032 What Is Financial Exclusion And Why Does It Matter?

Many temporary and agency workers are financially excluded, an issue that is not well known so we’re highlighting it in today’s episode.  So what exactly is it, and why does it matter?  To help answer these questions, we’re talking to Matt Oldham of Unizest, who tells us:

  • One in four people in the UK will be financially excluded at some point in their life;
  • There is a poverty premium; people who are paid the least get the worst service and options;
  • Bank accounts are facilitators for life, yet workers don’t always have one so can’t be paid;
  • Everyone has a right to be paid properly!

There is not enough awareness about financial exclusion which particularly affects workers from overseas who come to UK for critical, and often precarious roles.  In the worst cases of financial exclusion there can be modern slavery which means that these excluded people have no basic rights and might not even be aware of their plight.

We all need to do more to tackle the problem, so start now by listening to this episode and increasing your own awareness of the issue.

Resources
About Matt Oldham

With an established fintech background and expertise in payment technology, Matt co-founded Unizest in 2021 in order to help newcomers to the UK get on with their life by providing a hassle-free e-current bank account.  Through their innovative approach Unizest aims to smooth peoples transition to the UK by removing one of the biggest hurdles they face – setting up banking services.

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