Treasury has announced the launch of fee-free basic bank accounts at nine major banks from 1 January 2016. The accounts are available to anyone who does not already have a bank account, is ineligible for a standard current account or who cannot use their existing account due to financial difficulty. Treasury notes that these accounts will remove the risk that customers will be forced into overdraft because of fees and charges. It is implementing the new account form ahead of the Payment Accounts Directive coming into force. (Source: Treasury Launches Fee-free Bank Accounts)