According to the new UK Government report, Over 900,000 new fee-free basic bank accounts were opened between July 2016 – June 2017, taking the total number of fee-free accounts open to nearly 5 million.
At 30 June 2017, a total of 7,958,930 basic bank accounts were open at designated institutions.
As of 2016, the 9 largest personal current account (PCA) providers in the UK have offered basic bank accounts that are fee-free for standard operations. These 9 bank institutions are:
- Barclays
- Clydesdale and Yorkshire Bank
- Co-operative Bank
- HSBC
- Lloyds Banking Group (including Halifax and Bank of Scotland brands)
- Nationwide
- Royal Bank of Scotland (including NatWest and Ulster Bank brands)
- Santander
- TSB
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