Survey tells banks to help the poor
(25 January 2006)

Banks are not doing enough to help the needy, a prominent charity claimed this week – and are sometimes resorting to seemingly underhand measures to reclaim unpaid debts.

Citizens Advice says that many vulnerable people are completely denied bank accounts, with 2.8 million Brits lacking such a service despite a range of basic, overdraft-free services ostensibly being on offer.

The report states that, despite the increased number of basic accounts on offer, banks are often neglecting to visibly publicise them and sometimes taking up to ten days to clear cheques paid into such accounts.

It says that banks should make basic accounts obviously available to the less well-off and should also provide them with the same standard of service that would be afforded to any other customer.

The report cites instances of banks withdrawing money from customers' accounts to pay off debts without first informing them, putting them in a potentially perilous situation at short notice.

If the situation in your account is looking a little parlous, and you need some cash to stay afloat til your next payday, a short term loan of up to £1,000 would do the trick. Deposited into your account the next day, taking out a payday loan is as hassle-free a financial service as there can be, and will help you to avoid getting any nasty surprises.



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