Petition · past parliament · HM Treasury
Review 'Know Your Customer' guidance and requirements for financial institutions
Closed
157 signatures
What the petition asks
We want the Government to review legislation and guidance requiring financial institutions to know their customers, and how these are being implemented, with a view to tackling unintended consequences on customers.
These policies are having significant unintended consequences for both individual and business account holders, with banks freezing or closing accounts, sometimes without even informing the account holders. The first many account holders know there is problem is when the account are locked is when payments are rejected.
In many cases it appears that multiple linked accounts are frozen leaving the account holder with no means to live or pay bills.
Banks can be too slow to remedy problems, or not respond, causing stress and worry.
In many cases it appears that multiple linked accounts are frozen leaving the account holder with no means to live or pay bills.
Banks can be too slow to remedy problems, or not respond, causing stress and worry.
Timeline
| 6 Jun 2022 | Petition opened for signatures |
| 20 Dec 2022 | Closed to new signatures |
Key facts
Signatures
157
Status
Closed
Department
HM Treasury
Opened
6 Jun 2022
Closed
20 Dec 2022
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Source: the official petition page. Last checked 15 Jul 2026.