Saving Gateway Accounts Bill
4:37 pm
Adrian Coles: I agree with all of that, but is there a requirement for six-monthly statements? Let us suppose that you offer a passbook account, in which customers have in their hand, any time that they want to look at it, a statement recording all their payments. Why then force the savings provider to go to the trouble of posting an additional statement? Again, that would be too prescriptive. One or two things can be left to the discretion of the customer and the institution, without being in the regulations.