Everyone deserves access to financial services. But even today too many people are excluded by the invisible barriers of the banking system.
We think all banks can do better. This is our campaign to make a future with #NoBarriersToBanking.
Without a bank account, it’s harder to get a job or receive benefits. Finding somewhere to live and paying to live there becomes tricky. And you’ll end up paying more for basic things like bills.
You’ll have no way to save money safely and see your savings grow. And if you need to access credit, it’ll either cost you significantly more or mean you can’t altogether.
And even more people aren’t supported by their current bank. If you’ve just moved to the country, you’re living with mental health problems, or are vulnerable in other ways – banks aren’t often able to meet your needs.
of the newly banked are net losers, incurring more penalty charges than they have gained in savings.
Opening a bank account if you don’t have a fixed address can be tricky, because banks usually require proof of address to open an account, or deliver your debit card. So if you’re homeless or a recent immigrant, you’ll struggle to open a bank account.
At Monzo, we let you use another address, like a friend’s house or a shelter. But unfortunately that isn’t common. If you’ve just moved to the UK, navigating the processes and paperwork can be overwhelming, especially if English isn't your first language.
Nearly 6,000 local branches have shut since 2010, and low income areas have disproportionately borne the brunt of these closures.
And even though Monzo is an online-only bank, we have a duty to make sure nobody gets left behind and we don't lose that human touch.
Nobody should be ripped off by a financial service that's difficult to understand. From the names of the products, to their terms and conditions - people should always know what they’re getting.
No hidden charges or nasty surprises. Especially when it comes to difficult subjects like debt collection and complaints.
Show your support and share our campaign page. We want to raise awareness of barriers to banking and the problems which come with them, far and wide.
Share your first hand experiences of these issues with other people on our community forum and help us make sure this campaign has a truly positive impact to those who are unbanked.
Pledge your support as a business or charity. If you’re in a position to help improve financial inclusion in the UK, get in touch!
Today we launched the #BankingForAll campaign
Are you struggling to access banking services in a way which is comfortable for you? We've created a search tool to help connect you with charities and organisations in your local area who can help. Check it out here
Do you work in the social inclusion space? Are you passionate about championing financial education and independence in your own organisation? Come along to our first Banking For All roadshow event to challenge problems and share solutions with others committed to building a financially inclusive world. Talks from Beam and Proxy Address
We've teamed up with The Big Issue to make the magazine resellable! Pick up a copy, and 'Pay It Forward' to keep supporting the original vendor. More info here.
We published a guide to writing customer-friendly terms and conditions!
It's National Numeracy Day - a day where we recognise the important role that numbers play in our lives. Take the challenge, build confidence and sharpen your skills.
You can now listen to our Terms and Conditions as audio on our website or in the app.
Last night we hosted our second Banking for All event in Manchester, with great talks from Tech For Good Live, Dosh and Citizens Advice Manchester. Stay tuned for updates on the next stop on our roadshow tour!
Help us spread the word by sharing this campaign with your friends.
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