The HSBC No Fixed Address programme, developed with Shelter, is a specialist service enabling individuals without a fixed address to open a basic bank account.
HSBC are working with UK charities to help individuals regain financial independence.
Not being able to afford a form of ID, for example, is sometimes a barrier to getting someone’s finances in order.
Removing the barriers to opening a bank account for those experiencing homelessness or financial turmoil, in turn helps break the cycle of homelessness.
This partnership creates a direct link between The Wallich’s support staff and dedicated HSBC staff, simplifying a process which can often be difficult for our service users to navigate alone.
The process has been designed to be as simple as possible and avoid the need for ID.
For an individual to make use of this service, they must be experiencing homelessness or housing difficulties and be receiving support from The Wallich or another of the partner charities.
The service is available immediately via one of the designated branches which covers most major cities and towns in Wales.
The Wallich can confirm their identity via a signed letter and an in-person appointment alongside the service user at one of the designated branches.
Having a bank account is a vital and basic need. Whilst cash used to be the standard tender across the UK, a bank card is now the standard form of payment.
The current digital age has resulted in the UK moving towards a cashless society, which was only exacerbated by the Coronavirus pandemic.
Many people experiencing homelessness without a bank account are unable to get through daily life with ease or use their bank account as a gateway to access a variety of services.
By working in partnership with HSBC and Shelter on this initiative, The Wallich will help to create opportunities for our service users to access benefits, secure work and break the cycle of homelessness.
“Opening a bank account is a fundamental step to empower individuals experiencing homelessness to take steps towards more sustainable accommodation and financial independence.
This forward-thinking partnership with HSBC will provide a solution which ensures that support is in place and easy to access, allowing our service users to flourish.”
