Bank Goes To The Dogs . . . With A Pet Account

  • 09/04/2018
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A dog might be a man’s best friend, but he never puts his paw in his pocket when it comes to picking up the bill.

Until now, that is. An Italian bank has begun offering pets of all kinds the chance to set up bank accounts to help to pay for their needs, from dog biscuits to cat litter to fish food.

Sensibly, perhaps, Italian law does not allow animals to be the sole account holder but their owners can add their names to an account called “Faithful Friends”. Banca di Piacenza, a regional bank in the northwest of Italy, said: “A few months ago a client asked if he could open a current account in the name of his dog, a cocker spaniel named Roll. Of course, you can’t, because account holders have to be physical persons. But there is nothing to prevent the addition of the name of a dog.”

Among the first to open a pet account was Corrado Sforza Fogliani, the chairman of Banca di Piacenza, who added the name of his cocker spaniel, Sun. He told La Stampa: “We realised that many people spent large sums on their pets and wanted to separate the costs for their dogs from their own.”

Italians are believed to own about seven million dogs and eight million cats. The pet accounts cost €6 per month but offer discounts at pet shops, veterinarians and on animal insurance and a GPS tracker to keep tabs on pets.

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