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Finance & Economics

Bank of Ireland allows asylum seekers to open accounts

May 14, 2021

Asylum seekers may not have the traditional documentation that most banks require to set up a bank account

Bank of Ireland

Bank of Ireland allows asylum seekers to open accounts. Source: pexels.com

Bank of Ireland has launched a dedicated website hub for asylum seekers with summary information provided in 19 languages.

The hub explains the types of bank account available, the documentation that is required to open one, and how to apply.

The Bank has also tailored its current account opening requirements to accept substitute State-issued documentation such as a Temporary Residence Certificate (TRC), ‘Stamp 4’ Irish Residency Permits and/or the Irish-government-issued Refugee Travel Document.

Financial inclusion is by no means the only challenge facing asylum seekers but it’s a hugely significant one. Members of my family fled Egypt and sought asylum in the UK, so I’m particularly proud that Bank of Ireland has shown leadership on this issue. A bank account is so essential nowadays that most of us probably take it for granted. Without a bank account asylum seekers are denied a safe place to hold their money, not to mention access to a range of other services. This makes it harder for them to start building a new life here
Francesca McDonagh, Bank of Ireland Group Chief Executive

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