The Citizens Advice Bureau (CAB) has called on banks and building societies to provide bank accounts to people with financial difficulties . The CAB's new report, 'Called to account: Why banks must provide basic bank accounts to undischarged bankrupts', brings to attention the importance of having a current account for people who have been made bankrupt if they are to carry on with their lives.
Just 2 of the 17 banks surveyed as part of the report allow undischarged bankrupts to open an account, making it even harder for these people to rectify their financial circumstances. Concerns about those who have been made bankrupt have become more prominent in recent months and years, with an increasing number of people finding themselves in these circumstances owing to the economic downturn.
According to CAB estimates, 75,000 people were made bankrupt in England and Wales in 2009, while bankruptcy enquiries have risen by ten per cent annually. With nearly 90 per cent of workers receiving their wages into their bank accounts, giving people who have been made bankrupt access to banking services is clearly paramount to aiding their recovery.
CAB Calls on Banks to Offer Services to Undischarged Bankrupts
Financial Services > e-banking > Banking news
CAB Calls on Banks to Offer Services to Undischarged Bankrupts
Wed, 14 Jul 2010
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