A blocked credit card is a relatively common incident if the bank suspects a potentially fraudulent transaction. Though understandable as a precautionary measure, it can be quite annoying in terms of getting any lost money back. Yet unblocking it should be a straightforward task. Well, I’m afraid that is not the case for everyone. For deaf consumers, this is seemingly impossible.
Double standards
Recently, my professional credit card was blocked and to unblock it I was supposed to call a specific phone number to be able to do so. A similar situation happened to another colleague, who unlike me, was able to solve it quickly.
For me, alas, it was impossible. I am deaf. Therefore, I cannot call, my card is still blocked, and I cannot make any payments, while my colleague could continue to work normally.
If that is not discrimination in financial services, well I don’t know how else to describe it.
Deaf consumers are not second-class citizens
I am as much a consumer as my non-deaf colleague, not a second-class citizen. I should benefit from the same service. In the end, after quite some interventions by my colleagues who fortunately are consumer protection experts, I just got a new credit card. But this is of course a longer administrative procedure than just a phone call.
If I ask someone else to call…the person remains ‘tone-deaf’ to the fact that a deaf person cannot hear
If I ask someone else to call, it won’t work due to security concerns. Even if we explain the context, the person remains, ironically, ‘tone-deaf’ to the fact that a deaf person cannot hear the person at the other end of the line.
Above: all consumers should be able to benefit from the same quality of service in financial services
In my private life, I once wanted to contact my online bank and knew it would be faster to call them. I cannot accept this either that I have to get a slower service if I fill in a form or send an email instead of calling. The only way for me to do this is to get someone to impersonate me. This is not only wrong but also unnecessary when I am paying for a service like any other client. Even if my friend did help, this is identity theft so if anything happens with that bank account I could be liable.
A missed opportunity for banks and deaf persons
From a business perspective, there are untapped opportunities. I am obviously not the only deaf person in Europe. We’re roughly 20% of the European population, counting deaf people and those experiencing hearing loss. That means around 90 million potentially happy customers! Financial services score low in cross-sector consumer satisfaction surveys, so this would be a good means to improve their ratings.
From a business perspective, there are untapped opportunities
How astounding it is to see that banks and financial entities are so quick to create all sorts of innovations such as being able to pay with your smartwatch, but then lack behind on providing accessibility solutions. They do not even have to invent them, they already exist!
The impact of inaccessible financial services
I want to be a person who can work efficiently. Because of this lack of accessibility, I was indeed unable to fulfill my duties as a secretary since my card no longer worked.
No wonder then that in the EU persons with disabilities experience higher unemployment: almost one in five 20-26 year-olds compared to 8.6% of people without disabilities from the same age group. Why hire a person whose needs cannot be ensured by mainstream services like financial services? And whilst I am deaf since the age of two for unknown reasons, hearing loss and deafness are potentially becoming a public health issue amongst young adults due to unsafe listening practices. Which means more and more consumers might be impacted by inaccessible financial services.
Above: accessible services can benefit many people: not everyone enjoys waiting on the phone
I am convinced that more accessible services can benefit even a bigger percentage of consumers. Many people simply dislike calling and waiting on the phone. Banking apps providing a chat with an actual person (not just a bot), for example, can be a faster option and can keep track of exchanges, which can protect and ensure consumers’ rights.
Time for action
It’s high time for more accessibility in financial services. The industry is seemingly not yet starting to implement the EU’s 2019 Accessibility Act, which includes accessibility requirements for key services like consumer banking. This will enter into force in 2025 for new services and 2030 for existing services.
Before then, I wish banks would move faster where solutions are already available. But I can’t wait for the Accessibility Act to finally become a reality!