Irish banks commit to the bereaved
Five Irish banks will each set up a phone line to help the bereaved access funds to pay for funerals for their loved ones.
The initiative comes from the Irish Banking Culture Board (IBCB), which was recently set up to try and improve the behaviour of Irish banking executives following the costly collapse of the Irish banking system 10 years ago and the tracker mortgage scandal.
Work done by the culture board showed that few people facing bereavement were aware of the fact that the five banks — AIB, Bank of Ireland, KBC Bank Ireland, Permanent TSB, and Ulster Bank — provided services for customers to access the funds of their deceased to pay for funerals.
The banks have now committed to setting up a phone line and to ending sending promotional brochures addressed to the deceased.
Padraic Kissane, who is a member of the culture board, said that it believes the initiative will make a difference for the bereaved.
Sharon Foley, chief executive at the Irish Hospice Foundation, said that there was “room for improvement” for financial firms and utilities to deal much better with their bereaved customers.
“Empathy and prompt, sensitive communication are key and this systematic approach will help staff to better support bereaved customers all over Ireland,” she said.
The Irish Banking Culture Board is itself under scrutiny to deliver significant changes to Irish banking practises.
It says it “will demand that participating banks improve culture, customer outcomes, and competence” and “promotes ethical behaviour and advocates for humanity, decency and respect in the banking sector”.
Its chair, Mr Justice John Hedigan, said:
As a board, we aim to embed ethical behaviour in banking culture across Ireland.
"Support for bereaved customers was a frequent topic brought up during our consultations with the public, and the IBCB has acted on this information to deliver this common commitment of care.
"Losing a loved one is a traumatic event in anyone’s life, and banks should work to ensure they help those who are grieving as much as possible.”
