Updated 5:57pm 16 May 2012

Increase in bank accounts

THE number of people living in households that do not have access to a bank account has halved during five years, figures showed today.

Around 900,000 people were in families that did not have a bank account in 2007-08, down from 2m in 2002-03.

The drop means the Government and the Financial Inclusion Task Force have met their shared goal, announced in 2004, of halving the number of people in this position.

The figures show that during 2007-08 around 2% of the population did not have access to a bank account, compared with 4% in 2002/2003.

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