Consultation outcome

Personal current accounts and banking services to SMEs

This consultation has concluded

Download the full outcome

Detail of outcome

The CMA has decided to make a market investigation reference in relation to personal current accounts and small and medium-sized enterprise (SME) banking. Further information can be found on the retail banking market investigation case page.

Feedback received

Responses to the consultation from consumers, businesses and other bodies

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Barclays Bank PLC

British Chambers of Commerce

Campaign for Community Banking Services

Citizens Advice Scotland

Clydesdale Bank

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Consumer Council for Northern Ireland

Credit Union Consultancy

EEF

Federation of Small Businesses

Financial Conduct Authority

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Financial Services Consumer Panel response

Financial Services Consumer Panel discussion paper

Forum of Private Business

HSBC

Lloyds Banking Group covering letter

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Lloyds Banking Group annexes

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LNT Group

Metro Bank

Moneyfacts Group

National Pawnbrokers Association

Orwell Group

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Paragon Bank

Payment Systems Regulator

Positive Money

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Royal Bank of Scotland PLC

Santander UK plc

Tesco Bank

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TSB

Virgin Money

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Which?

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Yorkshire Building Society

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Detail of feedback received

The CMA received over 120 responses to this consultation. Copies of the consultation responses (excluding confidential information) are available from this page.

Original consultation

This consultation ran from to

Summary

We are seeking views on the CMA’s provisional decision to make a market investigation reference in relation to PCAs and SME banking.

Documents

Consultation description

This consultation invited views on the Competition and Markets Authority’s (CMA) provisional decision to make a market investigation reference (MIR) in relation to the provision of personal current accounts (PCAs) and the provision of banking services to small and medium-sized enterprises (SMEs) in the UK.

The CMA’s 2 market studies on PCAs and SME banking are available on the retail banking sector market investigation case page.