Since 2006 Zweite Sparkasse has been offering bank products to people who are facing difficult situations and do not have access to conventional banking services owing to serious financial problems.
Under an initiative launched by Wiener Städtische Versicherungsverein, since 2007 the “bank for the unbankable” has provided its customers with basic insurance in collaboration with Wiener Städtische Versicherung. The coverage consists of free quarterly legal advice, as well as free accident insurance for account holders and their children. Household insurance is also available at a cost of only EUR 3 per month.
Wiener Städtische was the first insurer in Austria to address the topic of microinsurance and offer coverage against specific risks. The partnership with Zweite Sparkasse enables Wiener Städtische Versicherung to leverage its core competence for the benefit of socially disadvantaged groups in Austria.
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