BoI to earn up to €2,400 on each SSIA spin-off product

Bank of Ireland will pocket up to €2,400 over five years from holders of Special Savings Incentive Accounts (SSIAs) who reinvest their lump sums in its follow-up equity-based investment product, which was launched last week.

11th February, 2006

Bank of Ireland will pocket up to €2,400 over five years from holders of Special Savings Incentive Accounts (SSIAs) who reinvest their lump sums in its follow-up equity-based investment product, which was launched last week.

But the Financial Regulator said it had no plans to force banks and investment companies to do more to explain their charging structures, despite criticism that many customers have failed to grasp the extent of fees paid on such products.

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