Millions of people and businesses protected against debanking
Protections will support small businesses to grow, putting more money into people’s pockets through the Plan for Change.Millions of people and small business owners will be better protected against their bank account being closed, as the government goes further and faster to drive growth and delivers security for working people through the Plan for Change.Banks and other payment service providers will be required to give customers at least 90 days’ notice before closing their account or terminating a payment service – an increase from the two months currently required – under new rules expected to come into force for relevant...
