Overview

• New analysis of the FCA’s 2022 Financial Lives survey finds about 22% of people with mental health problems have shared their PIN or bank details to get help.
• A review of 18 banks and building societies found only seven offer carers’ cards, three provide third‑party notifications, and just one enables partial third‑party control.
• The charity is urging current account providers to adopt a minimum offer that includes carers’ cards, third‑party alerts, and payment controls such as gambling blocks.
• It says power of attorney is often difficult to set up and lacks flexibility for people whose conditions fluctuate, leaving many to rely on risky workarounds.
• UK Finance acknowledges existing tools but cites legal complexities and calls for clearer legislation, while Nationwide, which sponsored the research, supports more accessible solutions.