<p><strong>Support for vulnerable customers during Covid-19 outbreak</strong></p>
<p>The banking and finance industry has introduced a number of measures to support customers in vulnerable circumstances throughout the coronavirus pandemic. These include:</p>
<ul><li><strong>Payment deferrals: </strong>The industry has offered 1.9 million <a href="https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2F74n5c… payment deferrals</a>  <a href="https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.u… million interest-free overdrafts</a>, 1.05 million payment deferrals on credit cards and 707,000 payment deferrals on personal loans, to help customers whose finances have been impacted by coronavirus.</li>
<li><strong>Payments and third-party access for vulnerable people: </strong>The industry has put in place a series of measures to help individuals that are shielding access cash and pay in a way that suits them. UK Finance has published a <a href="https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.u…; on accessing cash and making payments safely during the lockdown, including through third-party withdrawal services and currency home deliveries. </li>
</ul><ul><li><strong>Dedicated vulnerable customer support:</strong>. A number of firms have established dedicated vulnerable customer helplines to ensure that customers are getting support quickly and efficiently, this involves taking customers through setting up of digital banking if devices are available and customer is happy to proceed on that basis. A number firms have been proactively contacting vulnerable customers to ensure they have the support they need.</li>
<li><strong>Covid-19 scams: </strong>UK Finance is warning customers about criminals seeking to exploit financial concerns over Covid-19 to commit fraud, providing bespoke advice about common scams through the <a href="https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2Ftakef… Five to Stop Fraud</a> campaign. The Dedicated Card and Payment Crime Unit has successfully targeted and disrupted several criminal gangs involved in Covid-19 related scams.</li>
<li><strong>Financial abuse: </strong>With the crisis placing additional risk of harm to those suffering from financial abuse, individual firms have been working jointly to support vulnerable customers, including reviewing internal training, updating guidance and backing the Home Office?s #YouAreNotAlone Campaign</li>
<li><strong>Homelessness: </strong>UK Finance is working with the Ministry of Housing, Communities and Local Government (MHCLG) to help rough sleepers to open a bank account if required, when moving from local authority provided accommodation to more permanent accommodation and with the Ministry of Justice on similar support for offenders that are being released early from prison, such as pregnant women.</li>
</ul><p>Other measures previously introduced by the industry to support customers in vulnerable circumstances include:</p>
<ul><li><strong>Financial Services Vulnerability Taskforce</strong>: The banking and finance industry is committed to helping customers in vulnerable circumstances including through implementing the <a href="https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.b…; of the Financial Services Vulnerability Taskforce. These include providing a sensitive and flexible response, forbearance, lending criteria and vulnerability and the use of escalation points. </li>
</ul><ul><li><strong>Financial Abuse: </strong>In November 2018, the banking and finance industry committed to new <a href="https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.u… of practice</a> to support victims of financial abuse that is being rolled out over the course of 2019. A list of the firms who have committed to the voluntary agreement can be found <a href="https://eur01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.uk…;
</ul><ul><li><strong>Basic Bank Accounts: </strong>Banking and finance industry is committed to financial inclusion and currently provides basic bank accounts to 7.4 million consumers who may otherwise be unbanked. The sector has successfully reduced the number of adults believed to be ?unbanked? by over a quarter, from 1.71 million in 2014 to 1.23 million in 2017.</li>
</ul><ul><li><strong>Power of attorney:</strong> The financial services industry has undertaken significant work to streamline processes for registering powers of attorney, making it easier for approved third parties to manage a customer?s account. The new cross-sector guidance published this week is a positive step, providing greater clarity and consistency for firms dealing with powers of attorney and deputyships across the regulated sectors.</li>
</ul><ul><li><strong>Accessibility</strong>: Banks offer a range of services to support blind and deaf customers, including talking ATMs, cards and statements with braille markings, sign language web chats and mobile banking apps that use voice and touch recognition.</li>
</ul><ul><li><strong>Protecting customers from scams</strong>: UK Finance has worked with consumer groups as part of the Authorised Push Payment Steering Group to develop a <a href="https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.u… Code</a> to better protect customers and reduce the occurrence of authorised push payment fraud. The Code became effective for signatory firms on 28 May 2019.</li>
</ul><ul><li><strong>Account opening: </strong>Providers will seek to work with the individual to establish whether other forms of identification (ID) can be used if the more common forms of ID are not available. They are increasingly accepting online Universal Credit Statements or HMRC documentation as a form of account opening identification, facilitating access to those without standard ID and address documentation.</li>
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