Good work from TSB here
Bank will make support payments of £50 to £500, depending on customers’ needs, which will be paid into an account that only the claimant can access.
In partnership with Women’s Aid, TSB is also launching a pilot scheme to allow domestic abuse victims to safely open and access a bank account, without standard documentation.
I actually love this.
Nice to see banks offering extra support, not just “support” to send you to other businesses to help (StepChange etc).
I think we need a topic on how Monzo hurt you. It might be therapeutic.
I actually wasn’t referring to any specific and monzo didn’t burn me, I left.
There’s always a support from banks but actual financial support in times of need as above, isn’t common.
Temp credits etc aren’t the same as actual financial support (which most customers believe banks can do, when they actually generally don’t).
Some things it’s good to defer to the experts.
I do wish these papers would link to the original paper. Having had a skim it’s Chase bad, Triodos good (no surprise there) but I don’t know if they looked at Monzo and Starling and they were middle of the pack or just didn’t bother because not high street…
If only some kind of search engine existed where you could find such information right at your fingertips
Their main problem with Monzo seems to be its environmental and climate change reporting.
I don’t fully feel it’s fair given Monzo clearly publishes its carbon emissions on its website as well as giving a detailed breakdown in its annual report. It’s unclear exactly what they are looking for on that front to me.
Not UK, but shows how risk averse banks can sometimes be.
BBC News - TSB fined £49m over IT banking chaos
I, sort of, feel sorry for TSB in this. I was effected by this, in that it locked them out of my account for five days.
But, as bad as it was, they weren’t the only bank I’ll bet trying to modernise their systems, and it’s really not as easy as turning it off and back on again. I wonder how many “close shaves” other banks had around this time period.
This TSB story is non–news these days. Only a week ago Santander was fined more than double that. Even Monzo loses more money than this every year
Really great step, though perhaps not a huge surprise.
This might help with acceptance in the Netherlands over the coming months…
This was announced months ago.