Managing Your Finances
Putting consumers at the heart of Irish finance
The Consumer Protection Code (CPC) will not only ensure fair customer outcomes in Ireland’s motor finance and wider financial services market. Crucially, it’ll make finances clearer, safer and more sustainable for Irish consumers.
At Close Brothers Motor Finance, customer outcomes drive us. Good financial services thrive on positive customer experiences, so the longawaited Consumer Protection Code (CPC) earlier this spring was welcome news.
Decoding the CPC
The CPC is the Government’s flagship financial services consumer protection regulation. It was originally introduced in 2007 but has been updated several times. The latest version reinforces financial services consumer protection in Ireland and improves customer outcomes.
A key objective is to bring greater transparency. We all, no doubt, experienced opening a letter from a finance business only to find it full of jargon and difficult to understand.
working hard in recent months to ensure systems and processes comply with the new regulations.
A key plank has been the revision of customer communications to bring more clarity, accessibility and transparency to how firms interact with customers. Likewise, customer journeys are being strengthened to ensure protection and positive outcomes at every step.
Good customer outcomes aren’t just about how firms talk to their customers, but also the way they listen.
The CPC aims to stop that, calling upon financial services providers to focus on clarity in communications. This is especially the case for consumers in vulnerable circumstances, who will receive enhanced support.
What to expect from your financial services provider
Financial services businesses across Ireland — including our team at Close Brothers Motor Finance — have been
Good customer outcomes aren’t just about how firms talk to their customers, but also the way they listen. So, complaint and error handling processes are also being enhanced to ensure firms can be more responsive to customer needs.
Our team at Close Brothers Motor Finance has long placed customer outcomes at the heart of what we do. This is why, for us, our 4.8 Trustpilot is more than just a number; it’s a daily reminder of what good customer service looks like. And it’s why we recently moved from having an external company provide our customer service support to bringing customer service in-house and recruiting our own internal customer service team based in our Dublin office, putting service at the core of our team and close to our customers.
Convincing investment scams surge online
Increasingly sophisticated investment scams that look highly convincing and legitimate are costing Irish consumers tens of thousands of euros.
Mary D’Arcy
Losses can start anywhere from €250 on crypto scams, with bigger scams involving shares, bonds or similar products often leading to losses of €30,000-€40,000, and sometimes far more. Victims are not necessarily wealthy but ordinary people trying to make sensible decisions about their financial future.
Scammers build trust before funds disappear
Fraudsters use pop-up adverts, social media posts and comparison-style websites to promote fake opportunities, sometimes featuring apparent endorsements from well-known public figures. These images or videos are often generated using artificial intelligence, making it harder than ever to tell what is real and what is not.
Many scams follow a similar pattern. After someone clicks an advert or link, they are asked for contact details and then receive a call from a person posing as a financial adviser. Scammers often use the name and branding of a well-known bank or investment firm, and back it up with links to high-quality brochures
and professional-looking websites. Once a payment is authorised, funds are quickly moved through multiple accounts, often overseas, making recovery extremely difficult. By the time doubts arise, the money is usually gone.
Pausing can make all the difference Banks use a range of measures to protect customers, but because these scams target people directly, knowing the warning signs is essential. The most important step is to pause. Before investing, confirm a firm is authorised by checking the Central Bank Registers and contact the firm using details you source independently (not those provided in an advert). Discussing the opportunity with a trusted adviser, friend or family member can also provide perspective. If something feels too good to be true, it usually is. If you have shared personal information or bank details, or transferred money and suspect a scam, report it to your bank and the Gardaí immediately.
Eoin Farrington
Operating Oficer,
Brothers Motor Finance
Motor finance made simple
Explore motor finance with VWFSI — combining car solutions and finance to deliver tailored, flexible PCP and HP options.
For many Irish consumers, purchasing a car is one of the most significant financial decisions they will make. Understanding motor finance options is key to making a decision with confidence.
Choose your finance fit
Volkswagen Financial Services Ireland (VWFSI) supports customers by offering flexible finance options designed to suit a range of needs and by helping them understand their choices. It focuses on providing transparent information and supporting informed decision-making through an application process designed to be straightforward.
Motor finance offers an accessible path to vehicle ownership. Common options include Personal Contract Plans (PCP) and Hire Purchase (HP), each designed to suit different lifestyles and financial circumstances.
PCP typically offers lower monthly repayments with flexible end-of-term choices, while HP provides a straightforward route to full ownership. PCP is offered on new and selected used cars, giving customers greater flexibility when choosing their vehicle.
Simple, smart car finance
As part of the Volkswagen Group, VWFSI combines financial expertise with deep automotive knowledge, ensuring finance solutions are tailored to customers’ requirements and the vehicles themselves. This allows for competitive offers, flexible products and a seamless journey from showroom to ownership. Our finance products are complemented by Service Plans that help plan servicing costs in advance and ensure vehicles are cared for by manufacturer-trained experts using genuine parts.
Additionally, VWFSI offers access to a nationwide authorised dealer network across multiple Volkswagen Group brands, ensuring consistent service and high standards. With finance, servicing and support working together, customers enjoy a joined-up, convenient experience.
Whether you choose PCP or HP, applying for finance with VWFSI is simple. In fact, 79% of 1000+ participants in our 2025 Customer Satisfaction Survey found the application process very easy, while 87% would choose VWFSI again for their next car finance: a reflection of our customer-centric approach that puts the customers at the heart of everything we do.
New investment account hopes to provide a more accessible option for Irish savers
Managing personal finances is about more than balancing a budget or paying bills on time. It’s about independence, security and empowering people to plan for the future.
Whether it’s a young person opening their first bank account, a couple saving for a home or parents saving up for their children’s education, financial literacy is one of the most important life skills we can equip people with. Make no mistake — Irish people are responsible with money. Across the country, people work hard, save carefully and try to plan ahead.
Deposit accounts shouldn’t be the only option
Too often, those savings are sitting in low-interest accounts where inflation gradually erodes their value over time. Deposit accounts have an important role; they provide certainty, security and easy access to money when needed.
For many, they’re the right choice, but they shouldn’t be the only realistic option available to people who want to grow their savings and build long-term financial security. That’s why improving financial literacy and encouraging wider participation in retail investment has become an important priority for me as Tánaiste and Minister for Finance.
Last year, Ireland launched its first National Financial Literacy Strategy to help people feel more confident in understanding money, asking questions and making informed financial decisions. A key focus is improving understanding of saving and investing.
This month, I’m appointing financial literacy ambassadors to support this effort and participate in an EU-wide network promoting
financial education. The objective: help build an investment-saving culture that other countries already have.
That doesn’t mean encouraging reckless behaviour or asking people to take risks they’re uncomfortable with. It means helping people better understand the choices available to them, the protections that exist and the importance of making decisions that suit their own circumstances and long-term goals.
New investment account
But financial literacy alone isn’t enough, which is why the Government is progressing plans for a new investment account.
The investment account should be simple, accessible and transparent. People should clearly understand what fees they’re paying, what tax treatment applies and how their investment works. It should be easy to use, easy to move between providers and free from unnecessary complexity or hidden charges.
I want to make investing feel less intimidating and less like something reserved for a few. The investment account can provide a clearer, more accessible route for ordinary workers and families who want to plan and build financial resilience.
Ultimately, it’s about building a culture where people feel more confident about money and more empowered to shape their own financial future.
A financially resilient society is one where people have the knowledge, tools and opportunities to plan with confidence. That’s what I want to achieve.
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Simon Harris TD Tánaiste and Minister for Finance
Why more choice matters when choosing the right savings provider
To make the most of your money, shop around for the best savings providers offering the best rates — and, while you’re doing so, be aware of online scams.
ACentral Bank of Ireland report released late last year found that — within the EU — Ireland has among the lowest levels of direct retail participation in capital markets.
“As a result, €140 billion of Irish household deposits are sitting in savings accounts or current accounts earning next to nothing,” says Eoghan O’Hara, Country Head of savings platform, Raisin Ireland. “We need to encourage people to have the confidence to look around for better options for their hardearned savings.”
It shouldn’t be a surprise that people are so risk-averse with their money, particularly in today’s volatile and unpredictable world. Obstacles to investment identified in the report include psychological barriers — such as fear and a lack of trust — plus knowledge and understanding about investment, and a lack of support and advice.
O’Hara agrees these are real issues. “Maybe you are someone who is
unsure about what to do or lacks the confidence to move money,” he says. “Or maybe it’s just not in your nature to invest. In Ireland, we can be conservative with our money.”
Steps to building financial literacy and confidence
Still, he points out that there are better options available that don’t require you to take on unwanted risk.
“For a start, I encourage people to move their money from a low — or no — interest savings account into a higher interest account,” says O’Hara. “It’s a really good first step in building your financial literacy and can be a great first step in building financial confidence”
Having choice is key. Whatever financial decision you make — from buying groceries to looking for a credit card or home insurance provider — you shop around and find the best value. It should be no different when choosing a savings provider.
“For example, we currently have 33 European banks on our platform,”
says O’Hara. “Giving yourself choice and looking around for the most attractive rates is the right thing to do.”
Thanks to EU deposit guarantee schemes — which protect savings up to €100,000 per depositor, per banking group in all EU Member States, even if a bank fails — savers don’t have to stick with their own bank. They can look further afield.
“If you’re not happy with the rate your bank is offering you, it’s possible to go elsewhere and — without taking on any extra risk — earn in some cases 2% or 3% more than you are earning at the moment,” says O’Hara. “That can have a real impact on your ability to keep up with inflation.”
For a start, I encourage people to move their money from a low — or no — interest savings account into a higher interest account.
Cash deposits and staying secure online
Of course, having easy access to cash deposits is an important part of risk-appropriate financial planning.
“It’s good to have funds available in an emergency,” says O’Hara. “If your money is to hand, it gives you psychological security so you can deal with whatever life throws at you. But, again, if you have cash sitting on deposit, make sure it’s in the place that’s giving you the highest possible return.”
Also, when banking online, be aware of scams. For O’Hara, the biggest, most sinister online scam is phishing, where cybercriminals impersonate established, reputable organisations and send out emails and texts to steal personal details, bank details and passwords.
“With the onset of AI, phishing is becoming more sophisticated,” he says. “These people are well able to make very convincing emails, phone calls and SMS messages. The ultimate rule of thumb is: ‘If it looks too good to be true, it normally is.’
‘Also, if you ever get any communication that you’re unsure of from a provider like us — or any other — pick up the phone and double-check with them. We will never call, text or email anyone to say: ‘This is the perfect account for you – please deposit your money!’ So, if you’re in doubt, just get in touch with us.”
Eoghan O’Hara Country Head Ireland, Raisin
Sponsored by Raisin
WRITTEN BY Tony Greenway
Tokenisation and the democratisation of investing
Financial services are undergoing rapid technological change as tokenisation is redefining how we invest.
The first Industrial Revolution brought the world the steam engine alongside machines to produce textiles. This development meant much less need for specialists in hand weaving, which is to say, worker anxiety over new technology is not a new phenomenon.
In 2026, deep into the fourth Industrial Revolution, AI is the dominant theme shaping the global economy and capital markets. In addition to AI, the blockchain is another central pillar of this latest era for innovation. Financial services are increasingly defined by speed, with customers expecting seamless transactions almost instantaneously.
With that in mind, tokenisation — the process of creating a digital representation of an asset using a blockchain-based token — is a technological advancement with far-reaching ramifications.
Fractionalisation
That is particularly the case in the investment world, where tokenisation can remove the settlement delays that typically come with trading stocks and bonds. This technology also opens new avenues for product development through fractionalisation, which is when ownership of an asset (stocks, bonds, even real estate or fine art) is divided into smaller digital units. This process means investments previously out of reach for retail investors due to high costs or illiquidity are now accessible — part of the wider democratisation of investing.
Of course, a hedge fund’s risk/return profile is different to an individual with limited investment knowledge. In its recent paper, ‘DLT & Tokenisation in Financial Services,’ the Central Bank of Ireland emphasised the need for a “robust regulatory framework that ensures financial stability and consumer protection.”
Irish leadership
Overall, the regulator views tokenisation as a great opportunity to improve efficiency and lower costs. With that in mind, Ireland’s position as a leading international fund domicile — the third-largest fund centre in the world — means it can be a driving force for tokenisation.
Technology and rapid change can be scary at times, but as history has proven time and time again, the benefits of innovation typically outweigh any short-term disruption. Tokenisation is another example of ingenuity at work and will be at the centre of this latest revolution in financial services.
A fresh approach to credit resolution
Managing outstanding debt is one of the more stressful financial situations a person can face. In many cases, the barrier to resolution is not willingness but difficulty engaging with the process at all.
Harbour Credit has launched in the Irish market to address exactly that. Harbour Credit is a trading name of Pepper Finance Corporation Ireland DAC, which is regulated by the Central Bank of Ireland. It will provide services to a broad range of sectors, from banks and auto finance providers to utilities and telecoms. The same customer-focused standards apply across all areas.
Working with and for customers
The starting point in every case is conversation. The focus is on understanding each customer’s circumstances and finding a resolution that is genuinely sustainable. That might mean a payment plan, a revised arrangement or a negotiated settlement.
The goal in each case is the same: an outcome the customer can maintain. Across sectors, from loan arrears to an unpaid utility bill, the same collaborative, sustainable approach applies.
How AI is changing the experience
Traditionally, resolving financial challenges meant phone calls during working hours, lengthy waiting times and a process that felt rigid and impersonal. AI-powered engagement changes that, especially conversational and voice-based agentic AI.
Customers will be able to interact at a time that suits them, receive clear information about their options and move through the process at their own pace, while our team ensures complex or sensitive situations receive the personal attention they need.
The case for earlier engagement
Earlier engagement almost always leads to better outcomes. The longer an account remains unresolved, the fewer options are available. For anyone who has received a letter about an outstanding account, whether from a bank, a telecoms provider or a utility company, the most important step is simply to respond. Harbour Credit is here to help make that first step easier to take.
From saving to investing: Closing Ireland’s confidence gap
Building understanding and trust to help Irish households plan for the long term.
Irish households make financial decisions in a changing world.
Planning for the long term
Day-to-day needs come first, but most people are also thinking about how to plan for the future — retirement, supporting a family or maintaining financial security.
Saving plays an essential role, particularly for short-term needs. However, over longer horizons, saving alone is often insufficient to meet future goals, as inflation erodes the real value of money over time.
Why confidence matters
For many people, investing still feels remote. Markets can seem volatile, and it is not clear where to begin. That lack of confidence is a key barrier. Without a solid foundation, people may disengage or leave money in cash, missing chances to build financial security.
Financial literacy is not about turning everyone into an expert. It is about confidence — understanding core ideas such as saving and investing, risk and return, inflation and starting early.
Ireland is a global leader in funds and asset management, yet participation remains relatively low. Research shows uneven confidence, with gaps by age and gender. Younger adults are often less certain in financial decisions, and in some cases, take on higher risk investments, while many women report lower confidence despite strong saving habits.
Improving financial literacy must begin early. Clear, accessible information — delivered through trusted programmes in schools, workplaces and public initiatives — can demystify investing. Small steps taken early can make a meaningful difference over time.
Making investing simpler
As the Government explores Personal Investment Accounts, international experience shows that approaches work best when they are simple, understandable and trusted. People should be able to see clearly what an investment product does, what it costs and the level of risk.
Patricia Callan Director, Financial Services Ireland Group
Empowering more people to engage confidently with their finances supports both individual security and broader economic resilience. Aligning Ireland’s global leadership in funds and asset management with a system that works better for Irish households would be a positive step for people and for the wider economy.
Pat Lardner CEO, Irish Funds