For about 320,000 people who are homeless in the United Kingdom, Banking for the homeless can help to claim benefits, getting wages and paying rent. Banking for the homeless has always been a problem.
Banking for the homeless
All banks require a proof of Identification and address to open a bank account. This is difficult when someone, more so when you live on the street, wants to open a bank account.
Chief Executive at Crisis, Jon Sparkes said: “It can be almost impossible to get a bank account without a fixed address and without ID, which often can be hard to keep safe and costly to replace if lost or stolen.” Banking for the homeless has always been a problem.
HSBC have joined forces with charities, including Crisis and Shelter, to offer homeless people a basic bank account that removes the need for photo identification or proof of address.
In 2018 the service started in Liverpool. So far it is going well, thirty-one branches, in the UK, have made the service live. More than eighty accounts have been opened so far. One of the first accounts was for a homeless man in Liverpool who had been homeless for about twelve years. Opening a bank account for him meant, for the 1st time in over 10 years, he could to claim benefits and is now on the housing list.
Shelter CEO, Polly Neate said “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.
Shelter is pleased to work with HSBC UK on this game-changing product. Having a bank account not only allows people who are homeless to receive wages and claim benefits, but it also gives them their independence back”.
Because they can use the “no fixed address” product, those who are homeless must register with charities such as Crisis or Shelter. They are then accompanied by a caseworker to one of the thirty-one participating HSBC branches to open their account.
To get bank statements and a debit card, the application forms will have the charities address. They can access the account online or over via the phone. Statements and any other relevant documents can be collectable from the charity’s office or the selected HSBC branch.