Other Financial Products and Services
Bank accounts
The UK Government HM Treasury and the banking industry have a shared goal of halving the number of adults in households without a bank account.
Savings
The UK Government wants more people to be able to enjoy the benefits of saving and since 1997 has put in place a number of reforms to encourage people to do so. These include;
- introducing the Child Trust Fund (CTF), which will promote saving and financial education and will ensure that in future all children have a financial asset at age 18, regardless of family background.
- announcing that the Saving Gateway, a cash saving scheme to promote saving and financial inclusion for those on lower incomes, will be introduced nationally, with the first accounts available to savers in 2010.
The UK and Scottish Government have also supported credit unions, which promote saving.
Insurance
In 2007, the Scottish Government commissioned research exploring the take-up of home contents insurance ( full report and research findings)