Bank customers ‘not overcharged’

Despite claims by the business body Isme that banks are gouging customers with charges, the Central Bank does not believe that Irish customers are being overcharged.

Speaking at the Oireachtas Joint Committee on Finance, the director of consumer protection, Bernard Sheridan said that despite hikes in fees of 165% and 250% by the two pillar banks, he didn’t believe that Irish consumers or business people were being unfairly treated by the banks.

“Our hands are tied to some extent in relation to some charges but not in relation to the majority of charges,” he said.