Understanding vulnerability Extra support Identifying vulnerability
What to do when identifying a vulnerable customer Where to get help
It is important to recognise that anyone can be or become vulnerable at any point in their life, and some customers may be at a higher risk of harm than others. Metro Bank uses the same definition as the FCA:
A vulnerable customer is someone who, due to their personal circumstances, is especially susceptible to harm, particularly when a firm is not acting with appropriate levels of care.
Metro Bank is able to offer extra support to help make banking easier for customers. With their consent, we can make a note on their accounts about any extra support they need. This means they won’t need to mention it again, and our colleagues can make sure we always offer the right help in the future.
If the customer is happy to discuss and has given their permission, please ensure you record that the customer is vulnerable within the application notes, along with any supporting information.
Our Mortgage Servicing Team will give the customer a call back during onboarding to confirm the additional support that we will provide.
Disclosure of vulnerabilities will not negatively affect their application but will help us to make sure our customers get the best service both during the mortgage application process and after completion.
For an existing Metro Bank customers who are in financial difficulty and who need specialist support, please advise the customer to call the mortgage servicing team on 0345 319 1200. If you’d like to deal with this on their behalf, we will need a signed letter from your customer giving authority for you to do so, or for the customer to be present when you call.
Keep in mind that:
Over 800,000 people are living with varying degrees of Dementia in the UK and this is expected to double over the next 40 years.
And just under half of UK adults have a numeracy attainment age of 11 or below.
Every 2 minutes someone in the UK is diagnosed with cancer
16% of working adults have a disability.
1 in 7 adults has literacy skills that are expected of a child of 11 years or below.
In any given year, one in four adults experiences at least one mental disorder.
There are four drivers of vulnerability, these can be permanent or temporary, these drivers mean that someone is potentially more susceptible to harm. Customers may also experience more than one driver of vulnerability, which may increase their risk of experiencing harm. Not all customers will let us know about their personal circumstances, but it is important that you are able to identify signs that someone may need extra support.
Health conditions or illness that affect the ability to carry out day to day tasks
Low ability to withstand financial or emotional shocks
Negative life events
Low knowledge of financial matters or low confidence in managing money (financial capability). Low capability in other arears such as literacy or digital skills
Metro Bank is able to provide extra support to its customers to help make banking easier, and we can make a note of the support so that the customer won’t need to tell us again in the future
We will always let the customer know how we will record this information, and ask for their consent before we make a note on their customer profile. Customers will have complete control over this information and can change or remove it at any time
Metro Bank seeks to help all customers secure the mortgage they want, but it’s important that they understand the long-term commitment and if it’s right for their circumstances.
You should look out for any evidence that a potential customer could be vulnerable and take extra care that they are not entering into a commitment which they don’t understand or may not be in their best interests.
Vulnerable customers may require further help with their mortgage application and the following information in this document will provide you with guidance on what you should do in these cases
You can use BRUCE to help identify vulnerability when you are interacting with your customers:
When it comes to having a conversation with customers who may need additional support, we suggest using the communication cycle. Below is an image of the communication which shows the 4 stages and their definition:
The communication cycle allows a two-way conversation so that the customer is fully involved and gives them the opportunity to express their views. The communication cycle has a huge impact when it comes to vulnerable customers as it allows the customer into the conversation by asking further questions if needed and ensures that we are listening to exactly what is being said so that we are fully informed. We are then able to use the acknowledge section to confirm our understanding and show the customer we have listened.
You can use TEXAS to help you to structure your conversation where a customer has disclosed personal information indicating they need additional support.
At Metro Bank, we are all about providing unparalleled levels of service and convenience to our customers; this means identifying when customers are vulnerable or are at risk of becoming vulnerable.
If the customer is happy to discuss and has given their permission, please ensure you record that the customer is vulnerable within the application notes, along with any supporting information.
Our Mortgage Servicing Team will give the customer a call back during onboarding to confirm the additional support that we will provide.
Disclosure of vulnerabilities will not negatively affect their application but will help us to make sure our customers get the best service both during the mortgage application process and after completion.
For an existing Metro Bank customers who are in financial difficulty and who need specialist support, please advise the customer to call the mortgage servicing team on 0345 319 1200. If you’d like to deal with this on their behalf, we will need a signed letter from your customer giving authority for you to do so, or for the customer to be present when you call.
More information about the extra support Metro Bank can provide can be found on our webpage dedicated to extra support for our customers.
There are many organisations that can provide help and support, too. Here’s a list of some of them and their contact information:
0800 055 6112
0300 222 1122
03444 111 4444
0808 808 1677
0808 808 0000
0808 808 1111
0300 123 3393
116 123
0800 138 1111
0808 168 9111
A vulnerable customer is someone who, due to their personal circumstances, is especially susceptible to harm - particularly when a firm is not acting with appropriate levels of care.
This may be a customer with a physical impairment or limited understanding of the English language. Sometimes life events such as new caring responsibilities, a bereavement, divorce, or redundancy can lead to a customer becoming vulnerable.
Anyone can become vulnerable at any time and this may be temporary or permanent.
Vulnerable customers may be at increased risk of detriment if their needs are not properly supported throughout their relationship with us. Therefore, it’s important you are able to identify a prospective Metro customer who may be vulnerable.
At Metro Bank, we are all about providing unparalleled levels of service and convenience to our customers; this means identifying when customers are vulnerable or are at risk of becoming vulnerable.
If the customer is happy to discuss and has given their permission, please ensure you record that the customer is vulnerable within the application notes, along with any supporting information.
There are many charities and organisations that support customers with vulnerabilities such as the Citizens Advice Bureau (www.citizensadvice.org.uk/). Metro Bank has partnered with the following organisations:
You can find out more on our dedicated Vulnerable customers page.