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Martin Lewis charity to work with Barclays, HSBC and other banks to support those at suicide risk
Martin Lewis’s charity has launched a new project aimed at transforming the support banks and building societies provide to customers who may be feeling suicidal.
The Money and Mental Health Policy Institute stated it will support Barclays, HSBC, Lloyds, Monzo and Nationwide Building Society in collaborating to test new approaches, aiming to identify effective methods and lead improvements in support.
The announcement was timed to coincide with World Suicide Prevention Day.
The organisation highlighted that banks have a crucial opportunity because of their unique insights into personal finances, allowing them to step in when customers face debt issues or falling incomes.
The “action lab” will utilise insights from individuals, research by Money and Mental Health, and guidance from a steering group including the Financial Conduct Authority (FCA).
Money and Mental Health will publish the full outcomes of these pilot schemes in the summer of 2028.
Mr Lewis, founder and chair of the Money and Mental Health Policy Institute, said: “The link between mental health difficulties and debt is a marriage made in hell – they feed off and cause each other.
“Long-term money worries grind people down, and aggressive debt collection practices can leave them feeling completely hopeless.
“Banks didn’t cause all these problems, but they are in a unique central position in people’s financial lives, and we want to see if it’s possible to take advantage of that to be able to spot when customers are in trouble and urgently direct them to the right support.
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“So I’m delighted and thankful so many major banks have committed to working with Money and Mental Health on our new suicide prevention action lab.”
Mr Lewis added: “We aim to get under the bonnet with banks to find the gaps, test new ways to identify and support people in crisis, and drive change not just with those who’ve signed up but right across the sector – and potentially save lives.”
Economic Secretary to the Treasury Lucy Rigby said: “Financial worries and mental health challenges too often go hand in hand.
“I have seen first-hand how the industry can make a real difference to people’s lives through concerted action and I am very hopeful that this excellent project will help us find new ways to support people before they reach crisis point.”
Alison McGovern, Minister of State for Mental Health, said: “The suicide prevention action lab has the potential to make a real difference in identifying and supporting vulnerable people who are at risk of suicide, and save many lives over the coming years.”
The Samaritans charity, which offers support to people who are struggling, said earlier this week it wanted to let people know that suicidal thoughts “can be interrupted” by other people – and that rather than being concerned with saying “the perfect thing”, it is better just ask if someone is okay.
If you are experiencing feelings of distress, or are struggling to cope, you can speak to the Samaritans, in confidence, on 116 123 (UK and ROI), email jo@samaritans.org, or visit the Samaritans website to find details of your nearest branch.
If you are based in the USA, and you or someone you know needs mental health assistance right now, call or text 988, or visit 988lifeline.org to access online chat from the 988 Suicide and Crisis Lifeline. This is a free, confidential crisis hotline that is available to everyone 24 hours a day, seven days a week.If you are in another country, you can go to www.befrienders.org to find a helpline near you
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