FCA asks banks for account closure information

FCA has followed up its announcement of its upcoming investigation of account closures with a request to the largest banks, building societies and payment firms to provide it, by 25 August, with information on:

  • the number of customers terminated;
  • the number of customers suspended;
  • the number of customers denied services;
  • the reasons for all the above; and
  • the number of complaints received about these

The request specifically seeks also to establish when accounts have been closed because of expression of opinions, whether political or otherwise, and covers not only personal customers but also business customers, including political parties, charities and pawn brokers.

Emma Radmore