Chase has announced a new partnership with UK debt advice charity StepChange.

The bank said that the collaboration builds on its existing vulnerable customer support and aims to help customers in difficult financial situations by “providing them easy access to free, expert debt advice and recommended debt solutions”.

From Wednesday, Chase specialists will direct vulnerable customers to the charity’s online debt advice tool.

The free and confidential tool is designed to help customers put together a manageable budget to help ensure they can afford important essentials like food and their home.

Chase said that the tool will help customers understand what options are available to them to help with their debts and deal with their money worries.

Help is available via webchat or telephone, and the customer can choose the communication channel they prefer.

"Financial stress can take a toll on a person's mental wellbeing and be a constant source of worry," said Alexa Collinson, managing director for customer operations, Chase. "Finding free, impartial and trusted advice is often the first step to putting an action plan in place.

"As the cost of living continues to squeeze budgets across the country, it's never been more important for us to give customers all the support they need when managing with their finances."

The move comes after a recent survey from the Financial Conduct Authority (FCA) found that the number of people with low financial resilience had climbed to just under 13 million as the cost of living increased.

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