Martin Lewis' charity warns of common PIN mistake that could cost you

Martin Lewis' charity has warned people not to share their bank PINs, even with close friends or family, as it could leave them vulnerable to fraud or even break their bank's rules. The warning comes after new research showed that a growing number of people with mental health problems are handing over their bank details to others in order to get help managing their money.

The Money and Mental Health Policy Institute, which was founded by Mr Lewis, said many people feel forced into risky workarounds because banks don't offer enough safe options. Helen Undy, the charity's chief executive, said: "For many people with mental health problems, getting the support of a loved one to manage money is the difference between keeping their head above water financially or falling into serious money problems.

"It is unacceptable that people have to put themselves at risk of harm to get that support because banks aren't providing the right tools to do this safely and easily."

According to the charity's analysis of data from the Financial Conduct Authority, around 42% of people with mental health conditions have wanted help from someone they trust to manage their daily finances.

But a fifth of those ended up sharing private details such as PINs, putting them at risk of fraud or account closure.

One person told the charity they were "coerced" into giving thousands of pounds to someone they thought they could trust.

The report looked at the websites of 18 major UK banks and found that only seven currently offer a carers' card, which lets a trusted person buy essentials on someone's behalf.

Just three offer account alerts for a third party, and only one allows limited shared control of an account, for example, to block certain payments.

While Lasting Power of Attorney remains an option, it's not designed for people with mental health struggles who may still have full legal capacity.

Mr Lewis, the chair of the charity, said: "People want to be responsible for their own money.

"Yet some struggling with mental health issues know there are times they can't be responsible, so the responsible thing for them to do at those times is to get a trusted family member or friend to help.

"Yet when they try, often the cogs of the financial system seize up. The tools needed just aren't widely available."

The charity is now calling for banks to work together to introduce a standard set of tools, including carers' cards, account alerts, and spending limits for third parties.

It said these changes could be included in the UK's upcoming Financial Inclusion Strategy to give people a safer way to get support without putting their money at risk.