Only 10% of EU consumers changed bank accounts
in 2011, the Commission notes, stressing that the lack of information and help from banks often discourages consumers from starting the process.
A spokeswoman said a "watching brief" is in place on the situation but payments into Cypriot bank accounts
will not resume when banks on the island reopen - currently planned for Thursday.
Money was transferred to three separate bank accounts
apparently under the name of the Chinese, the investigators said.
The Co-op has always been seen as the goody-two-shoes ethical bank, praised for its high levels of customer service and fair products, and because it was one of just two banks offering a bank account
lifeline to those who hit hard times and bankruptcy.
There are no social groups with restricted access to bank accounts
or payment services.
taxpayers are required to file an annual reporting form, called a Report of Foreign Bank and Financial Accounts (or FBAR), stating whether they have a financial interest in any bank accounts
maintained in foreign countries.
Gillian Guy, chief executive of Citizens Advice, said: "Great progress has been made in improving access to bank accounts
for many groups who were previously financially excluded, yet there are still groups, such as undischarged bankrupts, who struggle to open even a basic bank account
Chancellor Alistair Darling said the move would lead to up to 1m more people having access to bank accounts
during the coming five years.
A: Yes, the FBAR is the correct form to file when an individual has signature authority over, or a financial interest in, an offshore bank account
The gang--made up of six hackers, four bank officials who are needed to authorize illicit bank withdrawals, and five federal policemen who act as lookouts for electronic law enforcement on their trail--illicitly wires funds from Brazilian bank accounts
to phantom accounts, where money is withdrawn to buy anything from cars to computer equipment.
We may well then join Rab Hatfield in his surprise at finding the records for the sculptor's bank account
stored in the Archivio di Stato in Florence.