New guide to help vulnerable people with banking is launched

COLIN GLEESON

A new guide to help vulnerable people with their banking affairs has been launched by the Irish Banking Culture Board (IBCB).

The publication, called Guide to the Basic Bank Account, provides guidance for vulnerable people on how to apply for a bank account and maintain their inclusion and accessibility to banking in Ireland.

A basic bank account is a current account that provides daily banking services, which all residents of the EU have the right to, no matter what their financial situation. The IBCB said it financially empowers people, supports financial freedom, and provides dignity.

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The guide has been translated into Arabic, French, Lithuanian, Polish, Pashto, Urdu, Portuguese, and Mandarin.

IBCB board member Angela Black said: “Banks have listened and are responding to the needs of those who have found opening a bank account challenging, due to their specific personal circumstances.

“Banks are demonstrating in a practical manner, their support for marginalised members of our community, those dealing with domestic or societal challenges that have impacted their lives, and those excluded by the language barrier.”

In addition, IBCB is partnering with Safe Ireland and TASC in providing funding, banking expertise and support with bespoke financial resilience training to victims of domestic abuse.