Banks battle for customers

IRISH bank customers can expect an intense battle for their current account business during 2006, Permanent TSB chief executive Denis Casey said yesterday at the opening of the bank’s 102nd branch on Galway’s Tuam Road.

“This year alone, we expect to entice over 45,000 customers to move their current account to us as a result of our decision to waive normal transaction charges even on overdrafts,” he said.

“Already some of the other banks are launching spoiler products to try to discourage people from switching to us and we expect this to accelerate in the coming year.”