1.8 m open first bank accounts

[Legal Beagles]

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[Amethyst]

Re: 1.8 m open first bank accounts

Some 1.8 million people excluded from banking have set up accounts for the first time in the last six years.

Data released today show a total of 3.6 million post office accessible accounts have been opened since 2003 – with over half opened by people with no previous experience of banking.

Figures from the British Bankers' Association (BBA) show 145,000 Post Office-accessible accounts were opened in the first quarter of 2009 and 26,000 existing accounts were upgraded.

David Dooks, BBA statistics director, said: "For those who had no previous banking relationship, there are now 4.3 million people able to access their basic bank accounts at post offices, while there are a further 3.5 million other ‘basic-function’ accounts, providing a suitable first step to accessing cash and payment services."

However, it is estimated some 1.85 million people still do not have access to a bank account.

BBA chief executive Angela Knight said: "Banks are committed to working with the government and other stakeholders to further improve financial inclusion through the provision of basic accounts.

“Basic accounts provide important banking services for people to manage their finances, particularly for those with no previous banking relationship. Today’s Treasury figures give further evidence that the growth of these accounts has helped to improve financial inclusion in recent years."

It is the government's aim to reduce the number of adults living in households without access to a bank account to 1.42 million.

Currently two per cent of adults are confirmed as not having a bank account.

[natweststaffmember]

Re: 1.8 m open first bank accounts

How do they determine the numbers of people opening a new bank account for the first time?
Maybe they have had a bank account closed and so this is a brand new account. or perhaps they haven't provided a bank account statement as proof of ID, or simply chosen not to disclose their previous account.

[Tools]

Re: 1.8 m open first bank accounts

Maybe they just ask them?

Don't forget many will be school leavers or immigrant workers etc.

[natweststaffmember]

Re: 1.8 m open first bank accounts

Maybe they just ask them?

Don't forget many will be school leavers or immigrant workers etc.

you got an email address for them(cos I am lazy on this warm day)?

[Tools]

Re: 1.8 m open first bank accounts

For who? The school leavers or the immigrant workers?

[natweststaffmember]

Re: 1.8 m open first bank accounts

For who? The school leavers or the immigrant workers?

well I assumed you meant the BBA but if you have the school leavers firstly and then the immigrants I am willing to email all 1.8 million of them if need be.

[Tools]

Re: 1.8 m open first bank accounts

Brian Mairs, Strategic Communications Director - (T): +44 (0) 207 216 8873 - Email: brian.mairs@bba.org.uk

[natweststaffmember]

Re: 1.8 m open first bank accounts

BBA Association - Banks pledge to build on financial inclusion progress
Press release

Progress towards the shared goal on access to bank accounts - HM Treasury

Treasury report they commented on.

This heat is really getting to me, where is the 1.8 million mentioned apart from 1.85 million who still do not have a basic bank account?

[calamity jane]

Re: 1.8 m open first bank accounts

This heat is really getting to me, where is the 1.8 million mentioned apart from 1.85 million who still do not have a basic bank account?

Data released today show a total of 3.6 million post office accessible accounts have been opened since 2003 – with over half opened by people with no previous experience of banking.

3.6 Million divided by 2 = 1.8 million


CJ

[Tools]

Re: 1.8 m open first bank accounts

There you go Nattie, that'll teach you not to read properly...........again!!!

[enaid]

Re: 1.8 m open first bank accounts

This heat is really getting to me, where is the 1.8 million mentioned apart from 1.85 million who still do not have a basic bank account?[/quote]

3.6 Million divided by 2 = 1.8 million


CJ

It was a Math solution to your question Nattie, no one would expect an exbankworker to solve that.

[natweststaffmember]

Re: 1.8 m open first bank accounts

There you go Nattie, that'll teach you not to read properly...........again!!!

I'd better stop emailing immigration centres and sixth form colleges then