Exploring Safe Banking Options for Vulnerable Adults

As a mum and full-time carer for a vulnerable adult, I’ve been trying to find the best way to help my loved one manage their money safely and independently. It’s really important to me that they have some financial freedom, but also that their money – and personal safety – are protected.

I recently visited Lloyds Bank to ask for advice. The staff were kind and helpful, and they did have some options, such as setting spending limits. However, I found the process quite complicated. You have to go home, open the account online first, and then go back to the bank to finish setting it up and ask staff to add any limits. For someone with additional needs, this kind of process can be overwhelming.

I also spoke to ChatGPT for advice, and it suggested looking into GoHenry for adults. I hadn’t heard of it before, but after exploring, I found it much simpler and more flexible. It gives the person more freedom to use their money safely, while also giving peace of mind to carers and family members. You can set limits, track spending, and support independence – all in one place.

There’s still a long way to go to make banking more accessible for vulnerable people, but I hope by sharing my experience, others in a similar situation might find a solution that works for them.

Have you found good tools or banking options that work for your loved ones? I’d love to hear more suggestions.