Banks must offer basic account options, as given to other vulnerable people, to assist those struggling with mental health conditions, a think tank says.
Mental health problems affected everyday activities such as budgeting and paying bills, the Money and Mental Health Policy Institute (MMHPI) said.
Setting spending limits on cards and allowing people to set how banks contacted them would help, it said.
The trade body for High Street banks has vowed to improve inclusion.
In its mission statement covering 2016-18, the British Bankers’ Association said that the “crucial part of the industry commitment to raising standards” should include working with mental health initiatives.
The MMHPI said one in four people could suffer from mental health issues in any one year. It has published research suggesting that periods of poor mental health put people at risk of financial trouble.
For example it found that people with depression or post-traumatic…
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