For roughly ten years you have been able to take your telephone number with you when you change phone provider – imagine if you could take your bank account number with you if you decide to change your banker?
Allowing people to have a personal bank account number for life would let them switch banks easily and spark a revolution in retail banking. Increasing competition in banking is critical to getting our financial services sector back on an even keel. This particular idea only addresses competition in retail banking but it could be an important start to a revolution that will create a more competitive and balanced banking sector.
Read my full article on Conservative Home.