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PPI claims: Basic account holders 'should have unrestricted access to cash machines'

Brits with basic bank accounts should be able to incur credit card charges and make transactions with cash machines run by independent third parties or other lenders, the Treasury Committee has said.

In a report entitled Access to cash machines for basic bank account holders, the public body urged Lloyds TSB and RBS to remove any restrictions in this area.

HSBC, Barclays Bank and Santander have already committed to provide unrestricted access to basic customers and the committee revealed it intends to write to other lenders asking them to clarify their positions.

"Given the current model for banking and bank charges", these three banks' promise to continue providing unrestricted access to cash machines "is to be welcomed", chairman of the Treasury Select Committee Andrew Tyrie MP said.

Citizens Advice chief executive Gilliian Guy argued Lloyds TSB and RBS "are treating basic bank accounts customers like second class citizens".

Preventing people from using automated teller machines for free can force poor members of the public to incur additional bank charges by paying to access their money, having to travel to their bank or buying goods to receive cash-back, she pointed out.

John Fieldman
Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.ADNFCR-2776-ID-801439716-ADNFCR

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