News 12 December 2019
Author: Priya Faith

HSBC To Offer Bank Accounts For Homeless People In The UK

Author Priya Faith
12 December 2019

For the first time in the UK, not having a fixed address won’t stop people from opening a bank account. As HSBC are offering bank accounts to the homeless, it’s already changing people’s lives and offering hope.

HSBC has partnered with Shelter to help homeless people across the country to get back on their feet when they need it most. According to Shelter, as many as 320,000 people are facing homelessness across the country. The new ‘no fixed address’ account lets people bypass the traditional requirements of registering a home address and ID before opening an account.

In a huge step forward, the benefits of having a bank account go far beyond just being somewhere to put your money. Shelter’s chief executive, Polly Neate, said: “Having a bank account not only allows homeless people to receive wages and claim benefits but can instil a much-needed sense of independence.”

She added: “It’s hard enough if you’re homeless, living day-to-day on the streets in the freezing cold or trapped with your children in a grotty hostel, but not having a bank account can make life even tougher.”

The scheme was launched across 31 branches in major cities in the UK, including London, Liverpool, Manchester and Birmingham – and it’s already making a positive impact.