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Basic bank accounts 'top 7.4m'

The number of basic bank accounts offered in the UK topped 7.4 million in the first half of 2008, according to new figures.Data from the British Bankers' Association (BBA) revealed the news, which the organisation's chief executive Angela Knight said was welcome.This is because the BBA feels that banks' services should be available to the largest amount of people possible."By helping to provide basic accounts, the UK's banks are making an essential contribution to ensuring everyone who needs access to modern financial services can do so," she said.According to the figures, around 50,000 people are choosing these services every month."They are the cornerstone of the banks' commitment to ensuring affordable banking services is available to all," Ms Knight added.This week, customers of the Icelandic bank Icesave began receiving compensation.The Financial Services Compensation Scheme said that £0.25 billion had been paid out by last Friday (November 14th).

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