UK banks including Santander, HSBC and NatWest will proactively reach out to customers ahead of expected bill increases. The move follows efforts to support those facing financial pressure amid rising living costs.
From next month, millions of households in the UK will face increases in key living expenses, including energy, water and council tax. These changes are expected to tighten budgets for many, with banks taking steps to identify and support customers who may be affected.
Several high street lenders have announced they will begin contacting individuals showing signs of financial stress. These efforts come as part of a broader response to the ongoing cost-of-living crisis and are designed to prevent financial issues from escalating.
Proactive Support Initiatives From Santander and Hsbc
Santander and HSBC are stepping up early intervention strategies to help customers before financial difficulties deepen.
According to Tom Snodgrass, Santander UK’s Head of Financial Support, the bank will be “closely monitoring the impact of higher bills” and may proactively reach out to customers displaying early warning signs of hardship. These indicators include reduced monthly balances, increasing mortgage pressure, or reliance on benefits.
Santander has encouraged those anticipating difficulty to contact the bank before reaching crisis point. The bank is focusing on delivering tailored solutions, which may include repayment plans or access to financial planning tools.
Similarly, HSBC stated it has systems in place to flag potential financial risks before they escalate. According to a bank spokesperson, HSBC “strongly encourages customers not to wait until they are in financial difficulty before seeking help”.
The bank’s cost-of-living hub has received over 300,000 visits since its launch, with 155,000 people attending financial wellbeing webinars since 2020. In 2024 alone, HSBC logged 2.4 million customer interactions across digital, telephone and in-person support channels.
An HSBC customer identified as Harry, 28, shared his experience with £20,000 in credit card debt, which stemmed from lifestyle overspending. After reaching out, the bank’s advisers helped him restructure his debt through a balance transfer and introduced budgeting strategies, which he described as “invaluable”.
NatWest Sees Positive Trends in Customer Saving Behaviour
While Santander and HSBC focus on identifying financial pressure points, NatWest highlighted a shift towards proactive saving among its customer base. According to the bank, February saw an 80% increase in use of its app’s round-up feature, which automatically transfers spare change into savings accounts.
The bank also confirmed enhanced support measures for struggling borrowers. These include interest freezes and the suspension of fees for customers engaging with its financial health teams. The approach aims to combine digital tools with personalised financial assistance to build long-term resilience among clients.
