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Bank loans: UK banks should 'offer more financial services' to ex-prisoners

UK banks should do more to help ex-prisoners access financial services, according to a new report.

Reformed offenders groups the Prison Reform Trust and Unlock have called for firms to assist former-convicts in their application for credit, opening a new account and purchasing insurance policies.

The group claims that, by excluding former-prisoners from such services, banks are condemning them to a second sentence as they are unlikely to secure a job without a bank account.

Research carried out by the two groups has revealed that a third of prisoners did not have a bank account, while more than half of respondents had been rejected for a loan.

Furthermore, four out of five former-criminals also encountered issues when applying for insurance.

Chris Bath, director of projects at Unlock and co-author of the report, said: "If we want people to lead productive lives, working, paying taxes and providing their family with a home, we cannot allow the justice system to sever people from their finances, even less to create lifelong financial exclusion." ADNFCR-2776-ID-800156310-ADNFCR



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