Background-- Households without a current account-- Why are people outside the banking system?-- Budgeting without a current account-- Conclusions.
(source: Nielsen Book Data)
There is a significant minority of households who operate their household budgets outside the banking system and therefore have no access to the facilities that others take for granted. The research on which this report is based was intended to "assess the need for, and possible ways of providing, banking services to low-income households, and to assess the impact it would have on the administration of social security". The report begins with an overview of the availability of banking facilities both in Britain and elsewhere, then looks in detail at who is least likely to have a current account. It then looks for explanations of why some households do not use current accounts to manage their household budgets, reviews how households who do not use banking facilities manage their household budgets, and concludes by exploring the range of possibilities for providing banking services to low-income households. (source: Nielsen Book Data)