Current account war ends as Permanent TSB cuts rates

Permanent TSB customers will only get a maximum of €2.81 in interest on their current accounts per year following the bank’s decision to slash the rate it pays on credit balances last week.

16th October, 2010

Permanent TSB customers will only get a maximum of €2.81 in interest on their current accounts per year following the bank’s decision to slash the rate it pays on credit balances last week.

The move has effectively put an end to competition for rate sensitive current account customers, which was triggered in 2007whenHalifax and Permanent TSB began offering rates as high as 10 per cent in an effort to encourage customers of other...

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