Lloyds TSB offers bank account for those in Poles’ position
High Street bank Lloyds TSB is launching a UK current account aimed at the tens of thousands of Poles who have come to this country in the past three years.
The bank joins other financial institutions in recognising one of the greatest demographic changes in modern UK history and targeting the new Polish community with products and services tailored to their needs.
Lloyd’s Silver account, a UK current account available to all immigrants, offers a money transfer card so that a proportion of the wages earned in the UK can be sent home. Research conducted by Lloyds TSB found that this was a real priority for Polish workers.
Most send back between £100 and £500 every one or two months to support their families and boost their savings.
A spokesperson said: “Over two-fifths of respondents recently transferred money back to Poland and nearly three-quarters plan to do so again in the near future.”
The huge influx of Poles into the country has been responsible for many changes in the social fabric of the UK, and businesses like banks have been quick to spot the opportunities presented by the newcomers.
HSBC launched its Passport account last year, a tailored UK current account offering cheap money transfers, while Barclays has been recruiting Polish speakers in some of its local branches to cater for a big demand for this service.