Consumer and financial experts say regulators should urge RaboDirect to consider extending its notice period beyond May because of the unprecedented effects its decision to shut its €3bn savings operation will have on its 90,000 customers.

The Central Bank should urge RaboDirect to consider extending its notice period beyond May because of the unprecedented effects its decision to shut a €3bn savings operation will have on its 90,000 Irish customers, consumer and financial experts have warned.