Launch of guide to Basic Bank Account supporting financial inclusion and access to banking

Pictured at the launch were (L- R) John Healy, Head of Transactional Banking Products, KBC; Jennifer Hughes, Head of Customer Policy IBCB; Ross Moore, Financial Inclusion Lead, Bank of Ireland; Ciara Drain, Head of Customer Vulnerability, AIB; Marion Kelly, CEO IBCB; Jeff Harbourne, Head of Savings & Personal Banking, Permanent TSB.

 

The Irish Banking Culture Board (IBCB) today launched a Guide to the Basic Bank Account providing essential guidance for customers, and particularly customers in a vulnerable position, to apply for a bank account to support their inclusion and accessibility to banking in Ireland.

A basic bank account is a current account that provides essential daily banking

services, which all residents of the EU have the right to, no matter what their financial situation. The basic bank account financially empowers customers in a vulnerable position, supporting people’s financial freedom and providing dignity and access to a better life for many.

The guide has been translated into Arabic, French, Lithuanian, Polish, Pashto, Urdu, Portuguese, and Mandarin, removing language as a barrier to many who are seeking to apply for a basic bank account. All retail banks in Ireland, including IBCB member banks, provide a basic bank account with the same core features; receiving money, making payments, making lodgements and withdrawals, and debit card.

Speaking about the launch of the Guide, IBCB board member & Bank of Ireland Chief of Staff and Head of Corporate Affairs, Oliver Wall, said

“Not having a bank account is the opposite of financial wellbeing. It can block you from accessing education or employment. It makes even simple things – like booking a flight or paying a bill – very complicated. Not having a bank account blocks people from doing the things they want and need to do, in a really serious and negative way. That’s why it is so important that people know about the Basic Bank Account and how they can get one, with help from this user-friendly and practical guide.”

Learn more about the Guide here: www.irishbankingcultureboard.ie/publications/ibcb-basic-bank-account-guide-2/