Martin Lewis is urging banks and finance companies to help people who, in "desperate times" feel their only way to access food and vital supplies is to "break the rules".
In a campaign for his Money and Mental Health charity, he said more tools are needed to help vulnerable people share money management.
“People want to be responsible for their own money. Yet some struggling with mental health issues know there are times they can’t be responsible… so the responsible thing for them to do at those times is to get a trusted family member or friend to help," he says.
“Yet when they try, often the cogs of the financial system seize up. The tools needed just aren’t widely available. The only recourse, often at a desperate time, is to break the rules, leaving them forced to shed the cloak of normal financial protections – putting them at risk of losing money, financial abuse, and worried about being disenfranchised from access to financial services.
“The technology is available, we just haven’t seen it used enough to help those with mental health issues.”
Mr Lewis added: “We need tools so that people can share money management more easily and without putting themselves or their carer in harm’s way.”
Important info if you bought a car, motorbike or campervan on finance from April 2007 to Nov 2024.
A snippet from the new ‘car finance mis-selling everything you need to know' Martin Lewis Podcast available on https://t.co/Chh0BSjeGm , Apple, Spotify & all the usual pod players. pic.twitter.com/Nn8s2Yu0cU— Martin Lewis (@MartinSLewis) October 10, 2025
The charity is calling for action to make it safer and easier for vulnerable people to get support from a trusted person to manage their day-to-day finances, amid concerns that “workarounds” could be leaving some people at risk of fraud or abuse.
Analysis by the Money and Mental Health Policy Institute of the Financial Conduct Authority’s 2022 Financial Lives survey indicates around a fifth (22%) of people with mental health problems have resorted to sharing their PIN or bank details with someone else to get help with managing their finances.
The charity, founded and chaired by Mr Lewis, is calling for action to make it safer and easier for people to get support from a trusted person to manage their day-to-day finances.
Two-fifths (42%) of people with mental health problems have wanted help with managing day-to-day finances from a trusted person, such as a friend or family member, according to research in 2019 for the charity.
Common symptoms of mental health problems such as reduced memory, increased impulsivity or low mood can make it hard for people to manage financial admin and bills, or to go out shopping for essentials.
The charity said financial services firms do not consistently offer appropriate tools for getting support from a trusted person to manage everyday finances in a safe and easy way.
For example, only some current account providers offer a carers’ card that can be given to a trusted person to buy them essentials such as groceries if they are too unwell to leave the house.
Some firms will let people allow a trusted person to receive alerts about their account, which can help them spot warning signs that someone might be struggling with their mental health or finances.
People can also use formal tools such as power of attorney to get support with decisions, but Money and Mental Health said its research suggests that many people with mental health problems struggle to use it, with concerns raised about it being difficult to set up and not offering the right flexibility for people whose conditions fluctuate.
The charity argued that a lack of adequate tools for getting support from a trusted person to manage everyday finances is resulting in people with mental health problems resorting to “risky workarounds” such as sharing their passcodes.
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One research participant said they were “coerced” into giving someone they had thought they trusted thousands of pounds.
Other participants raised concerns about losing their bank account as a result of breaching the terms of their contract, or getting their carer into trouble through unauthorised practices for sharing money management, the charity said.
Money and Mental Health is calling for current account providers to consistently offer a standard package of tools to make it easier for people to share money management in a safe and legally protected way.
At the minimum, this should include carers’ cards; third-party account notifications that can be received by a trusted person; and third-party payment controls, such as the ability to block certain payments such as gambling, the charity said.
A voluntary agreement among financial services firms could be part of the upcoming Financial Inclusion Strategy, the charity said. It added that this could be modelled on an agreement among current account providers to make basic bank accounts available to people who did not have one.
A review of the power of attorney system to consider how it could better meet the needs of people with mental health problems is also needed, the charity said.
What's he done? He's only gone and set up a YouTube channel (well I've taken over the MSE one) and it's already packed with more MoneySaving videos than Blockbuster in 2002. Do take a peak and subscribe if you fancy... https://t.co/BgZ5i3AwYW
— Martin Lewis (@MartinSLewis) October 9, 2025
Helen Undy, chief executive of the Money and Mental Health Policy Institute, says: “For many people with mental health problems, getting the support of a loved one to manage money is the difference between keeping their head above water financially or falling into serious money problems.
“It is unacceptable that people have to put themselves at risk of harm to get that support because banks aren’t providing the right tools to do this safely and easily.”
The charity said the research is sponsored by Nationwide Building Society, but Money and Mental Health retains full editorial control over it.
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Kathryn Townsend, head of customer vulnerability at Nationwide Building Society, adds: “The findings highlight the need for accessible and flexible tools that enable individuals to get the support they need safely.
“We hope that industry will take a cue from these recommendations to ensure that no-one is left behind when it comes to managing their money, especially during times when they need help the most.”
The research included a review of the websites of 18 banks and building societies by Money and Mental Health, as well as analysis of the FCA’s 2022 Financial Lives Survey. A survey of more than 2,000 people was also carried out by Populus for the charity in June 2019.
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