Industry delivers commitment on service information for customers

From today, consumers will be able to compare clearer and more consistent information about the additional services current account providers offer all customers, including those in potentially vulnerable circumstances, after a voluntary commitment made by the finance industry comes into action.

Details of the support available for customers experiencing money worries, dealing with a major life event, or with a disability or a physical or mental health condition will be displayed in the same template on each participating bank and building society's website. Information is also given on how the provider can help customers manage their day-to-day money better.

The finance industry and the Financial Conduct Authority (FCA) have worked together to deliver this voluntary commitment, which will help customers, or their family and friends, compare the services offered by different personal current account providers more easily.

Eric Leenders, Managing Director of Personal Finance at UK Finance, said:

Looking after every customer, especially those in potentially vulnerable circumstances, is a priority for the financial services sector. This voluntary commitment from the industry will help customers find the best account provider to suit their needs and direct them to clear information about where they can find the right support when they need it.

Details of the participating personal current account providers and links to their information pages are available on the Financial Conduct Authority website. Comparison websites may also use the information as part of their service.

Area of expertise:

Cards Payments, innovation & resilience Personal banking

Notes to editor

<ol><li>A template of the table banks and building societies are using to display the service information for customers with additional needs is available below.</li>
<li>The participating current account providers publishing information on 15 November 2018 are:</li>
</ol><table align="left" border="1" cellpadding="4" cellspacing="1" style="width:100%;"><tbody><tr><td>B</td>
<td>Bank of Ireland</td>
<td>Bank of Scotland</td>
</tr><tr><td>Barclays</td>
<td>Cahoot</td>
<td>Clydesdale</td>
</tr><tr><td>The Co-operative Bank</td>
<td>Coventry Building Society</td>
<td>Danske Bank</td>
</tr><tr><td>first direct</td>
<td>Halifax</td>
<td>HSBC UK</td>
</tr><tr><td>Lloyds Bank</td>
<td>M&S Bank</td>
<td>Metro Bank</td>
</tr><tr><td>Nationalwide Building Society</td>
<td>NatWest</td>
<td>Royal Bank of Scotland</td>
</tr><tr><td>Santander</td>
<td>Smile</td>
<td>Starling Bank</td>
</tr><tr><td>Tesco Bank</td>
<td>TSB</td>
<td>Ulster Bank</td>
</tr><tr><td>Yorkshire Bank</td>
<td> </td>
<td> </td>
</tr></tbody></table><table border="1" cellpadding="1" cellspacing="0" width="100%"><tbody></tbody></table><ol start="3"><li>The voluntary commitment <a href="/new-service-information-help-current-account-customers-compare-providers">was announced in August</a>, when current account providers began to display information on the quality of service they offer on their websites and in branches.</li>
<li>UK Finance is a trade association formed on 1 July 2017 to represent the finance and banking industry operating in the UK. It represents more than 250 firms in the UK providing credit, banking, markets and payment-related services. The new organisation brings together most of the activities previously carried out by the Asset Based Finance Association, the British Bankers? Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association.</li>
</ol>