Banks accused of failing most vulnerable customers
The UK's Financial Conduct Authority has accused major banks of failing vulnerable customers by pushing them toward unsuitable online applications instead of basic bank accounts. Nine major financial institutions have agreed to simplify access to these essential accounts for those in financial hardship.
Why it matters
Ensuring access to basic banking is essential for financial inclusion, particularly for homeless individuals and those with poor credit histories.
Image source, Getty Images By Kevin Peachey Cost of living correspondent Published 7 July 2026, 00:29 BST Some of the UK's biggest banks have been failing their most vulnerable customers, according to the financial regulator.
The report relies on findings from a regulatory body and presents the banks' responses objectively.
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