Scotland gets homeless bank

The UK’s first bank branch exclusively for homeless people has been set up by Bank of Scotland in partnership with The Big Issue in Scotland magazine.

The Grand Central Savings bank allows homeless people to deposit and withdraw as little as $1 (£1.40) at a time. It is based at The Big Issue’s offices in Glasgow and is expected to have 200 accounts opened by 2002.

Bank of Scotland recently joined the UK’s universal bank scheme, which is intended to improve access to banking facilities for poor people.