NatWest Pledges £8 Million to Help People Struggling With Debt
Added by Love Business East Midlands | 22 May 2026
UPDATED: 22 May 2026
NatWest Group has announced that it will provide £8 million in funding to debt advice organisations StepChange and PayPlan over the next two years. The funding is designed to help people across the UK who are struggling with debt, rising bills, and financial pressure.
The bank said the money will support free and independent debt advice services, allowing more people to access professional help during difficult financial situations. NatWest explained that many households are continuing to face financial challenges because of higher living costs, increasing household bills, and economic uncertainty. As a result, more people are turning to debt charities for support and guidance.
Support for Debt Advice Services
NatWest has worked with StepChange and PayPlan for more than 20 years. The bank says these long-term partnerships are important because they help customers receive trusted and independent advice when they are struggling financially.
The £8 million funding package will allow both organisations to continue offering free debt advice, budgeting help, and financial education to millions of people each year. NatWest said the support is not only for its own customers but also for people in communities across the country who need help managing their finances.
The bank also explained that many people dealing with debt often owe money to several companies at the same time including credit card providers and payday loan companies. This can make it difficult for them to understand their options or know where to seek help. By working closely with debt charities, NatWest hopes more people will be able to receive clear advice and practical support before their financial problems become worse.
Helping Customers Get Back on Track
NatWest says many of its employees are trained to support customers who are facing financial difficulties. Staff can speak to customers about their situation and, where appropriate, refer them to StepChange or PayPlan for free independent debt advice.
According to the bank, this approach helps people regain control of their finances and create realistic plans to deal with debt. The aim is not only to help people solve immediate money problems but also to improve their long-term financial wellbeing.
Haydn Williams, Head of Financial Health and Support at NatWest, said the bank is proud to continue supporting organisations that help people “get out and stay out” of financial difficulty. He added that the partnerships play an important role in promoting financial inclusion and stability throughout the UK.
Rising Demand for Financial Help
The announcement comes at a time when demand for debt advice services is increasing. Many households across the UK are still dealing with pressure from rising food prices, energy bills, rent costs, and higher borrowing expenses.
StepChange said millions of people are searching for help with debt and money worries every year. The charity revealed that it reached around 5.3 million people last year who were looking for support and guidance with their finances.
The charity believes the renewed funding from NatWest will help it continue reaching vulnerable people who may otherwise struggle to access professional advice. StepChange also said the funding will help provide people with the tools and confidence they need to manage debt more effectively in the future.
Debt charities have warned that many people delay seeking help because they feel embarrassed or overwhelmed by their financial situation. Organisations such as StepChange and PayPlan encourage people to ask for advice early before debts become unmanageable. Their services are free and confidential, helping people understand their options without pressure or judgement.
Amongst rising living costs including petrol costs, many British households are grappling with other financial strains including paying inheritance tax, VAT on school bills and rising council tax.
Improving Financial Education
As well as supporting debt advice charities, NatWest says it wants to improve financial education across the UK. The bank has been expanding its Financial Foundations programme, which offers free workshops and guidance on money management.
The programme teaches practical skills such as budgeting, saving money, understanding borrowing, and planning for the future. NatWest plans to expand the scheme during 2026 and hopes to support around 50,000 people through workplace and community sessions.
The bank says financial education is becoming increasingly important because many people lack confidence when dealing with money matters. Research commissioned by NatWest found that a large number of people would welcome financial education in the workplace, especially younger adults.
NatWest also plans to train hundreds of additional staff members to help deliver these workshops across the country. Sessions are offered free of charge and are designed to give people practical advice they can use in everyday life.
Additional options are available to those with debts, including asking for payment holidays, payment plans, debt consolidation and even getting money back on unaffordable bank overdrafts claims.
Digital Services and Future Support
PayPlan said some of the funding will also be used to improve digital services. This will allow more people to access debt advice online and receive support in ways that suit their individual needs.
Digital tools are becoming more important as many people now prefer to access help online or through virtual appointments rather than visiting offices in person. The organisation says improving these services will make debt advice easier and more accessible for vulnerable customers.
NatWest says the funding is part of its wider effort to improve financial wellbeing and resilience across the UK. The bank has previously announced plans to help millions of people improve their financial confidence through education programmes, support services, and partnerships with charities.
The latest investment highlights growing concern about the number of people across the UK facing financial pressure. By supporting organisations like StepChange and PayPlan, NatWest hopes more people will be able to access the advice, guidance, and support they need to manage debt and improve their financial future.
