A basic bank account is a transactional bank account which is fee-free for standard operations. The 9 largest personal current account providers are designated to provide basic bank accounts that comply with the Payment Accounts Regulations 2015 (PARs).
These firms are: Lloyds Banking Group (including Halifax and Bank of Scotland brands), Royal Bank of Scotland (including NatWest and Ulster Bank brands), Barclays, HSBC, Santander, Nationwide Building Society, TSB, Clydesdale and Yorkshire Banks and Co-operative Bank.
Banks have agreed to report data on basic bank accounts to the Treasury for annual publication. This is the fourth publication.