HM Treasury has launched a Financial Inclusion Strategy setting out a national plan to widen access to banking, savings, credit and financial education for people most at risk of being left behind. The strategy includes a new pilot to help people at risk of homelessness open bank accounts and new work with credit agencies to address credit record damage affecting victims of domestic abuse. Under the homelessness initiative, Shelter will work with Lloyds, NatWest, Barclays, Nationwide and Santander to support people without a fixed address to open accounts, building on Shelter’s partnership with HSBC UK, which has already helped over 7,000 people. The strategy also aims to give employers clarity to roll out payroll savings schemes more widely, targeting the one in ten adults with no savings, and strengthens financial education for primary school children; it also references development of a free digital pass to help people prove their identity. The government also reaffirmed support for the rollout of 350 new banking hubs by the end of this Parliament, with ministers set to open the 200th hub later in 2025.
HM Treasury 2025-11-05
HM Treasury launches Financial Inclusion Strategy with Shelter-led bank account pilot for people without a fixed address and credit repair work for domestic abuse survivors
HM Treasury's Financial Inclusion Strategy aims to improve access to banking, savings, credit, and financial education for vulnerable groups. It includes a pilot with Shelter and major banks to help homeless individuals open bank accounts and initiatives to address credit record issues for domestic abuse victims. The government also supports 350 new banking hubs, with the 200th hub expected by 2025.