AI-powered Benefits Finder tool from Bank of Ireland aims to connect people with millions of euro in unclaimed tax refunds.
Bank of Ireland has launched a new Benefits Finder tool designed to help customers identify tax credits and reliefs they are entitled to but have not claimed.
According to Revenue, hundreds of millions of euro in tax refund go uncollected in Ireland every year.
The AI-enabled digital tool is available to customers to use free of charge through the Benefits Finder app on Bank of Ireland’s website.
The service is designed to strengthen financial resilience by ensuring customers are claiming tax credits and reliefs that they are legitimately entitled to.
Claim what is yours
According to Red C research conducted by the Bank, despite strong awareness of tax benefits, around one in seven people (16%) in Ireland have never claimed tax back and think they could be eligible.
So far this year, Revenue has paid out €637m in tax refunds to well over half-a-million taxpayers. Data from Revenue states that over 500,000 people missed out on refunds in 2024 alone, leaving an estimated €389 million unclaimed. The average refund is a substantial €900.
“Helping our customers build real financial resilience means going beyond the basics,” said Aine McCleary, chief customer officer at Bank of Ireland.
“Our research showed that there is an understanding gap among some consumers when it comes to claiming benefits. So, while around three quarters of the population have claimed a tax benefit, more regular claimants tend to be those who are already more financially stable.”
Claiming tax benefits in Ireland is done through Revenue’s PAYE online system, MyAccount. Among those who claim regularly, 68% say they find the process easy. However, the research highlights persistent barriers for others.
More than four in ten non-claimants said they were unsure what they could claim for, while a third did not realise they were entitled to any refunds at all. Almost the same number said they did not know how to go about making a claim. Even among those who do claim tax back, 36% do so only intermittently, every few years rather than annually.
The Benefits Finder tool aims to address those challenges by offering a short, step-by-step experience that takes only a few minutes to complete and points users towards potential entitlements they may wish to explore further.
“Tools like Benefits Finder can help to bridge this gap by making it easier for people to discover what they’re entitled to have,” McCleary said.
“This meets a genuine customer need, and helps to build financial resilience in practical terms, potentially putting hundreds or even thousands of euros back in their pockets. Taking these simple steps to avail of all entitlements can help to build financial buffers, as even a modest cushion can significantly improve resilience.”
Top image:Sabrina Fox, head of Customer Delivery; Aine McCleary, Chief Customer Officer, Bank of Ireland; Conor McCarthy, Customer Experience Group Centre; and Louise Golden, senior proposition manager.
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