Trusts: Bank Services
The question
To ask the Chancellor of the Exchequer, what assessment she has made of the potential implications for her policies of changes in the number of firms offering bank accounts for trusts.
Answered by Tulip Siddiq
Ensuring all individuals have access to the appropriate financial services and products they need is a key priority for Government and is vital to supporting people’s financial resilience and wellbeing, and ensuring that individuals are able to fully participate in the economy.
In most circumstances, decisions on the provision of services such as trust accounts are commercial decisions for individual banks and building societies and the Government does not intervene.
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