What is financial abuse?
Financial abuse is a form of domestic abuse and involves an individual stopping the victim having control of their own money. You or someone you know may be suffering abuse inflicted by a partner, family member or carer.
At Virgin Money, we are signed up to UK Finance’s Financial Abuse Code of Practice Link opens in a new window to ensure as an organisation we are doing what we can to support victim-survivors.
How could I identify financial abuse?
It can sometimes be difficult to spot signs of financial abuse because there are different ways someone could take control of another person’s finances. Here are some examples:
- “My husband took out a credit card in my name and has built up a large amount of debt on it”
- “I’m not allowed access to my internet or mobile banking”
- “My partner has access to all my accounts…I don’t know anything about any of her finances”
Further information regarding signs, understanding and support can be found in UK Finance's It's Your Money Leaflet Link opens in a new window.
How can Virgin Money support victims of financial abuse?
All of our stores provide a safe, private space to talk about your situation, our staff are trained to support through conversations and will work to understand if there is anything else they can do to protect wellbeing and any accounts you hold with us. You can also contact our specialist teams below if you are experiencing financial difficulty:
Financial Care Team
0800 234 6324
Monday – Friday
9am - 5pm
If you hold a Virgin Money Credit Card, you can contact:
Specialist Support Team
0800 917 2977
Monday – Friday
9am – 5.30pm
Can I exit from a joint account?
To exit from a joint account, we do need the account to be closed This is to ensure that one customer is not left with ‘joint’ bills to pay or borrowing to repay. You may wish to open a sole account if needed.
Closing an account requires both customers to agree which we understand can be difficult in situations of abuse.
The account can be changed to ‘all to sign’ which protects both parties from funds being withdrawn without consent, or debts building up without knowledge which both customers would be liable for.
Are there other services that support victim-survivors of abuse?
Below you can find a list of other organisations which provide further support to victim-survivors.
This free helpline and website provides advice and support to women and can refer them to emergency accommodation.
The National Domestic Abuse Helpline is run by Refuge.
24/7 Freephone: 0808 2000 247
Offers advice and support to those experiencing domestic violence. They also provide safe, emergency accommodation through a network of refuges throughout the UK, including culturally-specific services for women from minority ethnic communities.
Provides a wide range of resources to help women and children giving legal and housing advice as well as tips on how to create a safety plan.
A confidential helpline for all men experiencing domestic violence by a current or ex-partner. Respect provides emotional support and practical advice and access to specialist services that can give advice on legal, housing, child contact and mental health issues.
Freephone: 0808 8010 327
Monday – Friday
9am – 8pm