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Jul 1, 2022 · Here's a closer look at some of the ethical issues affecting many UK banking institutions. Funding fossil fuels. Investing in fossil fuels and providing funding for companies active in areas that are negatively affecting the planet is a red flag for anyone looking at ethical banking.
There aren't many completely ethical banks in the UK, and only a couple have current accounts. Here we've listed the most ethical banks, according to Ethical Consumer's rankings, that offer current accounts.
- Switch Accounts
- Write to Your Bank
- Avoid The Worst Offenders
Switching bank accounts is remarkably quick and easy, with the transfer happening in less than seven working days. Current Account Switch provides a step by step guide. When you open a new account, the bank will usually ask you whether you want to switch across from an old one. If you do, by providing the details of your old account, the switching ...
If you’re switching banks or just want to ask your current bank to improve, it’s well worth writing to them. Like all companies, banks care what customers think, especially if it starts to cost them. If you are switching accounts and want to let your previous bank know why, we have published a template letteryou can use.
Our ethical banking guideshighlight the worst of the bunch, so that you can make sure you’re steering clear of them. We have guides for current accounts, savings, mortgages, business accounts, ISAs and more.
Sep 1, 2022 · What Are the Ethical Issues in Banking? Socially responsible banks generally choose to highlight specific causes and line up their investment policies and business practices around them. Here are...
Finding an ethical bank account. Rating the ethical and environmental record of 31 UK current accounts, with recommended buys and who to avoid. We also look at app-based banking, which banks own which brands, fossil fuel investments, tax avoidance, unequal pay, and how to switch accounts.
Ethical banking involves consciousness of how banking practices affect society and the environment. Financial institutions that emphasize ethical practices seek profit like any other financial institution. However, they strive to generate earnings without sacrificing principles or causing harm.
Ethics in Banking and Finance. Operating according to ethical values, and being able to demonstrate how governance, strategy and decision making has been informed by ethical principles, is an issue which is squarely in the spotlight.
