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NewsExpert says bank accounts should be a right 'for all consumers'
Expert says bank accounts should be a right 'for all consumers'
Posted by Emily Jones
All consumers should have the right to insurance, banks and credit arrangements, judging by an expert's comments.
Ian Boden-Smyth, spokesperson for The UK Insolvency Helpline, outlined why access to finance is an important issue and should serve all customers, even those who have experienced bankruptcy.
"No-one should be denied a bank account," he said. "This goes for everyone from a ten-year-old child to the worst bankrupt there is."
Mr Boden-Smyth added that although preventing someone from having an overdraft or chequebook is understandable, it is not fair that consumers should be forbidden from using a basic account.
The expert asserted that part of the reason banks follow the current policy is because they want accountholders who will stay with them for a long time.
Previously, the Citizens' Advice Bureau revealed there was a 249 per cent increase in the rate of people applying for bankruptcy between 2000 and 2009.
In fact, last year there were 75,000 individuals who declared they had such troubles.
15/07/2010 16:29
News category: Consumer