Financial regulator and National Autistic Society easy read document explains everyday banking

Former_MSE_Thiri Former MSE Posts: 10
Second Anniversary First Post I've been Money Tipped! Newshound!
edited 2 May 2018 at 9:39AM in Budgeting & bank accounts
The Financial Conduct Authority and the National Autistic Society have partnered to make an easy to read document (PDF) about everyday banking. The aim of the document is to make personal finances simpler to understand and so more accessible to everyone.

The guide was developed for World Autism Awareness Week, to raise awareness that some autistic people struggle to access financial services. However, the guide is appropriate for anyone who needs a little help with banking, for example, if you find yourself muddled between the different types of cards, insurance or loans. It can also work as a refresher for the more financially savvy too.

Have a read of the document (PDF) and let us know what you think. Did the document help you understand something you’d never quite got the hang of before? Share your thoughts below.
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  • sandy1267
    sandy1267 Forumite Posts: 27 Forumite
    I'm glad someone has taken notice of this problem - my autistic son opened a bank account, no one bothered checking his financial status and automatically gave him an overdraft, which he didn't have a clue about. He went £1.50 into said O/D and now owes a fortune in interest, the bank won't speak to me as it's his account and he doesn't even know his account number (which isn't printed on his card) !!!55357;!!!56868; It's so irresponsible!
  • stojom
    stojom Forumite Posts: 78
    Seventh Anniversary 10 Posts
    Open a simple account ( details on martins site) such as with co-op, doesn’t have overdraft facilities. you can use it jointly with
    Him. Also consider financial power of attorney so you can control finances on his behalf without any interference.
  • IrishWasherWoman
    IrishWasherWoman Forumite Posts: 39 Forumite
    I have two autistic sons. We are made Appointed Persons by the Benefits agencies to ensure their benfits are safe and used wisely on their behalf. As part of this process, we had to set up joint acc.s so we'd have instant unfettered access to these accounts at any time.
    We are also in the process of getting power of attorney for financial and welfare matters, but that seems very drawn out.
    It was a bit problematic opening the joint accounts as our bank didn't like us having our names on quite so many acc.s, and one of our sons had to go to a different bank.
    Sadly, your's is a nightmare we're anxious to avoid. Your son and you need some muscle - go to the Citizens' Advice Bureau, they'll point out his/your rights, and sign-post you to the relevant helpful organisations. If only the bank could see his plight - I suspect they're not allowed to pile all these charges on him, as most of the "debt" is due to their charges anyway.
    Send a strongly worded letter to the bank's head office, threatening to go to the Financial Ombudsman if they don't exercise some compassion on a disabled person and his carers.
    Who are this bank anyway? Need to give them a wide berth!
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