The warning signs of financial abuse, and the new banking tool designed to help victims

Nationwide Building Society has introduced a new feature designed to help protect survivors of domestic and financial abuse by blocking harmful payment references.

The new tool allows customers to hide abusive or distressing messages attached to incoming bank transfers, a tactic sometimes used by perpetrators to maintain contact, exert control, or intimidate victims.

The feature is available through the Nationwide app, and the building society is also exploring whether it can be extended to Virgin Money customers. Nationwide and Virgin Money became part of the same group in October 2024.

According to the charity Surviving Economic Abuse (SEA), an estimated 4.2 million women across the UK have experienced economic abuse by a current or former partner.

What is financial abuse?

Financial abuse is a form of coercive control where one person uses money or access to resources to dominate another.

According to SEA, financial abuse can involve controlling a person’s:

• income
• spending
• bank accounts
• bills
• borrowing

It can also include restricting access to essentials such as:

• food
• housing
• transport
• clothing
• technology

Warning signs of financial abuse

Your partner controls all the money

One major warning sign is when a partner insists on managing all finances.

They may demand your wages are paid into their account, stop you opening your own bank account or credit card, or force you to ask for money or an ‘allowance’.

Everyone has the right to financial independence.

Your spending is constantly monitored

An abusive partner may demand receipts, question every purchase, or accuse you of wasting money.

This level of control is not healthy or normal in a relationship.

Your partner prevents you from working

Financial abusers often try to stop their partner from earning their own income.

They may discourage job applications, disrupt work by repeatedly calling or turning up unexpectedly, or make you feel guilty for wanting a career.

Money is withheld for essentials

Some abusers refuse access to money for necessities such as food, clothing, heating, or medication.

Denying someone basic needs is a form of control.

You are forced to hand over your wages

Being pressured to give your salary to a partner is another clear sign of abuse.

What begins as a shared financial arrangement can become one person taking complete control of household income.

Financial information is hidden from you

Secrecy around money can also indicate abuse.

Warning signs include a partner:

• making large purchases without telling you
• hiding bills or bank statements
• becoming angry when questioned about finances

Other signs to watch for

Other potential indicators of financial abuse include:

• unexplained cash withdrawals or missing money
• unpaid bills despite someone supposedly managing finances
• being isolated from friends and family
• assets transferred without explanation
• a sudden drop in living standards, such as lack of food or heating

Where to get help

If you suspect financial abuse, it’s important to take action. Financial abuse often occurs alongside other forms of abuse.

If you are in immediate danger, call 999.

If you are concerned about your safety, you can contact the following 24-hour domestic abuse helplines:

• National Domestic Abuse Helpline (England): 0808 2000 247
• Live Fear Free Helpline (Wales): 0808 80 10 800
• Domestic Abuse and Forced Marriage Helpline (Scotland): 0800 027 1234
• Domestic and Sexual Abuse Helpline (Northern Ireland): 0808 802 1414

If you need advice about financial abuse, Surviving Economic Abuse offers specialist support.

You can also contact the Financial Support Line on 0808 196 8845 for confidential advice.

Read more about spotting the signs of financial abuse.