BoI not to offer interest on current accounts

Bank of Ireland is preparing to sit out the price war being waged among the other main banks to attract current account customers by paying interest on their credit balances.

17th March, 2007

Bank of Ireland is preparing to sit out the price war being waged among the other main banks to attract current account customers by paying interest on their credit balances.

The bank said last week that customers should not keep excess cash in their current accounts and should instead transfer money to high interestpaying savings accounts that were on offer.

‘‘We do not recommend that customers use their current account as a savings vehicle,” said...

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