A major bank is extending a “financial health check” service across its branch network.
HSBC UK said the move builds on the success of its telephone-based Financial HealthCheck, which has seen more than 11,000 customers and non-customers receive personalised guidance on their finances.
It expects the service to be available in more than 100 branches within weeks, with more being added over the coming months.
Launched in 2016, the service gained in popularity as part of a direct response to the financial impact caused by the Covid-19 pandemic, supporting people who faced unexpected financial hardship, the bank said.
From Monday March 3, both HSBC UK’s customers and non-customers can arrange for a face-to-face discussion with one of the bank’s trained branch staff, to go through their finances to help assess and improve their financial wellbeing and financial resilience.
The 30-minute consultation covers areas such as spending habits, savings goals, responsible borrowing options and financial goals.
Other initiatives by the bank include financial wellbeing webinars, unclaimed benefit checks and an online financial fitness score tool.
Sally Williams, head of HSBC UK’s branch network, said: “Financial wellbeing is often understated or not talked about, but is such an important part of our lives.
“While it is almost five years ago, it was really the experience of many people during the Covid-19 pandemic which shone a light on individual and family finances and got people to think about it more and take action, whether that was out of necessity or voluntarily.
“We understand that everyone’s financial journey is unique. Our Financial HealthChecks are there to help people whatever their financial needs, from providing a safe and supportive environment for customers to discuss their financial concerns, through to helping develop a tailored plan to achieve their goals and ambitions.
“Like a medical check-up, it could help in identifying areas that may need to be addressed, but with a personalised approach it can also help people build a solid foundation for a stronger financial future. This, like our other financial wellbeing tools, are a valuable resource open to everyone, not just HSBC UK customers.”
One 27-year-old HSBC UK customer who contacted the bank and went through a Financial HealthCheck said he had amassed £18,000-worth of debt and had been “in a bad place”.
He said he was given “some really good options” and: “It was also suggested I sit down with my partner and tell her about the situation which I subsequently did and it all ended up working out well and she has supported me throughout.”
The customer said he has now paid off the debt and has looked forward to monthly chats with the bank to discuss his progress.
