The UK government has unveiled a wide-ranging initiative under its new Financial Inclusion Strategy, aimed at removing financial barriers for people experiencing homelessness, survivors of domestic abuse, and families without a financial safety net.
Announced by the HM Treasury on 5 November 2025, the policy sets out how major high-street banks will partner with charities and the state to improve access to banking services, savings, credit and financial education for those traditionally excluded.
At the heart of the plan is a pilot, led by the charity Shelter, in collaboration with five leading banks: Lloyds Banking Group, NatWest Group, Barclays PLC, Nationwide Building Society and Santander UK. They will extend a successful model pioneered by HSBC UK which has already enabled over 7,000 people experiencing homelessness or housing instability to open a bank account.
Without a fixed address, many people find themselves barred from opening basic bank accounts, a hurdle which dramatically reduces their ability to access paid work or housing. The scheme is intended to remove that barrier.
Under the pilot, Shelter will support individuals lacking a permanent address to set up bank accounts with the participating banks. The government believes that enabling access to a bank account is a foundational step in helping vulnerable people secure employment, pay bills and rebuild their lives.
In a statement, Economic Secretary to the Treasury Lucy Rigby KC MP 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.”
She added: “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.”
Beyond banking access, the strategy tackles wider aspects of financial exclusion. For example, it proposes new work with credit-reference agencies to help survivors of domestic abuse repair credit records that were damaged through economic coercion or abuse.
A further element of the strategy encourages employers to offer payroll savings schemes, aimed at the one in ten UK adults without any savings. The government will provide certainty to companies concerned about legal obligations, to help them roll out such schemes broadly.
The plan also includes strengthening financial education so that every primary-school child receives tools to understand money and make confident decisions.
Meanwhile, recognising the challenge of disappearing bank branches in some areas, the strategy backs the rollout of 350 new banking hubs by the end of the current Parliament, restoring some face-to-face services in towns that have lost their last local branch.
Industry figures welcomed the major banks’ co-operation with Shelter and the Treasury. Mr Jose Carvalho, Head of Retail Banking and Wealth at HSBC UK, said the bank was proud to have helped create the Financial Inclusion Strategy and committed to “helping people and families across the UK build financial resilience”.
Likewise, Mr David Postings, Chief Executive of UK Finance, emphasised the importance of enabling people without a fixed address to open bank accounts, helping them find work and gain independence.
Financial exclusion has far-reaching consequences. Without access to mainstream banking services, individuals are more vulnerable to predatory lending, higher fees, joblessness, and housing instability.
By placing this issue at the centre of policy, the government acknowledges the link between financial capability and broader social outcomes, including employment, housing and well-being.
The Financial Inclusion Strategy arrives amid wider cost-of-living pressures across the UK. The press release flags the rollout of thirty hours of free childcare, free breakfast clubs, additional NHS appointments and real-wage rises as part of the broader context.
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