Paying the Price – A report into issues prisoners face around access to banking

FinCap recommends that all in Aotearoa have guaranteed access to the essential services they need for health, wellbeing and social participation. Bank accounts, electricity retail contracts and access to telecommunications are a few examples of products and services whānau should never be denied.

In 2022 we discussed potential research topics with academics at Victoria University. One issue that some financial mentors continue to be extremely frustrated with is that prisoners, or those leaving prison, face barriers to getting a bank account.

The report below comprehensively examines the way this issue causes and compounds harm as well as approaches that could be taken to resolve the issue.

It concludes with a series of recommendations on how government, industry and the social sector can work to ensure financial inclusion for prisoners, former prisoners and their whānau.

FinCap thanks Victoria Stace and John Sibanda for excellent research as well as all who provided them insights.

Paying the Price – A report into issues around access to banking