The Financial Conduct Authority (FCA) defines vulnerable customers as the following: 

‘A vulnerable consumer is someone who, due to their personal circumstances, is especially susceptible to detriment, particularly when a firm is not acting with appropriate levels of care.’

How can a customer be vulnerable? 

Vulnerability can come in a range of guises and can be temporary, sporadic or permanent in nature. It is a fluid state that needs a flexible, tailored response from firms. The following are examples of how customers can be vulnerable:

•  Mental health problems i.e. depression or anxiety
• Difficult financial circumstances i.e. recent unemployment
• Physical health problems i.e. disability or long term illnesses
• Communication skills i.e. an individual who has limited English

How can businesses assist vulnerable customers? 

• We aim to provide clear information during the sale so vulnerable customers can make an informed decision
• By encouraging larger deposits to help customers choose circumstances change
• By training staff and making it part of our culture to approach with sensitivity and respect.
• By seeing how we can adapt to individual customers so that their needs are met
• By ultimately referring customers to specialist advice if that’s the most appropriate decision
• Most of our funders will only consider business users

 Useful links

 FCA Vulnerable Persons Leaflet
Citizens Advice on Leasing Vehicles
NHS Advice On Wanting to Die
Google Translate For Help With Speaking English