UK: Sustainable current account launches in the UK

Triodos, Europe’s leading sustainable banking group which prides itself on offering ‘ethical’ banking service, is now offering current accounts to UK consumers. The bank, which achieves its ethical goals by only investing in companies that offer some form of environmental or social benefit, and publishing the details of every loan it makes online to provide transparency to consumers, has been operating in the UK on a minor scale since 1995 but has only offered savings accounts. Tridos currently has 45,000 UK savings accounts customers.

As well as its ethical lending standards, the new current account card is made from polylactic acid (PLA), a sustainable plastic made from renewable resources. Also, by charging a monthly service fee of £3, and by only providing authorised overdrafts, the bank is aiming to adhere to is principals of transparency, sustainability, and fairness by reducing penalty charges and hidden fees.

The current account will begin a phased rollout from June this year, with Tridos hoping that it will double Tridos’s customer base over the next few years.

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