Financial abuse is a form of domestic violence that involves the perpetrator preventing a victim from having control over their own money. It can affect people in many types of relationships, for example spouses, partners, family, friends and caregivers.
In October 2018, a number of banks and building societies signed a voluntary code of conduct to help victims of financial abuse, including HSBC. Other vendors who have signed up to the code include Barclays, Bank of Scotland, Clydesdale Bank, Co-operative Bank, Halifax, Lloyds Bank, Nationwide Building Society, NatWest, RBS, Santander, TSB, Virgin Money and Yorkshire Bank.
By adhering to the code, these financial providers have committed to raising awareness of financial abuse, training staff, responding appropriately to victims, helping victims regain control of their finances, and referring victims to d ” other types of help available for them.
For people in vulnerable situations and victims of financial abuse, you can contact the National Helpline against Domestic Violence, managed in partnership by Women’s Aid and Refuge, on 0808 2000 247; or the Men’s Advice Line on 0808 801 0327. If you are in immediate danger, call the police on 999.