Triodos, a European bank which focuses on ‘sustainable lending’ through organisations such as charities and community schemes, has opened registrations for its first ever UK personal current account.

The bank says it is launching the account in response to growing consumer demand for banking products that demonstrate a positive impact on society. Managing director at the bank, Bevis Watts, explained: “Our new personal current account brings an inspiring new option to the UK current account market, which we believe is dysfunctional and is obviously dominated by a small number of large banks.

“We want people to really think about what their bank is doing with their money. Money does not have to be invested in the arms trade, fossil fuels and tobacco – it can be used to do good things that help build the society we want to live in.”

The new personal current account also claims to challenge the practices of many High Street banks which make money from customers stumbling into unauthorised overdrafts. Customers will be charged £3 per month for the current account service and, whilst arranged overdrafts are available, the bank will not allow unarranged overdrafts, thus removing the risk of high penalty fees.

In support of its commitment to the environment, customers will receive an eco-friendly chip and PIN debit card made from PLA, a natural plastic of renewable resources (often corn or similar plants) that is an environmentally responsible alternative to traditional plastic such as PVC.

The account will have internet and mobile banking capabilities, while customers will be able to make cash withdrawals of up to £300 from any ATM globally which accepts Mastercard and LINK.

Huw Davies, head of retail banking at Triodos Bank, added: “Our current account provides the essential banking services expected by customers, but much more as well. We believe this new product will inspire the many people who make conscious sustainable choices in their daily lives to move their banking to a bank which shares their values, and which is working to have a real, positive, impact on society.”

Share Story: