Saving Gateway Accounts Bill
4:37 pm
Helen Banks: First, there is a fundamental objective of providing a savings facility to people on a low income, and the banks have certainly supported that as part of our overall financial inclusion agenda. You are talking about the specifics and how the product might work in terms of cost of provision. It is fair to say that it will come at a cost. A lot of the work that we have been doing has been about trying to make it as economically viable a product as possible. The benefits to the banking members who decided to provide it would be around reputation, rather than a commercial product earning a particular return for the banks.