Prisoners deserve current account interest rates, says Barclays

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Prisoners deserve current account interest rates, says Barclays

Tue 28th Sep 2010

Bank accounts are necessary for rebuilding lives, according to Barclays, which is why the firm is extending its product for people in prison.

In partnership with Unlock, the institution will offer bank account facilities to individuals nearing the end of their sentences in 14 prisons across the UK.

Managing director of current accounts, savings and mortgages at Barclays Mark Parsons suggested people who have formerly been incarcerated may not be financially literate.

"Partnering with charitable organisations that spend time in working with these groups will make it easier for prisoners to rebuild their lives," he said.

Previously, Barclays and Unlock had piloted the scheme in three prisons as part of its Unlocking Banking campaign, which offers help to prisoners regarding how to manage their finances and overcome exclusion.

Last month, Co-operative Financial Services announced that 1,000 prisoners had signed up for its basic bank accounts at HMP Forest Bank in Greater Manchester.

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