Birmingham Daily
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New Bank Account Rule for All UK Households Takes Effect April 28

Wednesday, March 25, 2026 banking regulation uk accounts closures customers legislation finance protection smallbusiness

Starting April 28, 2026, new regulations will transform how UK banks handle account closures, offering greater protection to millions of customers. This change comes in response to a dramatic rise in the number of accounts being shut down without warning. Data obtained under the Freedom of Information Act reveals that 453,230 bank accounts were closed during the last financial year—an astonishing tenfold increase from the 45,091 closures recorded in 2016/17.