Westpac NZ has updated its bankruptcy policy to improve access to basic banking services for Kiwis going through tough times.
The Westpac NZ Access to Banking in Aotearoa Report, released last year, found New Zealanders who had been made bankrupt often had their bank accounts closed and subsequently struggled to open a new account.
The report found being unable to access a bank account had a high impact on a variety of marginalised groups. One of the recommendations was for greater flexibility and case-by-case consideration for customers who are bankrupt.
Westpac’s Manager Customer Vulnerability and Financial Inclusion, Louisa Brock, says Westpac was already working on changes to its bankruptcy policy to reduce the number of pe…
Read the full article at: https://www.miragenews.com/westpac-nz-boosts-bank-access-for-kiwis-in-hard-1161018/