Statement on Competition and Markets Authority’s provisional findings on banking

in Money Affairs, Consumer Skills

Commenting on the Competition and Markets Authority’s provisional findings on banking, John French, Consumer Council Chief Executive said: “The CMA report has highlighted the need to simplify and clarify the account switching process for customers across the UK.  Banks have a responsibility to consumers to provide clear and easily comparable information, so consumers can make informed choices about their own account and provider.


“The CMA’s findings also recognised that the NI banking market is different to that in GB and we look forward to exploring this finding further with them.  The Consumer Council is aware that 10 % of consumers here do not have a personal bank account, compared to 4 % in GB.  Consumers who do not have a bank account miss out on the financial savings that can be made by paying bills by direct debit or buying online.  We will continue to work with the CMA and the NI Banks to ensure the findings of today’s report are fully implemented, and that remedies appropriate to consumers in Northern Ireland are undertaken.”








Media Contacts

Opening Hours9am to 5pm, Monday to Friday
(except for bank and public holidays)

For up-to-the-minute updates, follow us:


Register your e-mail address to receive our newsletter

Advice Newsletter