Personal Budgets

[Stu2112 (Stuart)]

The Social Services organisations, as part of the local authorities in England, have a responsibility to provide Personal Budgets to people who qualify for social care to allow them to spend their “allowance” as they require…

At present councils such as Birmingham City Council are using “little banks” underpinned by people like Lloyds To provide “bank account-like” facilities, with limited online functionality…

Monzo could provide much better functionality for this…

[jzw95]

Good idea, and something that seems like it could be part of Monzo’s (eventual) wider goal to increase financial inclusion.

Banking for Users Without Banking Services such as Asylum Seekers

Hey Colin, most definitely. We have a duty to educate users and promote financial inclusion in everything we do. Everyone needs some form of financial intermediation in order to function as part of a modern society and I hope we can be the bank to provide this for groups of individuals who would otherwise find this difficult. We'll be setting out a clearer manifesto on how we plan reach excluded individuals and groups at some point and how this aligns with our ethics as a bank more generally…