People with learning difficulties face financial risks due to banking barriers, report finds

People living with learning difficulties are at increased risk of financial harm due to limited access to banking services, according to a new report by Project Nemo, a not-for-profit campaign for disability inclusion in banking and financial technology, sponsored by Nationwide Building Society.

The report is based on interviews and a survey of over 1,600 people who consider themselves vulnerable. It shows that many people are forced to use unsafe ways to manage their money because banking systems are too hard to access.

Risky workarounds are common

Without proper support, people with learning disabilities often use risky workarounds, such as:

• sharing PINs with others
• allowing family members to impersonate them on the phone
• relying on others to navigate systems that should be independently accessible

These workarounds can lead to financial abuse or being taken advantage of.

This issue is being raised during Learning Disability Week, where attention is being drawn to mate crime, a form of abuse where someone pretends to be friends in order to take financial or emotional advantage of vulnerable people.

People with learning difficulties are often targeted. This may be because they’re viewed as being easier to manipulate or less likely to speak up.

Barriers to basic banking

The Project Nemo report found that 32% of adults with learning disabilities who took part in the study don’t have a bank account in their own name. Common problems include:

• remembering or entering passwords and logins
• completing security checks
• communicating with banking staff

The move away from cash towards digital payments has made everyday money management even harder for many.

Recommendations for more inclusive banking

The report offers several suggestions to help banks and tech companies make their services easier to use for people with learning difficulties.

These include:

• using clear and simple language in all digital and paper communications
• providing visual guides to help users navigate complex systems
• offering helpful tools like:
• savings pots
• ‘calm mode’ on apps to reduce overload
• wearable payment devices
• alerts to warn users before risky spending

These changes could help people feel more independent and confident with their money.

Kathryn Townsend, Nationwide’s head of customer vulnerability and accessibility, said that everyone deserves to manage their money with “confidence, dignity and independence”.

Jon Sparkes, chief executive of the charity Mencap, called the report a “hugely important step towards ensuring the 1.5 million people with a learning disability across the UK can make their financial choices safely and independently.”

He added: “People with a learning disability tell us that they can struggle to make payments safely because of complex banking systems, inaccessible payment options and a lack of ‘easy read’ information.”

“Because of these barriers, many worry about being more vulnerable to financial abuse and not being able to spend their money in the way they want to.”

A spokesperson for UK Finance, the trade body for the banking and finance industry, said the banking industry is working to be more inclusive. They encourage people to talk to their bank about available support. Customers can still access cash at post offices and banking hubs.

UK Finance also shared progress on the Disability Finance Code for Entrepreneurship (DFCE), launched in December 2024. The code helps people with disabilities start businesses by offering support like mentoring and better customer service.