Why Financial Inclusion Matters In The UK.
Financial Inclusion is still a problem. Managing money should be straightforward, but for many people, accessing and using financial services can still present challenges. Being able to receive money securely, pay for everyday essentials and keep track of spending is an important part of modern life. However, not everyone finds financial services easy to access or simple to use, and some customers may prefer straightforward tools that help them manage their day-to-day finances with confidence.
Financial inclusion remains an important issue across the UK. Around 900,000 adults were estimated to be unbanked in 2024, while many households continue to face financial pressure, with 10% of UK adults having no savings and a further 20% holding less than £1,000 in savings. These figures highlight the importance of accessible financial products that help people receive money, make payments and manage their finances safely and effectively.
The good news is that the UK Government is actively working to improve financial inclusion, and there are now more options than ever to help people get started. From digital banking services to prepaid accounts and e-money providers, a growing range of solutions are making it easier for people to access financial services and build confidence in managing their money. Digital banking services, prepaid accounts and e-money providers can offer simple and accessible ways to receive money, make purchases and manage your finances without needing an established UK credit history. For many people, these solutions provide a useful stepping stone while they settle into life in the UK and establish their financial footprint.
From Access to Confidence: How DOSH Supports Financial Inclusion
While the growing range of financial services are helping people take their first steps into UK banking, access is only part of the journey. For many newcomers and financially excluded individuals, confidence, trust and understanding are just as important as having somewhere to receive money.
This is where solutions such as DOSH are helping to bridge the gap. Designed to support people who may have been excluded from traditional financial services, DOSH is a prepaid Mastercard® focused on removing some of the barriers that can prevent access to everyday money management. Whether someone has difficulty providing standard documentation, or simply finds mainstream banking confusing, DOSH aims to provide a simple and more accessible way to manage money.
DOSH combines essential financial functionality, such as receiving money, making payments and managing spending, with tools designed to help users feel more in control of their finances. With features such as spending insights and budgeting support due to be released later this year to complement the financial education resources already live, DOSH aims to help people develop healthy money habits and build confidence over time.
Importantly, DOSH is built around the belief that financial inclusion is about more than transactions. It is about enabling people to participate fully in everyday life with dignity, independence and security. By providing straightforward access to essential financial services and supporting users on their financial journey, DOSH can help turn financial access into positive daily outcomes.
Whatever option you choose, the principles remain the same: being able to receive money securely, pay for goods and services easily, and stay on top of your spending. This is especially important given that 13.1 million UK adults are considered to have low financial resilience. Many modern financial products now include budgeting tools, spending alerts and mobile apps that can help you build healthy money habits, feel more in control and gain confidence in managing your finances from day one.
Frequently Asked Questions About Financial Inclusion
What is financial inclusion?
Financial inclusion refers to ensuring that everyone has access to useful and affordable financial products and services that meet their needs. This includes the ability to receive money, make payments, save, budget and manage finances safely and securely. For more information, visit the UK Government’s Financial Inclusion Committee: https://lordslibrary.parliament.uk/financial-inclusion-committee/
How many people in the UK are unbanked?
Recent estimates suggest around 900,000 adults in the UK do not have access to a bank account. Many more people also face barriers to accessing mainstream financial services, including issues with identification requirements, credit history or digital access.
You can read more about financial exclusion from: https://fair4allfinance.org.uk
Can I manage my money without a traditional bank account?
Yes. Many people use prepaid accounts and e-money solutions to receive money, make purchases, pay bills and manage everyday spending. These services can provide a practical alternative for people who may not qualify for, or wish to use, a traditional bank account. Learn more about the DOSH account: What Is DOSH?
Is DOSH a bank account?
DOSH is not a bank. DOSH is a prepaid Mastercard® account designed to help people manage their money more easily and confidently. It provides everyday money management features that can help users receive money, make payments and stay on top of spending. Find out how DOSH works: About DOSH
Is DOSH secure?
Security is a key part of every DOSH account. DOSH is built on trusted payments expertise and uses security measures designed to help protect users and their money. Users can also monitor transactions and manage their account through the MyDOSH app. Read more: Security and Trust at DOSH
How can I improve my confidence with money management?
Building confidence often starts with understanding your spending, creating a budget and using tools that help you stay in control. Many modern financial services now include budgeting support, spending insights and educational resources that can help users develop healthy financial habits over time. You may also find the MoneyHelper guidance useful: https://www.moneyhelper.org.uk
What support is available for people who are financially excluded?
A range of organisations across the UK provide support with financial inclusion, including guidance on budgeting, benefits, debt management and access to suitable financial products.
Useful resources include:
- https://www.moneyhelper.org.uk
- https://fair4allfinance.org.uk
- https://www.citizensadvice.org.uk