VATFIN2915 - Money (including transfer of money) and related services: operation of a current, deposit or savings account: legal provisions
Article 135.1 (d) of the Principal VAT Directive exempts:
transactions, including negotiation, concerning deposit and current accounts
This has been enacted into UK law as the VAT Act 1994, Schedule 9, Group 5, item 8, which exempts:
the operation of any current, deposit or savings account.