Throughout the COVID-19 pandemic, there has been unprecedented demand for banking services, this accompanied with working restrictions due to social distancing has meant banks have faced significant capacity pressures which has limited their ability to meet demand for bank accounts, among other things.
Banks continue to work hard to meet this demand. Ultimately, the decisions about what products are offered and to whom remain commercial decisions for banks and building societies. Similarly, decisions concerning the pricing of products, including account charges, are also commercial decisions for these institutions. While I recognise the important role of the third sector, I hope you can appreciate that it would be inappropriate for the Government to intervene in these decisions.