Jake Miller
The Netflix film Bank of Dave is based on the true story of Dave Fishwick, a self-made millionaire who set up an independent lending company, Burnley Savings and Loans, to help small businesses and people in his Lancashire town secure loans from bigger banks. While the basic story is true, the film takes some liberties with the truth, such as inventing nefarious schemes by the banking elite to undermine Dave's legitimacy. The film also includes fictional characters, like Hugh Bonneville's Sir Charles Denbigh, and exaggerates certain events, such as a fundraising gig by the band Def Leppard. However, it accurately portrays Dave's struggles to set up a community bank and his battle with London's elite financial institutions to obtain a banking license.
| Characteristics | Values |
|---|---|
| Based on a true story | Yes and no |
| True story of Dave Fishwick | Yes |
| True story of Rory Kinnear | No |
| True story of Hugh Bonneville | No |
| True story of Joel Fry | No |
| True story of Sean Dyche | Yes |
| True story of David Henshaw | Yes |
| True story of Burnley Savings and Loans | Yes |
| True story of Bank on Dave | Yes |
| True story of Fishwick's opposition from big banks | Yes |
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What You'll Learn
- The film is based on the real-life experiences of Dave Fishwick
- Fishwick set up Burnley Savings and Loans (BSAL) to help small businesses
- Fishwick received pushback from finance experts and bankers
- The film includes invented nefarious schemes to undermine Dave's legitimacy
- The character Hugh, played by Joel Fry, is not based on a real person
The film is based on the real-life experiences of Dave Fishwick
The 2023 British biographical comedy-drama film "Bank of Dave" is based on the real-life experiences of Dave Fishwick, a self-made millionaire from Burnley, Lancashire. Fishwick set up an independent lending company, Burnley Savings and Loans (BSAL), in 2011 to help small businesses and people in his community who were struggling to secure loans from bigger banks. The company used the advertising slogan ""Bank on Dave," but it is not an official UK-registered bank. Customers can only deposit limited amounts, and the company is still in the process of obtaining a banking license.
The film depicts Fishwick's struggle to set up a community bank in the wake of the 2008 financial crisis. It showcases his battle against London's elite financial institutions and his quest to obtain the first banking license in over 150 years. While the basic story is inspired by real events, the movie takes some liberties with the truth. For example, the character of Sir Charles Denbigh, played by Hugh Bonneville, and his scheme to paint Dave as a criminal, are inventions for the film.
The film includes cameos by the band Def Leppard, the then Burnley FC manager Sean Dyche, and the real-life Bank of Dave chief financial officer, David Henshaw. A sequel, "Bank of Dave 2: The Loan Ranger," was released in 2025 and focuses on the payday loan industry. It is also based on a true story from Fishwick's life, following his efforts to confront predatory payday lenders.
Dave Fishwick was heavily involved in the creation of the films. He has stated that the movies shine a light on the issues within the industry and his campaign against payday loan companies. Fishwick's book provides further insight into his experiences, detailing his determination to establish a community bank despite the challenges posed by the banking elite.
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Fishwick set up Burnley Savings and Loans (BSAL) to help small businesses
The Netflix film Bank of Dave is based on the real-life experiences of Dave Fishwick, a self-made millionaire from Burnley. Fishwick set up Burnley Savings and Loans (BSAL) in 2011 to help small businesses and individuals in his hometown of Burnley, Lancashire, who were struggling to secure loans from bigger banks.
Fishwick's company is not an official bank, but an independent lending company. Customers can only deposit limited amounts, and BSAL operates on a peer-to-peer crowdfunding model where savings are lent to borrowers, who then become responsible for repaying the loans.
The film depicts Fishwick's struggles to set up a community bank and his battle against London's elite financial institutions. It also shows the opposition he faced from big banks, although the nefarious schemes to undermine his legitimacy depicted in the film are fictional.
In reality, Fishwick received pushback from finance experts who warned him that he could face legal consequences if he referred to himself as a bank without a banking licence. Despite these challenges, Fishwick was determined to show that he could establish a community bank.
Burnley Savings and Loans first opened its doors in September 2011 with a "Bank on Dave!" slogan. Fishwick assembled a small team to offer a more personal service to its customers, issuing loans on a case-by-case basis. The company returned its first profits within six months of operating and has since lent millions to its customers, primarily in Lancashire and the North of England.
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Fishwick received pushback from finance experts and bankers
In 2009, Burnley-based businessman Dave Fishwick founded Burnley Savings and Loans, later renamed Bank of Dave, with the aim of offering simple, fair financial products to the local community. The story of his venture was documented in the Channel 4 television series "Bank of Dave," which brought him and his unique enterprise into the spotlight. However, his endeavor received mixed reactions, particularly from finance experts and bankers who offered criticism and pushback.
Fishwick's unconventional approach to banking attracted attention, and his criticism of traditional banks' practices, particularly their treatment of small businesses and ordinary customers, did not go unnoticed by the financial industry. One of the main points of contention was his lending criteria, which prioritized common sense and personal knowledge over complex financial models and strict, rigid criteria. Finance experts argued that his methods were unsustainable and could lead to high default rates and financial losses. They claimed that his approach, while well-intentioned, might result in irresponsible lending and put customers' money at risk.
Bankers also questioned Fishwick's understanding of the complex regulatory environment within which banks operate. They argued that his venture might struggle to comply with the myriad of regulations governing the industry, including capital adequacy requirements and anti-money laundering rules. There were concerns that his lack of formal banking experience could lead to unintentional rule-breaking and put his customers' funds in jeopardy. Additionally, critics highlighted the potential limitations of a small, localized banking model in terms of scalability and long-term sustainability.
The pushback also extended to Fishwick's public criticism of the banking industry, particularly his claims that high street banks were failing small businesses by refusing them loans. Bankers defended their practices, citing responsible lending policies and arguing that they were obliged to assess creditworthiness rigorously. They emphasized the differences in resources and infrastructure between traditional banks and Fishwick's venture, suggesting that his criticisms were based on a flawed comparison. Fishwick's response to this pushback was to emphasize the success stories of his borrowers and the positive impact his bank had on the local community.
Despite the pushback, Fishwick remained resolute in his mission, believing that his common-sense approach to banking filled a gap left by traditional banks. He maintained that his methods were robust and that his customers' interests were always at the heart of his decision-making. He also advocated for greater transparency and simplicity in financial products, arguing that many banking practices were unnecessarily complex and detrimental to ordinary customers. Fishwick's resilience and determination ultimately contributed to his enduring reputation as a maverick within the financial industry.
The story of the "Bank of Dave" highlights the tensions between traditional banking practices and innovative, localized approaches to finance. While Fishwick received pushback from finance experts and bankers, his venture also garnered support from those who believed in his mission to offer an alternative, more personal style of banking. The debate continues around the balance between regulatory compliance, responsible lending, and meeting the needs of local communities and small businesses.
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The film includes invented nefarious schemes to undermine Dave's legitimacy
The Netflix film Bank of Dave is inspired by the true story of Dave Fishwick, a self-made millionaire from Burnley, Lancashire. Fishwick set up an independent lending company, Burnley Savings and Loans, in 2011 to help small businesses and individuals in his hometown secure loans from bigger banks. The company is not an official bank and is still in the process of obtaining a banking license.
While the film is based on real-life experiences, it takes some liberties with the truth. One such example is the inclusion of invented nefarious schemes to undermine Dave's legitimacy. In the movie, Hugh Bonneville plays Sir Charles Denbigh, a character desperate to paint Dave as a criminal. This storyline is not based on actual events, even though Dave faced opposition from large banks when establishing his company.
Another fictional element is the character of Hugh, a London solicitor who represents Dave and falls in love with his niece, Alexandra. The character was created to provide an outsider's perspective on Dave's journey. Additionally, a fundraising gig by the band Def Leppard was also fabricated for the film, despite the band making a cameo.
The film also takes artistic license with Dave's application to become an officially regulated bank. In reality, Dave has not been successful in his application, and Burnley Savings and Loans is still not technically a bank, with customers only able to deposit limited amounts. However, it is true that the company has been a significant success since its inception.
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![Dave (BD) [Blu-ray]](https://m.media-amazon.com/images/I/91GujdWpZNL._AC_UY218_.jpg)
The character Hugh, played by Joel Fry, is not based on a real person
However, this character is entirely fictional and was created to provide an outsider's perspective on Dave's journey. The basic story of the film, "Bank of Dave," is inspired by true events from Dave Fishwick's life. Fishwick is a self-made millionaire who set up an independent lending company, Burnley Savings and Loans, in response to the broken banking system during the 2008 financial crisis. He wanted to help small businesses and people in his Lancashire town secure loans, which they were struggling to obtain from bigger banks.
While the film takes some liberties with the truth, it is largely based on Fishwick's real-life experiences. It includes cameos by the band Def Leppard, the then Burnley FC manager Sean Dyche, and the real-life Bank of Dave chief financial officer, David Henshaw. The film also features a disclaimer at the start, stating that it is "true(ish)."
The film "Bank of Dave" and its sequel, "Bank of Dave 2: The Loan Ranger," have been well-received by audiences and provide an entertaining and informative take on Dave Fishwick's story and his battle against the payday loan industry.
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Frequently asked questions
Yes and no. The film is based on the real-life experiences of Dave Fishwick, a self-made millionaire from Burnley, Lancashire. Fishwick set up an independent lending company, Burnley Savings and Loans, in 2011 to help small businesses and people in his town struggling to secure loans from bigger banks. However, the company is still in the process of getting a banking licence as it has not raised the required capital.
Yes, Dave Fishwick is a real person. He is a self-made millionaire who set up David Fishwick Minibus Sales, which became the biggest minibus supplier in Britain.
No, Burnley Savings and Loans is not a real bank. It is an independent lending company. Customers can deposit limited amounts and the company has helped thousands of people in financial difficulty.
Yes, a sequel called Bank of Dave 2: The Loan Ranger was released on 10 January 2025. The sequel is also based on a true story from the life of Dave Fishwick and sees him taking on predatory payday loan companies.
