Migrants and Their Money: Surviving Financial Exclusion in LondonThis original and topical book tells the untold stories of migrants' experiences of, and responses to, financial exclusion in London. Breaking important new ground, it offers an insight into migrants' lives which is often overlooked, yet is increasingly vital for their broader integration into advanced financialised societies. Adopting a holistic focus, Migrants and their Money investigates migrants' complex financial lives which extend far beyond remittance sending, exploring their banking, saving, credit and debt related practices. It highlights how migrants negotiate the complex financial landscape they encounter and the diverse formal and informal ways in which they manage their money in the financial capital of the world. Drawing upon a rich evidence base, this book will be of particular interest to academics, local authorities, policy makers and the financial services industry. |
Contents
1 Migrants money and exclusion | 1 |
public policy responses to financial exclusion in the UK | 27 |
3 Mapping migrants financial lives in London | 55 |
4 Strategising for banking inclusion | 89 |
alternative practices of reciprocity and trust | 117 |
the formalisation of migrant remittances | 141 |
from exclusion to inclusion and back? | 173 |
Methodological note | 185 |
| 189 | |
| 223 | |
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Common terms and phrases
accumulation advanced economies affordable credit and/or argued assets asylum seekers bank accounts banking inclusion banking services benefits borrowing Brazil Brazilian migrants British broader Bulgarian cash CDFIs cent Chapter Three Child Trust Fund Collard context Credit Unions Dahabshiil Datta debt direct debit diverse documents Dymski employment Ethnic exclusion financial inclusion financial practices financial products financial services Financial Services Authority financialisation FITF formal financial Fund Furthermore gender global South groups hagbads highlighted home countries identified immigration status important Importantly income initiatives institutions International irregular migrants Kempson labour market Leyshon and Thrift living loans London microfinance migrant communities migrant men money transfer MoneyGram MTOs neoliberal networks organisations participants particularly passport Paxton payments Polish population potentially programmes public policy range relation remittance sending ROSCAs savings and credit Savings Gateway sector shaped significant social capital Somali migrants strategies Toynbee Hall transaction transnational unbanked wages welfare women World Bank