Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what information his Department holds on the number of money service businesses which have had their business bank accounts withdrawn by banks in 2014-15 and 2015-16; and if he will make a statement.

The Treasury does not hold any information on the number of money service businesses which have had their business bank accounts withdrawn by banks in 2014-15 and 2015-16.

Whether to withdraw a business bank account is ultimately a commercial decision for a bank. The government continues to work with both banks and money service businesses to promote understanding of their regulatory obligations and to encourage them to take a risk-based approach in their activities, to ensure that the measures they take are effective and proportionate to the risk they face.