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Financial Awareness and Inclusion

Background and Context

What we heard

Financial Inclusion and financial awareness for customers who need enhanced support is an area of focus for the IBCB. Financial vulnerability can occur at any time, it can be transient or permanent and many bank customers can find themselves in a vulnerable position for a range of reasons:

  • A change in personal circumstances; bereavement, divorce or separation, the breakdown of family relationships or supports
  • Issues with physical and mental health and wellbeing, including cognitive impairments, the diagnosis or onset of a serious or life-altering illness
  • A disability, which requires additional or alternative supports
  • Personal financial difficulties, including arrears and mounting debt
  • Marginalised groups, who may find it difficult to access financial services.

In our external engagement, and through our research, we have heard from customers, stakeholders, and members of the public that banks should demonstrate more support for customers in need to enhanced supports. Our priorities have been focussed on initiatives aimed at raising financial awareness and financial inclusion for such customers and undertaking more detailed research projects.

We continue to liaise closely with Safeguarding Ireland, through our role on the National Safeguarding Advisory Committee and State Payments Group. We have also engaged with MABS, the Society of St. Vincent De Paul, the Open Doors Initiative, and the European Consumer Debt Network.

IBCB Support for survivors of Gender-Based Violence

You can watch this video of the supports available to survivors of Gender-Based Violence within the IBCB member banks, AIB, Bank of Ireland and PTSB.

In 2022, the IBCB, partnered with TASC and Safe Ireland, with an initiative to provide financial wellbeing training to key workers, who work directly with survivors of domestic abuse. This initiative has the potential to benefit the nearly 15,000 women and children across Ireland, who use specialised domestic violence services every year. To date more than 100 key workers have been trained on financial wellbeing to support victims and survivors of domestic abuse. You can learn more about this initiative on www.frtdv.ie

In October 2024 the IBCB hosted a roundtable discussion to support the financial wellbeing of survivors of domestic abuse. The session included representatives from the IBCB, AIB, Bank of Ireland, PTSB, Safe Ireland services and other DSGBV organisations, TASC, Central Credit Register, An Post, and the Irish League of Credit Unions (ILCU).

The event was hosted in Athlone to ensure regional representation from across the Safe Ireland network. The IBCB hosted this roundtable discussion to facilitate a two-way conversation about the banking needs of victims and survivors of domestic and financial abuse and how the sector can further support this cohort.

The objective of the session was to hear from and listen to representatives from Safe Ireland organisations and to look at what practical activities the IBCB, its member banks, and other sector stakeholders, can take to further enhance financial wellbeing supports to victims and survivors of domestic abuse.

The event included an overview of the Providing the Tools for Financial Wellbeing initiative, presentations from our member banks on what supports they currently have in place for victims and survivors of gender-based violence, presentations from An Post and the Irish League of Credit Unions (ILCU) in relation to their services, a presentation from Susan Robertson, Central Credit register on the Central Credit Register report and explanatory statement, and a table discussion.

What we heard

  • Victims don’t always have standard documentation or proof of address for account opening / change of address for statements etc. Our member banks can work with customers on a case-by-case basis to help identify suitable documentation.
  • Not everyone uses online banking/is as comfortable with technology. However sometimes a survivor might know a staff member in a local branch, and as such be hesitant to explain their situation. Choice in how survivors can communicate with their bank is important.
  • Raising awareness of domestic and financial abuse is key. The 16 Days of Activism against Gender-Based Violence takes place each year from 25th November to 10th December.  The IBCB and our member banks can use this period to raise awareness for gender-based violence and financial abuse and offer support to Safe Ireland member organisations.
  • Highlighting what supports member banks have for victims and survivors gives them confidence to contact their bank.
  • Trauma-informed training is important for branch/customer service staff to equip them with the skills to recognise and respond to financial abuse and to have informed conversations with survivors.
  • The importance of building relationships locally between branches and DV Centres to support victims and survivors was noted.
  • Victims and survivors are often not aware that debt has been accrued or that their credit rating is affected and, when they do find out, their focus might just be on repaying the debt. The Central Credit Register (CCR) report is a useful, free tool to find out what debt a person has in their name.
  • The importance of cash for victims and survivors was also noted.
  • Narrative/comments on a payment transfer is often the only method the abuser has to communicate with a victim, when paying maintenance etc.  An option to block an individual from adding comments/abusive text to a payment transfer would be helpful.
  • A perpetrator might use a joint account to control the finances, bank staff to be mindful of how joint accounts might be used as a tool for financial abuse.
  • Joint mortgages can also pose a problem in cases of separation, particularly in terms of the credit history afterwards. Also, joint mortgages were raised where only one name is on the deed. 
  • Small, flexible loans being made available to survivors is key to avoid predatory lending.
  • The DV co-ordinator role across An Garda Siochana is a new initiative and a valuable role for Safe Ireland organisations in a number of ways. This could be reviewed to see how this initiative works and what learnings it could provide to member banks.
  • A guide for survivors to support their financial wellbeing was also discussed as useful a support to be developed. This guide could be a list of considerations as each case will be different.

What we did

On the back of the feedback and what we heard at the roundtable event, the IBCB created a short video (above) to highlight gender-based violence and financial abuse and to highlight the supports available to survivors of gender-based violence within the IBCB member banks, AIB, Bank of Ireland and PTSB.

The IBCB posted a number of social media posts during the 16 Days of Activism against Gender-Based Violence, including resharing posts from Safe Ireland, sharing information about the ‘Providing the tools for financial wellbeing’ initiative and sharing the above video to raise awareness of gender-based violence.

Our member banks have supports available, for anyone who needs assistance with their banking.

 

The IBCB will continue to work with our member banks to consider how we can best support victims and survivors of gender-based violence.

 

IBCB Financial Inclusion event with people with intellectual disabilities (ID) – summary

In March 2024 the Irish Banking Culture Board (IBCB) hosted a Financial Inclusion event attended by its member banks (AIB, Bank of Ireland, PTSB), Inclusion Ireland, people from across Ireland with intellectual disabilities (ID) and other key stakeholders. The event is part of an IBCB initiative to support people with intellectual disabilities towards financial independence.

In 2023, the IBCB, in collaboration with Inclusion Ireland held customer listening sessions across Ireland to meet people with intellectual disabilities and to learn from their interactions with the IBCB’s member banks. The insights gained provided valuable, firsthand information on how their banking needs could be met and what actions the banks could take to better support financial inclusion.

Financial Inclusion is a cornerstone of the work programme of the IBCB and through our éist surveys, and the customer listening sessions, we are working to highlight its importance for people with intellectual disabilities and people who need additional support with their banking. Our member banks have a range of supports available for customers who require enhanced assistance in their banking lives.

The event also launched the IBCB ‘Banking How To’ guides, which were developed based on feedback from the customer listening sessions. The guides are in an easy-to-read format to help people with some common banking transactions. The IBCB, along with our member banks created four guides for lodging funds into a bank account, making a bank transfer, paying a bill, or rent, and setting up a standing order. The guides are designed to support and empower people with financial independence and to facilitate positive engagement with banking services. The guides can be found on our website here.

The Press release for the event can be found here.

The purpose of the event was to:

  • Follow up with the individuals who participated in the original Customer Listening sessions with Inclusion Ireland.
  • Highlight what supports our member banks have for customers who may need additional support with their banking.
  • Enable individuals, stakeholders and stakeholder organisations to pose questions to our member banks.
  • Facilitate a Round Table discussions to hear directly from people with ID and stakeholder organisations what else the IBCB and our member banks can do to support this cohort with their banking needs to better support financial inclusion.

The event was attended by a number of stakeholder organisations:

  • IBCB and our Member Banks (AIB, Bank of Ireland, PTSB)
  • Inclusion Ireland
  • Self-Advocates (10)
  • Safeguarding Ireland
  • Sage Advocacy
  • Decision Support Service
  • HSE National Office for Human Rights and Equality Policy
  • An Post
  • Irish League of Credit Unions (ILCU) 

There are also a number of stakeholder organisations who we engaged with prior to the event: 

  • Dept of Finance – National Financial Literacy Strategy
  • Central Bank of Ireland
  • Minister of State at the Department of Children, Equality, Disability, Integration and Youth with special responsibility for Disability
  • John McGuinness’s office 

What we heard at the event

  • Bank’s need to understand their customers’ needs – as individuals, everyone is different. Listening to feedback across a multitude of channels is important. Bank staff to ask questions using inclusive language – being clear, concise and using plain English (account opening etc), to help support the person to understanding the question.
  • Financial Awareness – Banks need to make customers aware of the services available – it is difficult to get some messages out and so the role of advocacy groups in bringing the supports available to customers is an important channel. Many are unaware of what supports member banks already have. Forms should be in easy-to-read (etr).
  • Engagement and feedback with this cohort – ideally in person, through community groups/advocacy groups. Surveys in paper, in person or maybe via phone.
  • Branches could use colour coded signage or icons to support people knowing where to go for various services. It is important to have a trust friendly face available to support, but not to be dependent on the one person. Champions for people who require additional support with their banking in branches or clusters of branches.
  • Fraud / scams – A campaign to highlight awareness of what supports banks have including the dedicated fraud phone lines for customers to call if they are concerned about frauds/scams. ‘Acquiescence’ – some people with ID have been socialised to automatically agree or go along with what someone is telling them, this behaviour needs to be ‘unlearned’. The emphasis on ‘fraud /scams’ should also focus on ‘financial abuse’. It is not just the ‘online stranger’ who can take your money or assets.
  • Digital Banking – simplify the screens, they can be too busy. Provide a simple digital interface for those with disabilities.
  • Internal Training of bank staff is important on how to support people. Continual learning and case studies could be used and shared internally. Training should be monitored and measured to ensure success
What we will do

The insights provided at this event are valuable insights for the IBCB and our member banks. We will share these insights with the IBCB Board, our member banks will share them internally, and we will consider what we can learn from them and what actions we can take to support better financial inclusion.

One of the suggestions we heard at the sessions was to have some Banking How To guides in easy to ready (etr) format for some common banking transactions. The IBCB, along with our member banks worked with ACE Communication to create these 4 guides. The 4 guides are for making a lodgement (putting money into my account), a bank transfer (sending money from one account to another), paying a bill or rent and setting up a standing order.
Standing-Order
Standing Order
Paying-a-bill
Paying a Bill
Lodgement
Lodgement
Bank-Transfer
Bank Transfer
Our member banks have supports available, for anyone who needs assistance with their banking.
We also heard that branches are a vitally important resource. And the importance of a trusted friendly face is important to help and provide support. Each of our member banks recognise the JAM card, and are committed to ensuring this is evident within their branches.

Customer Listening with Older People

In April 2024 the Irish Banking Culture Board (IBCB) hosted a Customer Listening session with Older People (Over 65s). Previously, IBCB held a listening session with this cohort in 2019 and they are also surveyed as a cohort within the annual éist Public Trust in Banking surveys.

Financial Awareness and Inclusion are strategic objectives of the IBCB Work Programme as evidenced through periodic éist surveys. The customer listening sessions gives us insights into the challenges for Older People around Banking in 2024. We are able to promote these findings with IBCB Board, stakeholders and the Member Banks. The Over 65’s account for 800k of 5m ROI population (16% CSO 2023) which is set to rise by 2040 to 25% and 2050 (33%). We are aware from our surveys that c.80% of consumers regularly use digital banking which suggests c.20% are dependent on “over the counter” &/or traditional service. We accept the non-digitalised % may actually be higher in this cohort given a general acceptance that this cohort potentially has a disproportionately higher number lacking in IT competence and/or digital experience relative to other cohorts. The Member Banks increasingly have a range of supports available for customers who require enhanced assistance for their banking.

The session included representatives from our Member Banks (AIB, Bank of Ireland, PTSB), Age Action and other key stakeholders. The insights gained provided information on how their banking needs could be met and what actions the banks could take to better support financial inclusion.

The purpose of the event was to:

  • Highlight what supports our Member Banks have for this cohort of customers.
  • Enable individuals, stakeholders and advocacy organisations to pose questions to the Member Banks.
  • Facilitate a Round Table discussion to hear directly from Older People and stakeholder organisations what else the IBCB and our member banks can do on various topics including digitalisation, banking in 2024 and the branch service with an emphasis on how the Member Banks could support more financial inclusion.

The event was attended by a number of stakeholder organisations:

  • IBCB and our Member Banks (AIB, Bank of Ireland, PTSB)
  • Age Action
  • Self-Advocates (16)
  • SAGE
  • Age Friendly Ireland
  • Fingal Older People’s Council

There are also stakeholder organisations who we engaged with prior to the event:

  • Dept of Finance – National Financial Literacy Strategy
  • Central Bank of Ireland
  • Department of Children, Equality, Disability, Integration and Youth
What we heard at the session
Bank Processes:
  • Photographic ID was raised, as often older people might not have a valid/up to date passport or driver’s license. The Public Services Card is no longer be accepted by the banks, (a legislative change would be required to change this). The banks confirmed that each situation was dealt with on a case-by-case basis.
  • Customers switching and moving – in one instance a customer said it took them 18 months to secure a new credit card, and the new card can’t be repaid by AnPost and can’t repay the exact amount (to the cent).
  • Digital banking and those who are not engaged in it – for some it is because they are unable to access and for others it is a choice; including out of principle.
  • Bank Forms should include option to complete landlines, not just mobiles.
  • Scams and Fraud Prevention – more education would be appreciated. A suggestion proposed to have an option to set up a text message to approve / verify purchases over an agreed amount.
  • Loyalty discounts for ‘golden customers’. Loyalty – the banks don’t appear to recognise loyal customers the way other businesses do (supermarkets) and why is it that new customers get the better discounts. Some customers had 50 years + with institutions.

The Branch Experience:

  • Speaking to someone face to face is important.
  • Feedback suggested Credit Unions have front of house staff which encourages face to face communication with less turnover of staff.
  • Branches don’t feel as welcoming as they once did. Soft skills are sometimes missing from frontline staff.
  • Branches often don’t have cash or if they do, only issue larger notes including the ATMs.
  • Machines in branches – Certain supermarkets are now moving away from the automatic service, should the bank consider this. A comment included “I want a relationship with my bank, not a machine”.
  • Consider the need for more seating in branches especially for those with mobility issues (IE higher backed) to support waiting times for queuing.
  • Consider specific times for older customers which happened during the pandemic.

Deposits:

  • Is it possible the Government guarantee scheme for deposits could be increased from existing €100k noting the impact of inflation since introduction and the marketplace has less retail banks to place deposits with.  

Communications:

  • Be upfront about the agenda to build trust.
  • Phone numbers should always be provided at the end of letters/statements, particularly from Complaints dept. The IBCB notes this was part of the Communication Commitments, Appx `1, copied below, which the original five Member Banks signed up to.
  • Attendees asked for contact information for the bank’s additional support / enhanced helpdesks and Vulnerable Client units to be shared. There was mention of putting the contact number/helpline on the Postal Bill.
  • Suggestion of a Senior’s helpline within the banks (EIR do this).
  • Consider other communication channels including local advocacy groups, local newsletters, church, newspapers, to communicate key messages for Older People.

Other:

  • It would be helpful if ATM screens were consistent across all the banks / providers. Some are very difficult to read. ATMs rarely have smaller notes in them. Larger notes are not always suitable.
  • Use of An Post (for bank transactions), there is sometimes challenges on privacy, undertaking your banking often in compact queuing areas.
  • Question raised on whether retailers can refuse to accept cash IE card only. Legislation provides that provided the business displays correct signage, a business does not have to exclusively accept cash.
  • Authentication – used to be choice of a fob as well as using the phone~ just the phone now. Concern flagged if your phone is broken? There should still be an option of a fob.
  • CBI rules deemed possibly “ageist” for not allowing investment advice / products for those aged over 85. No sense of ageist bias on products and investments from the Banks themselves.
What we will do

The feedback gained at this session are valuable insights directly from the cohort.

Our member banks are committed to supporting change and initiatives which provide for enhanced financial inclusion for this cohort.

AIB
  • Additional Support Helpline available for customers in vulnerable circumstances and their carers. AIB have developed business cards for their branches outlining the number and opening hours, to provide tangible supports to their customers. They have also reached out to National Advocacy Groups to promote this line and have advertised same on Social Media pages. The helpline is 0818 227 056 and it is open Monday to Friday 9am to 5pm (except Bank Holidays).
  • AIB have recently refreshed their website layout making information more accessible and easier to read and navigate through. Support for Older Customers (aib.ie)
  • AIB website, confirms they have advised their older customers that Tuesday to Thursday from 10.30 to 12pm are the quieter times in their branches so it may suit older customers to plan their visits around these times.
  • Staff training has been delivered to staff in all areas of the bank, in particular front line staff, on how to support customers in vulnerable circumstances. As part of AIB’s training plans, they have promoted supports to staff around soft skills (e.g. empathy / listening / identifying vulnerability & capacity issues) to better help conversations with customers.
  • AIB also advertise that customers can conduct many of their day to day banking transactions using their AIB debit card through their local post office as an alternative to travelling to their nearest AIB Branch.
  • AIB branches, region wide continue to hold ‘Easy Banking Events’ to demonstrate mobile banking and explain banking in simpler terms. They have also recently held 4 Safeguarding events which were held with the support of local solicitors / stakeholders. A wider roll out region wide is expected.  
  • AIB are Dementia Inclusive as they have front line staff trained on how to support customers living with dementia. They also have their staff wear badges to advise customers they can support them and have ads playing on their in-branch screens.
Bank of Ireland
  • Bank of Ireland’s Senior Advisory Model is up and running three years and they have engaged with over eight thousand customers since launch. Their Senior Advisor Model is a dedicated team of highly skilled professional Senior Advice Specialists that will engage with their senior customers to discuss their financial needs, options and resources. The advisor can meet the customer at a time and place that suits the customer. It can also be done in person, digitally or by phone. NPS scores sit at +97% confirming that these customers feel valued, informed and appreciative of the service.
  • BOI accessibility : customers can contact Bank of Ireland by email Seniors@boi.com, phone their contact centre on 1800 946 146 or visit a local branch.
  • Bank of Ireland are committed to safeguarding the financial wellbeing of their customers and run comprehensive consumer fraud awareness programmes in Ireland – Fraud Awareness events.
  • The free Fraud Awareness Events take place nationwide and consist of:
    • The typical every day fraud types they see and a true crime story with each fraud type.
    • The Red flags against those Frauds.
    • What they are doing to support their customers.
    • Resources for their customers, i.e. web site / phone numbers etc.
  • They have held 43 Customer Awareness Events reaching over 1,000 customers. Further dates and locations will be confirmed to expand region wide. Information at Security Zone – Bank of Ireland Group Website.
  • Bank of Ireland have launched the ‘Extra Help Hub on the Group website, which is an extensive new resource providing a range of additional supports for customers, families and carers. It provides practical information around areas including financial abuse, dementia, queries around gender supports through to incapacity with advice on Power of Attorney and the Assisted Decision-Making Act (ADMA). Insights gathered from over 30,000 contacts from customers, carers and advocacy groups to the Vulnerable Customer Unit have been used to design the hub and inform the services and resources that will support customers needs.
PTSB
  • PTSB’s main focus is extensively on staff training. Areas of focus included:
    • Soft skills when dealing with older customers both over the phone and in Branch.
    • Understanding and assessing capacity.
    • Identifying patterns of financial abuse / coercion to better support customers who might be ongoing victims.
    • Understanding the ADMA, types of agreements, how they work and the process they have in place with the Decision Support Service to verify agreements received.
    • Sign language Interpreting Service (SLIS), new process in place to support customers with hearing impairments, which allows customers to use an interpreter of their choosing.
    • Enhanced Customer Care Line (ECCL); subject matter expertise for those customers that need extra support and assistance.
    • Preparing for European Accessibility Directive 2025
  • The PTSB Enhanced Customer Care Line is 0818 818 721 or +353 1 655 0581 (Monday – Friday 9am to 5pm).
  • PTSB have established relationships with Advocacy Groups including Sage to support technical queries including central Government supports / grants and benefits.  This is communicated through the PTSB Vulnerable Customer Team mailbox.
  • PTSB continue to work with legislation which impacts customers such as ADMA and build bespoke supports to support customers. An example would include a process to pay short term nursing home fees while an ADMA agreement is being formalised.
  • Providing proactive support to customers who are unable to attend the branch and using field-based staff to visit the customer where applicable.
  • Support for customers who have lost capacity and require statements to support Nursing Homes Support Scheme (NHSS).

IBCB Customer Listening with Inclusion Ireland 2023 – summary

Our member banks have supports available, see below.

The IBCB conducts customer listening sessions with the purpose of hearing directly from bank customers whose voices are not always heard in research or focus groups. In 2023 the IBCB held customer listening sessions with people with Intellectual Disabilities (ID). In collaboration with Inclusion Ireland, who advocate for people with ID, we held 4 listening sessions in Tullamore, Dublin, Cork, and Sligo to ensure a regional representation. The sessions were facilitated by Inclusion Ireland staff, with the IBCB in attendance and we heard from 45 people with ID about their experiences with their bank and their banking needs. The insights gained provided valuable, firsthand information on how their banking needs could be met and what actions the banks could take to better support financial inclusion. We created a word cloud of some of the key words we heard across the sessions.
What we heard
  • Having a bank account is key for independence for customers with intellectual disabilities.
  • Branches are a vitally important resource. Within the branch:
    • A trusted friendly face is important to help and provide support.
    • We need to allow time for individuals. Some people told us that they weren’t sure if JAM cards are recognised in the branches.
    • People said they didn’t feel the level of training and experience within branch staff (to support someone with ID) was consistent.
    • Long queues can be very challenging.
    • There are accessibility issues in some branches.
  • We heard that it is important for information to be Easy to Read (etr), in Plain English and about the importance of Audio.
  • Having a bank card for cash withdrawals and tapping is important. We also heard that people felt that ATMs / machines were often challenging to use without support and individuals often preferred using an ATM inside as it felt safer.
  • Many of the participants did not feel confident with digital banking, although a small number used online banking or an app. Concerns included remembering passwords, changing technology and technology not enabling for those who are visually impaired.
  • There was a fear about transferring money from one account to another. Training could be provided to support this; however, it would need to go at a suitable pace for each person.
  • Paper statements were preferred by most to manage finances.
  • Most of the participants were very familiar with the word ‘scam’ but less familiar with the word ‘fraud’. However, messages about scams and fraud are normally sent via online channels which are not received by those who are not digitally enabled.
  • Very few of the people we spoke to had borrowed money, one had a mortgage and ca. 2 had borrowed from a Credit Union. Many were not aware that banks did loans.
What we did

The findings of these customer listening sessions were highlighted and discussed with the IBCB board and our member banks. At these sessions we discussed what we heard from the people we met, and how we could best support their banking needs. In some cases, our member banks already had supports in place, and we needed to raise awareness of them. 

Our member banks have a range of supports available for people who need additional assistance with their banking. We have highlighted these on our website with links to further information for each of them. 

AIB
Need Extra Help
Additional Support helpline on 0818 227 056. Lines are open Monday to Friday 9am – 5pm. 

Bank of Ireland
Extra Help for Customers, Families and Carers
Customers can text EXTRAHELP to 50365 to get a link to the site. 

PTSB
Enhanced Customer Support
Phone number: 0818 818 721 or +353 1 655 0581 

 

We heard how important having a bank account is key for independence for customers with intellectual disabilities. Each of our member banks, among other products, offers a Basic Bank Account. A ‘basic bank account’ is a current account that allows you to have access to essential daily banking services if you do not currently have a bank account in Ireland. The IBCB has a Guide to the Basic Bank Account. This guide is for people who may need or want a basic bank account. It explains how to contact a bank, what to expect and what you must do. The IBCB and our member banks want to promote access to banking so that everyone can access financial services. The guide is written in plain English and is available in 10 languages. 

Each of our member banks do recognise the JAM card, however not everyone was aware of that. All of our member banks have committed to ensuring this is evident within their branches. 

One of the suggestions we heard at the sessions was to have some Banking How To guides in easy to ready (etr) format for some common banking transactions. The IBCB, along with our member banks worked with ACE Communication to create these guides. The 4 guides are for making a lodgement (putting money into my account), a bank transfer (sending money from one account to another), paying a bill or rent and setting up a standing order. They can be found on our website. 

Irish Prison Service

The IBCB and member banks has worked with the Irish Prison Service throughout 2022 and 2023 to support financial inclusion for persons in custody.

Providing the tools for Financial Wellbeing to victims of Domestic Abuse

In our work to facilitate cultural change in banking, the IBCB has been privileged to partner with TASC (Think tank for Action on Social Change) and Safe Ireland in helping to financially empower thousands of domestic violence survivors, addressing financial abuse and enhancing financial literacy.

Partnering with bodies who are seeking to make significant societal changes is central to our work. Mancy facets of culture in Ireland need to change and this is not limited to the banking sector. Our partnership with TASC and Safe Ireland, will provide the nearly 15,000 women and children who use specialised domestic violence services every year with the kind of support that makes a real difference in their lives. The initiative was also supported by MABS, the Money Advice & Budgeting Service, Ireland.

It is estimated that that over 90% of victims of domestic violence in Ireland also experience financial abuse. We are privileged to have partnered with TASC and Safe Ireland, in funding their Financial Resilience Training initiative, while also providing input into training materials, and coordinating the bank staff participating in the training sessions. This partnership will help to financially empower survivors of domestic violence and is a step in securing higher levels of financial literacy and inclusion in Irish society.

The purpose of the IBCB is to work with our member banks to build trustworthiness with the public and that behavioural and cultural change is evidenced by actions not words. Improving levels of financial awareness and resilience are key elements of this. Our support for TASC and Safe Ireland’s financial resilience training initiative underscores our dedication to positive change for the benefit of customers and society.

TASC held an event to launch this initiative and the evaluation report on September 20th. Our CEO, Marion Kelly, spoke at the event and was also interviewed on Today with Claire Byrne, alongside Mary McDermott, CEO, Safe Ireland.

A dedicated webpage has been launched, which hosts essential information and knowledge for those wishing to engage with this vital Financial Resilience Training (frt) initiative. Please engage with and share this webpage. We never know who in our lives or network might need the information it contains.

The IBCB created this short video about the initiative for staff of our member banks. It is written from the perspective of one of the staff members who were involved in the initiative. Please watch our video to find out more.

Play Video

Watch the video above.

Basic Bank Account Guide

In 2022 the IBCB 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 inclusion and accessibility to banking in Ireland. The guide was developed and launched with our member banks.

The IBCB undertook qualitative research in 2020 to better understand the needs and wants of people in accessing and utilising banking services. In doing so, it sought the views of organisations that support marginalised and vulnerable groups who experience difficulties accessing banking products. The research identified a clear need to raise awareness of the basic bank account as a first step towards financial inclusion across society.

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 peoples’ financial freedom and providing dignity and access to a better life for many.

Our research also indicated that language barriers create further challenges for customers to access financial services. As a result, we translated the guide into Arabic, French, Lithuanian, Polish, Pashto, Urdu, Portuguese, and Mandarin. We selected these languages on the basis of an identified need to help access financial products and services. We subsequently translated the guide into Ukrainian, following the outbreak of the conflict in Ukraine and have provided copies of the guide to organisations supporting customers, including MABS, National Advocacy Service, Safe Ireland and the Department of Justice.

Click Here for more information. The guides can be found here.

Providing the tools for Financial Wellbeing to victims of Domestic Abuse

In February 2022, the IBCB announced a partnership with TASC (Think-tank for Action on Social Change) and Safe Ireland, coinciding with the launch of our Guide to the Basic Bank Account, to provide financial resilience training to victims of domestic violence. This was delivered through funding, subject matter expertise and support, in conjunction with member banks. The programme was delivered as a ‘train the trainer’ programme, which we hope will provide a lasting, nationwide impact. Safe Ireland estimated that the training has the potential to benefit at least 11,000 women and over 2,500 children per year. It is widely recognised that the provision of targeted knowledge and skills in money management are a significant benefit to service users, reducing vulnerability. Enhancing the financial independence of victims of domestic violence directly creates capacity to act and to leave abusive homes – to survive and thrive. The IBCB worked closely with TASC and Safe Ireland throughout 2022 to develop this programme.

In September 2021, the IBCB facilitated a roundtable discussion between the Insolvency Service of Ireland (ISI) and member banks, to provide an informal opportunity to discuss areas for improvement and interaction between banks and the ISI, in support of customers in financial difficulty. The outcome of this discussion was agreement between participants in member banks and the ISI that member banks and the ISI would engage directly with each other with any feedback, in particular on the processes with Personal Insolvency Practitioners (PIPs), with a focus on improving process, communication and applying learnings to help customers who are in long-term arrears.

In light of the impact of the Covid-19 pandemic on consumers and businesses, our financial awareness activities in the period focussed on activities and engagements to raise awareness and support consumers, in particular in areas such as payment breaks, and the range of alternative options available following payment breaks and specific initiatives to raise awareness for SMEs and Farmers. Our activities also included initiatives for customers in a vulnerable position and bereaved customers. Through this work, we engaged with member banks, the Banking and Payments Federation Ireland (BPFI) and organisations such as the Money Advice and Budgeting Service (MABS) and the Society of St. Vincent De Paul.

Throughout the COVID-19 pandemic, the IBCB highlighted the needs of vulnerable customers. Some, who experienced vulnerability prior to the pandemic faced an exacerbation of their circumstances and a significant number of bank customers have experienced vulnerability because of the impact of the virus on their health or financial circumstances. The IBCB highlighted steps taken by member banks and the banking industry to provide systemic payment breaks, followed by a range of solutions to customers experiencing difficulty in making loan repayments. We also highlighted positive steps taken by member banks to provide additional supports for customers in a vulnerable position, with specific times available for branch banking, dedicated phone lines, companion cards and other supports. In addition, we have promoted campaigns aimed at reducing financial abuse and fraud.

During 2020, we contributed to consultations related to aspects of supports for customers in a vulnerable position. In May 2020, we responded to the Law Reform Commission’s Issues Paper on ‘A Regulatory Framework for Adult Safeguarding’. The IBCB response focused on financial abuse which impacts on bank customers, bank staff, and institutions. The categories of financial abuse raised in the issues paper include thefts and scams, financial victimisation, coercion, signs of possible financial exploitation, and money management difficulties. These are issues which are also of concern to the banking industry, and all IBCB member banks have existing services in place to protect and support customers who may experience financial abuse.

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Basic Bank Account Guide

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customer listening sessions with people with Intellectual Disabilities

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