Monday May 25, 2020

Are transaction fees the next banking battleground?

Permanent TSB seeks new customers with fees deal as Ulster Bank mulls over introduction of charges, writes Emma Kennedy.

30th March, 2013
Bank of Ireland clamped down on free banking last year. Photo: Tony O'Shea

Aglimmer of competition is returning to the retail banking sector, with Permanent TSB bucking the trend and making it easier for current account customers to avoid transaction fees.

On Tuesday, the bank will launch its new current account. To qualify for fee-free banking, customers will have to lodge €1,500 to their account every month. The bank will also pay 1 per cent credit interest on balances up to €1,500.

Until last week, Permanent TSB customers who...

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