Basic Bank Account
Firstly, you do not have to have one...BUT YOU COULD, one day, want or require one! And as it stands, your circumstances can and could restrict that, before you find one.
Firstly, you do not have to have one...BUT YOU COULD, one day, want or require one! And as it stands, your circumstances can and could restrict that, before you find one.
Therefore, to remove all the negatives.....to stop discrimination, and end all social stigmas...irrespective of what changes are made in the current Banking reforms, we must make the BASIC BANK ACCOUNT a legal right. This is why, and what it promotes.
You Choose the Account
Wherever you live and is the most convenient for you, where you can access your monies and arrange to pay into the account. What could be simpler than that. Of course, a nominated person could do this for you were you disabled, such as a carer.
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| 'It's Your Money' |
Moreover, you must be able to use a Cash Card at ANY ATM that is near to you or convenient for your use. No more will any one bank be able to close off access at will, at your expense!
As it is clear banks can not adhere to a voluntary code, it must therefore be made mandatory. A case of some ruining it for others. In a recent case over one million customers were estimated to have been affected. Never again.
Can there be COMPETITION?
Absolutely. There is nothing preventing banks offering over and above the very minimal as a Basic Bank Account. Some do, and this would become the nominated basic account. So if Banks really do want your custom, they can prove it at the bottom line. Can't they. There are some who offer online, and direct debit facilities. Even an Electron Card! NO MORE EXCUSES.
Moving up to 'fee paying'
That becomes reliant on your circumstances, and not by dictate of the banks. Perhaps you'll require a/an overdraft/loan/mortgage (you see, it's your circumstances) so it is then reasonable to expect to pay fees. Competition between the banks have many offers here to get your business, don't they?
Other Institutions
Happily, building societies have similar accounts as do Credit Unions with a better ethos behind them promoting regular savings. Where they exist (CU's) and with a projected increase in outlets and investment, must seriously be considered as alternatives to banks.
Voluntary code means nothing...
Already there is one 'e-petition' running for 'one' Bank to restore the 'link' [ATM] facility...because it decided to 'opt' out. Which is great on it's own, but, and certainly with no disrespect to its cause and merits, it is not the answer in which to stop all banks.
We need to cover ALL Banks
To stop them from causing havoc as and when they choose by changing the rules to suit themselves, only one single effort can be the answer.
All BANKS must offer a Basic Bank Account with Cash Card...
Yes, the same one they (the Banks) agreed and FAILED to do voluntarily. There to help all members of society, who for one reason or another are unable to have a 'normal' or 'fee based' current account.
If you want and would like to see, AND HAVE, once and for all, the right for every person of working age and beyond, a simple Basic Bank Account with unhindered access (by a Cash Card) to their money from banks with an Automated Telling Machine under the 'Link' system (ATMs') PLEASE SIGN this e-petition,
"That, provision in Law by amendments or enactment be made for persons within England & Wales of working age to hold a personal Basic Bank Account enabling all to receive and withdraw monies whether from Branch or automated facilities - free of stricture in circumstances - from all Banks Building Societies and other retail financial institutions"http://epetitions.direct.gov.uk/petitions/15120
Will they be Portable?
There are plans to make ALL bank accounts portable, and speed up transaction times. This really is now dependent on how competitive each bank wants to be. NO MORE EXCUSES.
Will they be FREE?
"Free of stricture" means of behaviour and action. Free therefore of costs and of your circumstances. NO MORE EXCUSES.
And will Banks do this?
Hence the e-petition, to remove all and any pretence of false promises. Of all the reforms this simple element has gone unnoticed in favour of fee based accounts within a ring-fenced culture, which will happen.
The argument of competitive forces dictating all and everything has run its course. You want 'fair banking' then you must start at the bottom first. NO MORE EXCUSES.
Thus it must be by Parliament. And apolitical as best it can.
Finally...
The new petition, is just part of a concerted effort which will include letters and emails to ALL Members of Parliament. An active Twitter campaign, and of course Press and TV.
Templates will become available for you to contact your local MP.
GOOD LUCK EVERYBODY. SIGN TODAY.
Note: When you've signed PLEASE RETWEET, EMAIL, post on your Media Page. Thank You.
Update...24/9/11
'No More Excuses', was recently invited to provide a 'guest blog' for our friends at Zero Credit UK and NME Founder - David Jones, was more than happy to oblige. You can read it here. And follow them on Twitter @Zerocredit_UK
