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UK charity urges banks to adopt standardized financial safety tools for people with mental health issues to prevent abuse and support trusted help.
Martin Lewis, founder of the Money and Mental Health Policy Institute, is urging UK banks to adopt standardized financial safety tools to help people with mental health challenges manage money with trusted support.
Research shows 22% of those with mental health issues have shared sensitive banking details like PINs, and 42% have wanted help from a trusted person, often due to symptoms like memory loss or low motivation.
Current support, such as carers’ cards or third-party alerts, is inconsistent and often too rigid for fluctuating conditions.
The charity is calling for universal, legally protected tools—like secure carers’ cards, account alerts, and controlled payments—to prevent financial abuse, account loss, and harm to caregivers, ensuring safe, accessible support without breaking rules.
La caridad del Reino Unido insta a los bancos a adoptar herramientas estandarizadas de seguridad financiera para personas con problemas de salud mental para prevenir el abuso y apoyar la ayuda confiable.