Lloyds TSB helps migrant workers become financially literate

13 December 2006
Lloyds TSB has unveiled a set of new measures to make opening a current account easier for Polish customers in the UK.

The bank will produce account-opening forms in Polish and recruit more Polish-speaking staff.

It has also relaxed identification requirements, which often excluded non-UK citizens by demanding they show utility bills tracing UK residency history.

Lloyds' research revealed that 21 per cent of Poles interviewed cited sorting out their finances as their biggest concern when moving to the UK, while 23 per cent anticipated that the account opening process would be complex.

Gerard Schmidt, Lloyds TSB transaction banking director, described the Polish community as "a fast growing community, filling essential gaps in the labour market" with "bright" future prospects.

The recent Treasury Select Committee report, Banking the Unbanked, identified migrant workers as one group at risk of being financially excluded due to the potential or perceived difficulties of setting up a bank account.

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