Launch of our de-banking report

We have today launched a major report on De-Banking in the UK, which reveals a growing problem: individuals, companies, and entire sectors are unfairly cut off from banking services and often find themselves unable to establish why.

Our findings reveal a complex issue driven by banks' risk aversion, influenced by costs, reputational concerns, and the challenges of combating financial crime.

It highlights the impact of de-banking on SMEs and various industries, underscoring the need for a collaborative effort among banks, government, and regulators to find sustainable solutions. We propose actionable recommendations, including the introduction of 'Basic Bank Accounts' for businesses and transparent banking practices to ensure fair access to financial services for all.

Access to banking is essential for economic participation. Our report urges a reassessment of banking practices to prevent unjust exclusion. Let's work towards more inclusive banking.

Read the full report below:

https://www.appgbanking.org.uk/wp-content/uploads/2024/02/De-Banking-Report-2024-240216.pdf