We are a member of the UK Finance Financial Abuse Code. Together, we're committed to supporting our customers suffering from financial or economic abuse.
Financial and economic abuse are a form of domestic abuse, where a person’s financial freedom is restricted by someone close to them. This doesn’t only mean a romantic partner – it could also be a family member, parent, carer or friend.
What does financial abuse look like?
- Running up debt in the victim’s name, with or without their knowledge. For example, credit cards or credit agreements affecting their credit score
- Forcing the victim to sign over property or assets
- Refusing to make agreed or required payments, for example mortgage repayments
- Deliberately blocking the sale of shared assets, or the closure of joint accounts or mortgages
- Refusing to contribute to household income or costs
- Not allowing the victim to earn or spend any money unless they have permission
- Controlling access to finances, including monitoring their accounts or forcing them to share passwords for online access
What does economic abuse look like?
- Making it harder for the victim to buy food or pay for transport
- Stopping them from working, so they become financially dependent on their abuser
- Isolating the victim – for example, not allowing them to access a mobile phone or car, or stopping them from making or receiving phone calls
How you can help
If you think a client might be suffering from financial or domestic abuse, here are some ways you can help.
- Offer a longer appointment, so they have more time to consider their options
- Ask if they’d prefer to speak to you by themselves
- Give them more time to make any decisions
- Direct them to our customer website, where there's more information on the support available
If you're concerned about a client, please get in touch
For more information on financial abuse, please visit UK Finance
or UK Finance It's Your Money