Welcome to Fair Money

Fair Money was formed by Pat Watson, Robin Keyte, Peter Bennett and Aidan Ward following the Ethics Forums run by the Financial Services Authority in 2003. As members of a working group left high and dry by the receding tide of ethical concern about the real impact of the industry, we set up Fair Money to make a difference.

Lack of understanding of how particular financial products work, what their real cost or their long term impact will be, can put any customer of the financial services in a vulnerable position. This applies particularly to people on low incomes or other reduced financial circumstances, and who have difficult and complex decisions to take and unsuitable products as the only apparent option. With the FSA and other interested parties, Fair Money is developing the concept of Generic Financial Capability into a service that will change the way financial products are delivered.

A second key concern is the excess costs and penalty payments faced by people on low incomes when paying for the same services as those who are more affluent. We are developing approaches to enable people to take more active control of their financial situation and avoid wasting what is already, for them, a scarce resource.

We welcome contact from individuals and organizations working in the field of financial inclusion or services to the excluded, or have an interest in the area. We are happy to collaborate wherever this can be made to work.