Jack Wall (Kildare South, Labour)
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59. To ask the Minister for Finance to outline the progress being made by his Department on the implementation of the strategy for financial inclusion, and in particular, the current numbers of standard bank accounts which have been rolled out in line with the associated targets for the end of 2013; and if he will make a statement on the matter. [31902/14]

Jack Wall (Kildare South, Labour)
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60. To ask the Minister for Finance if he will provide details of the current preparations and progress for the national roll-out of the standard bank account, as recommended in the financial inclusion strategy, of June 2013 and updated in November 2013. [31903/14]

Jack Wall (Kildare South, Labour)
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61. To ask the Minister for Finance to outline the plans and activities of his Department to achieve greater involvement by credit unions and An Post to have the best possible channel for reaching the target cohorts, in particular making the standard bank account available through the credit unions or An Post, as recommended in the financial inclusion strategy; and if he will make a statement on the matter. [31904/14]

Jack Wall (Kildare South, Labour)
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62. To ask the Minister for Finance if he will provide details on the barriers to existing infrastructure which were identified in the strategy for financial inclusion as a rationale for the lack of greater involvement by the credit unions and An Post to have the best possible channel for reaching the target cohort in making the standard bank account available through the credit unions or An Post; the actions, if any, his Department has taken to identify these barriers and identify the steps taken, if any, for their removal; and if he will make a statement on the matter. [31905/14]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 59 to 62, inclusive, together.

The Strategy for Financial Inclusion was presented to Government in December 2011. It called for the nationwide launch of a Basic Payment Account as a first step in promoting Financial Inclusion. A pilot project for a Basic Bank Account was run as one of the tasks required under the strategy.

The pilot objectives were to launch a Basic Payment Account product, test the response to it and reaction of the target customers and use that experience to inform the national roll-out. The Basic Payment Account was re-branded as the Standard Bank Account to counter fears of stigmatising users of the product.

The Standard Bank Account pilot project finished on 31 March 2013 after a 9-month pilot period. A total of 205 accounts were opened during the Pilot, which the Financial Inclusion Working Group (FIWG) felt was disappointing. The report on the Standard Bank Account pilot project dated June 2013 and updated in November 2013 was published on my Department's website on 10 January 2014.

The Report of the Working Group on the Pilot project noted the view of stakeholders that one of the key elements required as part of the preparations for a successful national roll-out of a Standard Bank Account is greater involvement by An Post and the credit unions.  This was seen as necessary to have the best possible channel for reaching the target cohorts. The Report also noted that barriers of existing infrastructure such as access to the clearing system had prohibited their more extensive involvement to date.

Following the pilot phase, my Department engaged in a series of bilateral discussions with the stakeholders in order to best determine next steps. However, in the course of discussions with An Post - which has the widest branch network -  it became clear that one of the main issues in securing their effective involvement related to the cost to An Post of providing the bank account. This issue is currently being examined by my Department. I understand that some of the larger credit unions will be in a position to offer the account to customers in the future.