Bank Accounts and Your Rights

Banks and Building Societies are regulated by the Financial Services Authority which ensures that they are financially sound.

Banking Code:

A voluntary Banking Code which sets the standards of good banking practice when dealing with personal customers is followed by most banks and building societies in the UK. Visit the website to download the code along with guidance notes or write to the following trade bodies to ask for a copy to be posted to you. Copies of the code can also be obtained from most banks by writing to their customers services address.

British Bankers Association
Pinners Hall
105-108 Old Broad Street
London EC2N 1EX
Tel: 020 7216 8840
The Building Societies Association
3 Savile Row
London W1S 3PB
Tel: 020 7437 0655
Association for Payment Clearing Services
Mercury House
Triton Court
14 Finsbury Square
London EC2A 1LQ
Tel: 020 7711 6200


Complaints against banks and building societies should be made directly to the firm responsible. Banks and building societies are expected to have internal procedures for complaints handling and to belong to the Financial Ombudsman Service, an impartial service set up to help settle disputes. Complaints can be made directly to the ombudman, see their website for more information or contact them at:

The Financial Ombudsman Service
South Quay Plaza
183 Marsh Wall
London E14 9SR
Tel: 0845 080 1800


In 2001 the Financial Services Compensation Scheme was put into effect to protect customers of firms that go out of business or into liquidation. The FSCS replaces the Deposit Protection Scheme, Building Societies Investor Protection Scheme and other schemes that had previously been in place.

Most customers are at least partially protected through the Financial Services Compensation Scheme, see the website for more information or contact them at:

Financial Services Compensation Scheme
7th floor, Lloyds Chambers
Portsoken Street
London E1 8BN
Fax: 020 7892 7301

See the links above for more detailed information on the variety of bank accounts available and see our bank directory to find out what types of accounts your local bank offers.

Always be sure you fully understand what is and is not included, the costs, restrictions and exactly who is offering it before signing up for a bank account or any financial product. For more information see the Financial Services Authority Consumer Information website

None of the information contained in this website constitutes, nor should be construed as Financial Advice.

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