New advice to banks on people struggling to open accounts

The Financial Service Authority has issued new guidance to the Island's banks about people who have difficulty opening accounts.

It's updated its sector guidance notes with a section about financial inclusion, saying some people can have trouble producing identification such as passports, driving licences or proof of address.

It says the government can issue a Verification of Identity Letter which meets regulatory standards controlling fraud and money-laundering.

You can find the latest guidance to banks here.