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Working on Benefits and Banking Hubs

As banking hubs open up across the UK - are they meeting the needs of customers?

A new report given exclusively to Money Box is calling for more help for working families on Universal Credit. The University of Bath鈥檚 Institute for Policy Research wants the government to raise earning thresholds for extra help like free school meals, NHS prescriptions, council tax support and NHS dental help. The government says it's committed to supporting low-income families by extending the Household Support Fund by 拢421 million. It also told us its commitment to reviewing Universal Credit so people receive the support they need, saying it is taking "bold action" to help people into work so they can gain financial independence and break down the barriers to opportunity.

Banking Hubs should start offering more help for customers with advice on scams, getting online and creating Power of Attorneys according to the former chair of the watchdog, the Financial Conduct Authority. Charles Randell, who鈥檚 now a member of the Financial Inclusion Committee, says banks need to invest more in the hubs as bank branch closures continue to hit communities with more than 6,000 having closed since 2015. UK Finance, which represents banks, says significant ongoing investment is being made to support customers with access to cash and day to day banking needs.

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Presenter: Paul Lewis
Reporters: Dan Whitworth and Catherine Lund
Researchers: Emma Smith and Jo Krasner
Editor: Jess Quayle

(First broadcast 12pm Saturday 28th September 2024)

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25 minutes

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  • Sat 28 Sep 2024 12:04
  • Sun 29 Sep 2024 21:00

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