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Basic Bank Accounts Continue To Be Popular |
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(21st July 2008)
A significant number of new basic bank accounts were opened during the first quarter of the year, a new report has revealed
The British Bankers' Association BBA claimed that during the first three months of the year, a net total of 341,300 bank accounts were set up.
According to the organisation, 3.2 million post-office accessible bank accounts have been opened since the launch of Universal Banking in 2003.
Half of these accounts were opened for customers who had no previous experience of banking.
"The 341,000 accounts opened in the first quarter, which includes 197,200 opened by Halifax for customers previously holding non-post-office accessible accounts, show that basic bank accounts continue to be an important and popular product, providing effective access to banking," David Dooks, statistics director at the BBA, said.
In related news, HM Treasury recently reported that 419 new free access cash machines are now available in low-income regions of the UK.
Some 143 additional locations are also set to benefit from such machines before the end of this year.
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