Template letter for after you have switched bank accounts

Have you switched bank accounts or insurers for ethical reasons? 

Companies really care what consumers think, especially when it’s affecting their bottom line. If you’re making a switch based on human rights, climate or other ethical concerns, consider letting your old company know. 

Here is a template letter, so you can tell them why you’ve made the move. 

Account Number: [account number] [insert address]

Sort Code: [sort code] [insert email]

To [bank name] complaints department,

I have closed my account with [bank name] and have moved my money to a more responsible bank. I also will not be opening a bank account with you until you improve your ethics.

As detailed in Ethical Consumer magazine, you [delete as applicable]:

• Have provided £[amount] to fossil fuel companies since [year], including £[amount] to extreme fossil fuel companies since [year]. [see Banking on climate change article for figures]
• Have provided £[amount] in financing for weapons companies supplying Israel since [year] [see Which banks support Israel article for information]
• Have provided £[amount] in financing for arms firms that sell to countries at high-risk of using weapons to target civilians [see Banks and weapons article for figures]
• Have provided £[amount] in financing for the nuclear weapons industry since [year]  [see Banks and weapons article for figures]

I urge you to develop comprehensive and transparent lending and investment policies, committing to more ethical practices.

In particular, considering the irrefutable evidence that our reliance on fossil fuels is neither environmentally nor economically sustainable, I believe that it is extremely irresponsible to continue funding the fossil fuel industry through lending and investments.

Through these investments and services [bank name] facilitates and profits from climate catastrophe. Considering the evidence that we can no longer rely on fossil fuels, such financing and investments are irresponsible use of customer money.

I hope that you will take responsibility for your services and investments in the future.

Yours sincerely,

[name]