Wednesday October 28, 2020

Freedom of choice

It seems that the era of free banking is coming to an end, which will see consumers choose alternative ways to save money on their transactions, writes Emma Kennedy.

29th September, 2012
Ulster Bank has promised not to introduce current account fees before next July. Photo: Photocall

It doesn't seem that long since retail banks were clambering over each other to win favour with customers, with offers of free cash just for switching banks and attractive credit interest for money sitting in current accounts.

But the retail banking sector is hugely changed now. These days, the picture for consumers is a lot less rosy, with the perks being replaced by hefty current account fees.

Of the five current account providers - AIB,...

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