Insurance brokers call for ban on banks' monitoring of customer direct debits

Efforts are being made to stamp out what is being deemed as "unfair marketing" towards banking customers.

The Professional Insurance Brokers Association - or PIBA - wants new rules to be introduced to prevent financial institutions from monitoring clients' account transactions.

The group said banks could check customers' direct debit payments and offer similar services in areas such as insurance.

PIBA CEO Diarmuid Kelly said the practice invaded people's privacy and should be banned.

"Our members have complained to us about this numerous times and it seems to have stepped up in recent months, as the banks use it as a way of acquiring revenue," he said.