3 MILLION ADULTS DO NOT HAVE CURRENT ACCOUNTS
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Three million adults across Britain do not have a bank account, according to research.
This is double previous estimates by HM Treasury's Financial Inclusion Taskforce2, and four times what it was before the financial crisis of 2008.
Perhaps retail banks' current accounts are not really suitable for the majority of the population who want something more modern - and lower cost - but perhaps also it reflects a breakdown in trust between the consumers and the banks after the financial crisis and the well-publicised mis-selling scandals. Either way, it reinforces the point that the time is ripe for a new model that works for families on average wages."
With 440,000 'unbanked' adults, London accounted for 16 per cent of all adults in Britain without a bank account. The capital has more unbanked adults, according to research, than the city of Liverpool has residents.
The issue is nationwide. Doncaster's unbanked residents could fill their local football stadium twice over, while Durham, Coventry and Manchester all have figures in the tens of thousands.
Letts said: We suggest this is the beginning of a consumer drift to alternative ways of accessing their cash. They are saying enough of the old' and ‘in with the new.
MoneyMona has the answer an e-current account with all the tools you would get with a mainstream provider. In the new technological age why do you needs branches when “Online” is the new branch! You have mainstream Banks charging for anything and the days of the personal service has long gone. We have a UK based customer service team that if you need to speak to someone you can. Banks can be so intimidating can you supply this and that, then someone you have never even met decides whether you are suitable to use their services.
MoneyMona does not discriminate or make judgements we do not undertake “Credit Checks” so anyone over the age of 18 can have an account one they have supplied id and proof of address. Sounds simple it really is that simple. Check out www.moneymona for more information about our many benefits including rewards from many retailers.
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