New Partnership with the Bank of Scotland
Scotcash is delighted to announce a new partnership with the Bank of Scotland.
This development will result in Scotcash holding partnerships with four major banks in Scotland - including Virgin Money, RBS and Barclays - which will allow the company to drive its aim of providing accessible financial services to the financially excluded.
Sharon MacPherson, CEO said:
I am delighted to announce this partnership between Scotcash and the Bank of Scotland. The inclusion of their services and support to Scotcash's Basic Bank Account service will help us to offer our customers more options, and therefore more control over their finances.
It is suggested by a report written by Birmingham University that 1.52 million adults in the UK are still unbanked, with reasons constituting of fears relating to charges, costs and becoming overdrawn, and seeing no reason to have one due to being on benefits.
Through the partnerships between Scotcash and the listed banks, the basic bank accounts do not include any set up charges or costs, and there is no overdraft features available. It is also important for those without a bank account to understand that if they are on benefits, and will be transitioning over to Universal Credit, it is vital to have a bank account of their own as payments can only be made into bank accounts. This will not only give individuals more control over their finances, but it will keep their money safe, and will allow more freedom over purchasing and spending habits.
This service with the Bank of Scotland will be available in Glasgow only. If you would like to make an appointment to set up a basic bank account please contact us.