At Stake, we understand that some customers may be more vulnerable than others, and we take our responsibility to these customers very seriously. A vulnerable customer is defined as someone who, due to their personal circumstances, permanent or temporary, may be at a disadvantage when dealing with financial services providers.
Many situations can lead to a client becoming vulnerable, however, these can be broken into four key categories:
- Health – health conditions that affect ability to carry out day-to-day tasks e.g. mental or physical disabilities, illness, injury etc.
- Life events – such as bereavement, job loss etc.
- Resilience – low ability to withstand financial or emotional shocks such as low or unstable income, overindebtedness, unemployment etc.
- Capabilities – low knowledge of financial matters or low confidence in managing money (financial capability). Low capability in other relevant areas such as literacy or digital skills.
We are committed to treating vulnerable customers fairly and ensuring that they receive the same level of service as all our customers. We have policies and procedures in place to identify and support vulnerable customers, including but not limited to:
- Training our staff to recognise and respond to signs of vulnerability.
- Clear and accessible communication e.g. simple communication using plain English and avoiding technical or confusing language, offering a range of communication methods, such as telephone, email to suit your needs.
- Monitoring and reviewing our practices to ensure that they remain effective and compliant with FCA regulations.
We are here to help! If you think you may be a vulnerable customer, please let us know so that we can provide the appropriate support and assistance. You can contact us by phone or email at email@example.com.
You may also seek external support from the following organisations based on your circumstances:
Vulnerable customers that are at risk of suicide or in a state of depression or heightened anxiety should contact the Samaritans
We take the privacy and confidentiality of our customers very seriously, and we will only share information about your vulnerability with your permission, or if required by law.