Bank Services: Business
2026-06-21 · Treasury · 11631 · Official question
Question
To ask the Chancellor of the Exchequer, for what reason the FCA allows banks to close down business bank accounts.
Answer
Generally speaking, it is economically beneficial for banks to provide business bank accounts, as this provides an important source of funding for their activities, such as funding their costs in relation to providing mortgages, consumer and business cred...