Catherine McGrath: Westpac chief executive on the bank's plan to launch new 'basic' bank accounts

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Recorded21 Jan 2025

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There's a growing push to make banking more accessible for the disabled - and one major bank aims to launch a solution. A new Westpac-commissioned found nearly one in four Kiwis have a disability, and can encounter barriers to accessing accounts and services. The bank wants to introduce a new 'basic' bank account, to help reduce numbers of people not using banking. Chief executive Catherine McGrath says it matches a UK offering, with specific features. "The don't have overdrafts, the types of transactions can be a bit restricted." LISTEN ABOVESee omnystudio.com/listener for privacy information.

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