Major banks give helping hand to people experiencing homelessness as new Financial Inclusion Strategy launches
Source: gov.uk (2025-11-05)

Thousands of people at risk of experiencing homelessness will now be able to open bank accounts with five major UK banks through a new pilot with Shelter, to help them to get paid work.

- Victims of domestic abuse will have unfair credit score damage addressed so they can rebuild their lives.
- The government is launching a new Financial Inclusion Strategy which will boost access to savings, credit and financial education for those most at risk of being left behind.
Thousands of people at risk of experiencing homelessness will be able to open bank accounts for the first time through a new pilot between Shelter and five major banks, which will allow Shelter to support people without a fixed address removing a major barrier which stops people being able to get paid work.

Lloyds, NatWest, Barclays, Nationwide and Santander are expanding on Shelter’s partnership with HSBC, which has already helped over 7,000 people get back on their feet.

For people without a fixed address, opening a bank account can feel impossible – yet without one, finding a job or a home is even harder. This new partnership removes those barriers and gives people a fair chance to rebuild their lives.

This support is also in addition to the new digital pass we’re developing which will give people a free and easy way to prove who they are.

The pilot is part of the new Financial Inclusion Strategy, launched today, which sets out a national plan to make financial services work for everyone, from people experiencing homelessness and survivors of abuse to families with no savings and children learning about money for the first time.

Economic Secretary to the Treasury Lucy Rigby said:

This plan is about opening doors – helping people experiencing homelessness into work, helping survivors of abuse rebuild their credit, and helping families save for a rainy day.

No one should be locked out of the chance to build a better future. Our strategy gives people the tools to get on and boosts the economy by supporting more people back into work through our Plan for Change.

Lauren Thompson, Head of Corporate Partnerships at Shelter, said:

Our Breaking the Cycle initiative is a vital step in providing essential financial support, housing advice, and resources to help people at risk of or experiencing homelessness.

Every day at Shelter, we see the crippling financial pressures often faced by those hit the hardest by the housing emergency. Many are skipping meals just to cover rent, cutting back on essentials, and making impossible choices simply to stay afloat. Access to banking can help people receive financial support, pay bills, and find and keep a safe home. Through our partnership with HSBC UK, pioneers in this space, we’ve supported over 7,000 people experiencing homelessness or housing difficulties to open a bank account. Breaking the Cycle can help support people to regain control, build financial resilience, and rebuild their lives.

Jose Carvalho, Head of Retail Banking and Wealth, HSBC UK said:

We are proud to have supported the creation of the Financial Inclusion Strategy, which will help people and families across the UK build financial resilience.

We are committed to helping people and families improve their financial health. Through our partnership with Shelter and our No Fixed Address Account service, we have already supported thousands of people to gain access to banking services, helping them break the cycle of homelessness, build financial resilience, and rebuild their lives. This is a big step forward as the industry comes together to help as many people in need as possible.

The Strategy includes new work with credit agencies to help victims of domestic abuse repair credit records damaged by economic control – giving survivors a fair chance to rebuild their financial independence.

It will also provide support for employers to offer payroll savings schemes, helping the one in ten adults with no savings build a financial cushion for unexpected bills. These schemes have proved popular with workers, with their employers putting a percentage of their salary into a savings account.

At the moment, companies are reluctant to offer such schemes as they fear that it will mean they are not complying with their statutory obligations to the employee. We are providing them with the certainty they need through the Strategy to roll out such schemes far and wide.

The Strategy also strengthens financial education in schools, giving every primary school child the tools to understand money and make confident financial decisions for the future.

This Financial Inclusion Strategy is part of a bigger effort to help people through the cost-of-living squeeze. Thirty hours of free childcare saving families £7,000 a year. Free breakfast clubs and more school meals for children on Universal Credit. Five million extra NHS appointments and real wages finally rising again.

In addition, to keep access to banking open for all, the government is backing the rollout of 350 new banking hubs by the end of this Parliament – restoring face-to-face services in towns that have lost their last branch, with ministers set to open the 200th hub later this year.

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Sam Smethers, Chief Executive Officer, Surviving Economic Abuse, said:

For far too long, domestic abusers have stolen victim-survivors’ futures – forcing them into debt and destroying their credit scores with life-shattering consequences. This strategy provides a golden opportunity to help survivors rebuild their lives by restoring their credit scores. It’s one we must seize so that credit reports reflect victim-survivors’ creditworthiness, not the economic abuse they have experienced.

No survivor should be left paying the price for an abuser’s crimes. We look forward to working with the government and the financial services sector to ensure survivors’ experiences remain at the forefront of implementing credit restoration measures, with clear accountability for delivery. Together, we will help survivors safely rebuild their lives free from economic abuse.

David Postings, Chief Executive of UK Finance said:

Being able to prove who you are should never be a barrier to rebuilding your life. That’s why we have worked with our members to make it easier for people without a fixed address to open a bank account. This partnership with Shelter and the major account providers is a vital step in ensuring that everyone - including those facing homelessness - can access the financial system, find work, and move forward with independence.

Jas Singh, CEO, Consumer Relationships at Lloyds Banking Group

Digital and financial exclusion aren’t peripheral issues - they can be significant barriers to feeling part of society and supporting people to feel included and empowered is crucial. This is a massive step forward to improve access to banking for those who need it most, improving digital capability and confidence and helping people to build a stronger financial future.