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Ethical Banking

We hear a lot about how the banking sector has failed us and that we are powerless to do anything about it. But there is something you can do. By moving your money, you can show that individuals and communities – specifically the student community - can take meaningful action against the banking sector and make positive social change. NUS have teamed up with Move Your Money to publish guidance specifically for students about how they can move their money to another bank.

 

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Move Your Money’s campaign has already seen thousands of people switch away from those banks that have damaged the UK economy and towards socially and ethically responsible banks.

The guide produced by Move Your Money and NUS dispels myths about moving student overdrafts and sets out a simple five step guide which show how simple it is to switch banks:

  1. Identify a new provider. Students can use www.moveyourmoney.org.uk for advice on ethical banking.
  2. Opening a new account
  3. Fill out a switching form with the new provider
  4. Confirm the switch
  5. Tell the Students’ Loan Company to pay your loan to the new account.

The guidance also encourages students to get involved with the campaign themselves once they’ve moved their own money.

Download the guidance here.