The Chairman of the Treasury Select Committee, Andrew Tyrie MP, has written to Lloyds TSB (Lloyds) and the Royal Bank of Scotland (RBS) regarding recent moves restricting access to cash machines for their basic bank customers.
In a series of letters made public (see above), the Chairman expressed concern that basic bank account customers may be prevented from using the majority of the UK’s free cash machine network.
Commenting on the decision the Chairman of the Treasury Select Committee, Andrew Tyrie MP, said:
“I understand the need to reduce costs, particularly at this difficult time.
“However, the decision to restrict access to cash machines has major implications for universal banking services and appears to target those vulnerable consumers who are most at risk of financial exclusion.
“Not every bank is restricting access. This issue would benefit from further consideration.”
The Treasury Select Committee also questioned the Chief Executives of Lloyds TSB, RBS, HSBC and Santander on this issue during an evidence session on Wednesday 23 November.
This session can be watched back at: Parliament TV
Image: Parliamentary copyright