Fears for consumers if bank fee controls ease

CONSUMERS could go deeper into debt if the Government eases controls on fees for overdrafts, bounced cheques and unpaid debits, watchdogs said last night.

The Consumers’ Association of Ireland fears a free-for-all among the banks if a cap is lifted on the fees they can charge consumers for services, including overdrafts.

While Ireland’s main banks offer consumers free banking for cash withdrawals and payments they do levy hefty charges for extras.