The Consumer Panel published "mystery shopper" research in April 2002, which highlighted the lack of access to the basic bank accounts that the main High Street Banks have committed to provide for low income consumers.

The Panel used this research to highlight their concerns that this first step on the ladder out of financial exclusion was not readily available.

Since then, the Banking Code Standards Board has undertaken some similar research of its own, the results of which confirmed that the Panel's concerns were not misplaced. Panel members have continued to have meetings with the British Bankers' Association, and HM Treasury, at which these concerns have been raised. It is understood that individual banks are taking steps to ensure that details of basic bank accounts are made available to customers for whom they would be suitable.

Changes in the way that benefits are to be paid start to take effect from April 2003, so the Panel believes it to be especially important for low-income consumers (who may not have a bank account at present) to be aware of the basic bank account option.