Consultation outcome

Review of SME banking undertakings

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Original consultation

This consultation ran from to


We are seeking views on whether to review the undertakings for banking services to small and medium-sized enterprises (SMEs).


Consultation description

As part of its SME banking market study, the CMA has conducted a preliminary assessment of the undertakings given by certain banks following the Competition Commission’s 2002 investigation into SME banking.

These behavioural undertakings were intended to improve transparency and make it easier for business customers to switch banks. While the CMA considers that these undertakings remain valuable, it is minded to review whether they need to be varied, given recent changes in the switching process. We are inviting views on this.

Details of CMA’s preliminary assessment can be found in Chapter 11 of the SME banking market study (p178).