A recent report commissioned by Westpac New Zealand and conducted by ThinkPlace has revealed that nearly one in four New Zealanders live with a disability, facing barriers when trying to access banking services. These barriers make it difficult to manage essential financial tasks such as paying bills or securing housing.
The Westpac NZ Disability and Inclusion in Banking Report takes a look at the experiences of individuals with various disabilities, including difficulties with vision, hearing, and physical mobility. The findings emphasise that accessing banking services is not just a matter of convenience; it is critical for full participation in society.
“Having difficulty accessing banking services can have a profound impact on someone’s life. At the upper end of the scale, not being able to access a bank account can make it hard to pay for a place to live, keep a job, and pay bills,” Westpac NZ chief executive Catherine McGrath said.
“Even if you have an account, when you experience barriers to using banking services, it can add challenges to people who already experience a large range of difficulties in day-to-day life,” she added.
“This can leave them open to exploitation and feeling disconnected from their community—having a big impact on their welfare.”
The report outlines several barriers that disabled individuals encounter when trying to use or open bank accounts. These barriers include identification issues that prevent people from having an account, the lack of accessible banking options tailored to meet the needs of disabled customers, and staff training to assist customers with disabilities effectively.
“Around 1.1 million New Zealanders identify as having a disability, and recent figures show that growing by around 20% a decade due to the explosion in our ageing population,” McGrath stated.
“So it’s vital that banking and a range of other industries improve accessibility to meet the needs of this growing group.”
McGrath noted that while they have been working for some time to enhance the accessibility of its services, the findings from this research underscore the numerous challenges that still persist. Interviewees have expressed that the banking system must improve its efforts to better serve individuals with disabilities.
“We’ve taken those insights on board and will be sharing them with other banks and partners in government,” McGrath said.