Under the Financial Inclusion Strategy announced by HM Treasury, five major banks, Lloyds, NatWest, Barclays, Nationwide, and Santander, will partner with the homelessness charity Shelter to support people without a permanent address in opening a basic bank account. Shelter’s Breaking the Cycle programme, which already works with HSBC, will be extended to these new banks.

Traditionally, lacking proof of address has prevented many homeless people from accessing banking. Without an account, it becomes much harder to receive wages or benefits, pay bills, or save money. Under the pilot, a charity caseworker can vouch for an individual and accompany them to the branch, helping to verify identity without needing a standard address.

Shelter’s guide makes clear how the scheme works in practice: banks may accept letters from hostels, refuges, or other charities as proof of temporary address, and they may be more flexible about ID requirements.

This is not the first time a bank has offered an address-free account: HSBC UK has run a “No Fixed Address” service in some branches since 2019, in collaboration with charities. That service has now expanded: more than 100 HSBC branches now offer it.

For people sleeping rough or staying in hostels, the change could be life‑changing. Having a bank account makes it possible to receive income or benefits securely, build financial stability, and take real steps toward rebuilding one’s life.

The government hopes the move will not only break down financial exclusion but also help more people access work and housing. Economic Secretary Lucy Rigby said the plan is “about opening doors” for people who have been shut out of the banking system.

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