Ffrees says “yes” to fair lending and accessible currents accounts in Sheffield and supports the opening of Sheffield Money

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12 August 2015

Ffrees announces that it is working with the Sheffield Money to deliver its socially inclusive current account to the people of Sheffield.

Sheffield Money provides loans, savings, household appliances for sale or finance, money advice and everyday current accounts -operated by Ffrees. It links people to the best financial products from responsible lenders, including credit unions. It was developed by city partners, led by the Sheffield Executive Board with support from Sheffield City Council.

Ffrees is a supporting partner of Sheffield Money because it believes that people need access to fair banking services – although not necessarily banks – that meet their needs. The accounts being offered will help people struggling to get on the banking ladder to have an account and keep money management at their finger-tips. As Ffrees accounts don’t offer overdrafts or credit facilities they have no unexpected charges.

Ffrees’ model is based around providing customers with good, useful products and friendly and easy to access online service. For a small weekly cost, Ffrees customers have an account that offers money management tools and ‘jam-jar’ facilities to help them ring-fence funds to pay their bills, plan their weekly budget, save small amounts each week and gives discounts when the Ffrees card is used in a range of high street retailers.

Alex Letts, Ffrees’ founder and Chief executive said today:

“With so many suffering from poor access to fair financial services, often paying extremely high interest rates, Sheffield Money is filling a really enormous need in the finance sector. Ffrees believes in helping people to help them get to a better place. So, yes, we fully support this initiative”

At Ffrees, we have designed an account which matches the way that people lead their everyday lives – not the way banks think people should lead their lives. It helps people save little and manage their budget more effectively, and also secures them rebates at high street stores. It won’t levy any hidden charges – and it won’t encourage people to slip into debt. One day, all banking will be like this. Sheffield Money helps bring that day closer.”

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