The Competition and Markets Authority (CMA) has published a notice of intention in respect of its retail banking market investigation.  It plans to undertake a second iteration of the personal current account (PCA) pricing analysis using transactions data.

In its provisional findings it undertook an analysis of PCA pricing and calculated:

  • The net cost per month of each account using prices at a particular date.
  • The net cost per month for that account if the account holder switched to another PCA.

The output was used to calculate an estimate of the potential savings from switching and estimate average prices across banks.

After consulting on its provisional findings, the CMA intends to undertake a second iteration of the analysis in order to refine and update the analysis.  It will use anonymous transactions data that it collected from its information request in December 2015 (Account Benefits) and January 2016 (Northern Ireland PCA).