As April approaches, some of the UK’s largest banks, including Santander, HSBC, and NatWest, are taking proactive measures to assist customers who may be struggling financially. With rising energy costs, water bills, and council tax looming, these banks are ramping up their outreach efforts to ensure that those facing financial difficulties receive the support they need.
Energy prices increased by 6.4% on March 25, 2025, adding to the financial strain many households are already feeling. According to Tom Snodgrass, the head of financial support for Santander UK, the bank is committed to helping its customers navigate these challenging times. “We would urge anyone who is feeling under pressure ahead of the upcoming April price increases – whether that be with their water bills, energy bills, or everyday finances – to talk to us as soon as possible so we can discuss the best solutions,” he stated.
To identify customers who may be at risk, Santander plans to monitor the impact of the rising bills closely and may proactively contact those showing early signs of financial struggle. This could include individuals with low account balances, high mortgage repayments, or those receiving government benefits.
HSBC is also prepared to reach out to customers when it anticipates that hardship might be on the horizon. A spokesperson explained, “We know that finances continue to be squeezed by higher household bills, everyday costs and many people are feeling the pinch. HSBC UK has a programme in place for proactively reviewing where hardship might be on the horizon and helping prevent customers from falling into financial difficulty.”
Since launching its cost-of-living hub nearly three years ago, HSBC has attracted over 300,000 visitors and has hosted about 155,000 attendees at its financial wellbeing webinars since 2020. In 2024 alone, the bank recorded around 2.4 million total customer interactions through various channels, including face-to-face contact, phone calls, and digital services.
One customer, Harry, 28, shared his experience of reaching out to HSBC for assistance after accumulating £20,000 in credit card debt. He admitted, “I had a shopping issue, where I would go mad with the credit card and buy expensive designer stuff, and it spiralled out of control.” After contacting HSBC, he received guidance to switch to a 0% balance transfer credit card and was encouraged to adopt healthier financial habits, which ultimately helped him pay off his debts. He described the bank’s support as “invaluable” and recommended it to others, especially young people who may feel pressured to maintain a lavish lifestyle despite limited budgets.
NatWest has also noted a positive trend in customer savings behavior, reporting an 80% increase in the use of its round-up savings feature in February 2025 compared to January. This feature allows customers to round up transactions to the nearest pound and transfer the difference into a savings account. Additionally, NatWest has implemented measures to assist customers in financial distress, such as freezing interest on forbearance measures for struggling borrowers and waiving fees for those being supported by its financial health teams.
As the cost-of-living crisis continues to affect households across the UK, the government is being urged to enhance its response to the soaring energy prices. A report from Parliament’s spending watchdog highlighted that electricity bills in 2023 were the highest among comparable countries, with consumers owing £3.7 billion for gas and electricity in 2024—more than double the amount owed in 2021.
Sir Geoffrey Clifton-Brown, chairman of the Public Accounts Committee, emphasized the need for targeted government support: “Sharp moves in energy prices in the future must find Government fully prepared to issue targeted and effective support, with those most in need the focus of that support.” He criticized the previous approach of broadly distributing funds, which often did not reach those who required assistance the most.
In response to these concerns, an Ofgem spokesperson acknowledged the challenges many households face regarding energy costs. “If anyone is worried about paying their bills, we urge them to contact their supplier or groups like Citizens Advice to make sure they’re getting all the help they can,” the spokesperson advised. They also encouraged consumers to consider switching or fixing tariffs to help manage costs.
Furthermore, Ofgem has introduced stricter regulations to ensure energy companies are more proactive in identifying customers who may be struggling and providing necessary support, including affordable payment plans and emergency credit to mitigate the risk of self-disconnection.
The Department for Energy Security and Net Zero has also outlined its commitment to addressing these issues, stating, “Our mission for clean power is the only way to protect UK billpayers from future price shocks.” They plan to allocate £1.8 billion in funding to create warmer, more energy-efficient homes across England and expand the Warm Home Discount to nearly three million more households next winter.
As these banks and government agencies take steps to support vulnerable customers, the ongoing dialogue surrounding financial assistance and energy costs remains critical. With the April bill increases on the horizon, individuals are encouraged to engage with their banks and seek help before financial difficulties escalate. The proactive measures being implemented by banks like Santander, HSBC, and NatWest may provide essential relief to those navigating these challenging economic conditions.
