Central Bank concerned about certain bank charges

A Central Bank inspection has raised a number of concerns with the way certain ‘out-of-order’ charges on current accounts were applied.

14th December, 2011
Central Bank concerned about certain bank charges
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A Central Bank inspection has raised a number of concerns with the way certain ‘out-of-order’ charges on current accounts were applied.

The inspection examined surcharge interest, referral/over limit fees and unpaid item fees, across 300 customer accounts in five banks. These charges are more likely to arise for customers who are in financial difficulty and who may be struggling to keep a positive balance on their current accounts, a statement from the Central...

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