Step 1 – Research

The first thing you should do is find out about your current bank or building society’s policies on the green and ethical issues that are most important to you. You can use the banking section on YourEthicalMoney.org to find out how your provider performs against the site’s green and ethical criteria.

Alternatively you can check out information your provider has put on its website about its lending and investing activities and corporate social responsibility practices.Contact it directly with your specific questions if you cannot find sufficient information.

Banking Step 1 - Info Request

Banks and Building Societies - Contacts

Step 2 - Support

If you are happy with your current bank or building society’s green and ethical policies, consider writing to them to support the work they are doing and encouraging other account holders you know to do the same. This may help ensure that they maintain good policies in key areas.

Banking Step 2 - Support

Banks and Building Societies - Contacts

Step 3 - Oppose

If you find that your bank or building society’s green and ethical policies or products do not meet your expectations consider writing to them to express your concern and to highlight the areas that you feel they need to address.

While your bank/building society is unlikely to change its policies solely because of your letter, it may respond positively to consumer demand as demonstrated by a number of individuals. If you know other people using the same provider you might consider trying to get multiple signatures on your letter or even using free online petition software to make your voice heard. Either way, it’s important to express yourself if there’s something you’re not happy with.

Banking Step 3 - Oppose

Banks and Building Societies - Contacts

Step 4 - Switch

If you find that your bank or building society does not address your green or ethical concerns or have satisfactory plans in place to address them in the future, consider changing to a new provider who does. You can use YourEthicalMoney.org to find providers who perform well against the site’s green and ethical criteria and are a closer match to your ethical concerns.  

Switching current accounts should be straightforward and your bank is obliged to help transfer all your standing orders and other details over to your new account. Be sure to choose a new current account that suits your financial needs. Most banks offer a number of accounts, some of which may include a monthly fee.

If you are shifting your money to a new savings account, ensure that this new account also has the right interest rates and other features to suit your financial needs.

If you do decide to change bank accounts, consider writing to your original bank to let it know what you’re doing and why.

Banking Step 4 - Switch

Banks and Building Societies - Contacts

Step 5 - Stay informed

Along with this website, it’s worth checking in regularly with others like Banktrack, who also monitor the behaviour of financial institutions and report on any scandals or allegations against them.

Notes on using template emails/letters

Templates are given as examples of what you may want to say to your bank or building society. It is advisable to send copies to both your branch (if applicable) and your provider’s head office.  For a full list of bank and building societies’ head offices click here.

Please amend the templates as much as possible; banks and building societies are more likely to take note of and respond to a personalised letter rather than one clearly downloaded from a template.