Building resilient public payment infrastructure

We’re told that competition makes everything better — cheaper, fairer, more efficient. But when it comes to banks, that’s a myth. Six giant institutions dominate the UK market. They are all charging high fees, paying low interest, closing branches, and abandoning communities. But banking shouldn't be a marketplace engaged in a race to the bottom in service levels and to the top in charges; it’s a public utility. It’s time for a publicly owned Basic British Bank to make banking fair again.