Co-op bank withdraws from bankrupts market

Undischarged bankrupts will no longer have a choice over where they can access a bank account as Co-op withdraws from the market.

Only the Co-op and Barclays offered accounts to those who are undischarged bankrupts - generally the 12 months after a bankruptcy order is made.

The former has said it will no longer accept new customers of this type, blaming an "un-level playing field".

It said existing customers in this situation would not be affected.

People who have been made bankrupt are generally only allowed to open a basic bank account.

These accounts do not offer overdrafts. Some have a debit card, but only with limited facilities. They do not incur a monthly fee.

There are about 20 basic bank accounts available, but now only Barclays allows undischarged bankrupts to sign up.

The Co-op argued that all banks should work equally to offer help to those who have been financially excluded.