Suits Me® Simplified: Banking 101

Reasons why People are Unbanked

Most unbanked people will be in their position either because they decided to step away from traditional banking or were rejected by high street banks…

Among the one million UK residents without a bank account, you’ll find many reasons as to why they are unbanked. But leaving all illegal reasons to one side, most unbanked people will be in their position either because they made a decision to step away from traditional banking, or because they were rejected by high street banks when trying to open a new current account.

Below, we list some of the main reasons for people not to have a bank account:

Why are People Unbanked?

Unexpected or unexplained fees

Fees aren’t totally avoidable. If you would insist on using free services only, you run the risk that these turn out to be too good to be true. But what is important, is the fact that banking facilities should be completely transparent about the charges they make. If there are any fees or costs, they should never be hidden. Common worries regarding unexpected fees involve overdraft fees, which can be high and charged daily, or fees for taking out money from a cash point.  

A Bad Experience or Bad Customer Service

We’ve all heard horror stories of people who have experienced bad service on their bank accounts or bad customer service. To some, this can mean they lose trust in the system and they chose to close their account altogether. 

Not Feeling like the Bank Meets your Moral or Ethical Beliefs

To many banks, profit is their overriding objective. When banks aren’t being fully transparent on which companies or projects they provide finance too, this can lead to a moral conflict with their customers. There are other, more ethical options for consumers to consider, such as credit unions. 

Being Declined by Banks

Some new or returning customers are being declined by banks because they might have a record of minor financial mistakes, such as a bounced cheque or a small overdraft. On other occasions, a potential customer might be rejected by high street banks because they have only recently arrived in the country and lack a full-time address. Bank managers work to strict rules and they don’t tend to like exceptions. 

Alternative Account Solutions

Not having an account to manage finances can have a big impact on the life of consumers, who might have to spend more time sorting out basic financial transactions, as well as paying more for accessing the same services. Alternative facilities, such as Suits Me®, can provide a vital service to provide consumers with benefits that are similar to those of a bank account.

Suits Me®

Suits Me® is a membership scheme that offers all its members a Mastercard® debit card that can be used in stores, online and over the phone. Members will also get access to online banking-like facilities, making it easier to take charge of their day-to-day finances.

If you would like to know more about the Suits Me® card, or find out how your company or agency can sign up for Suits Me® membership, please visit or contact us on

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