Customers face higher charges after bank restructuring

Banking customers look set to face an increase in charges following the Government's decision to restructure the banking sector.

Meanwhile, the Irish Bank Officials Association is seeking an urgent meeting with the Finance Minister Michael Noonan to discuss the impact the move will have on bank staff.

The Unite trade union said it will also be seeking meetings with the management of AIB, Bank of Ireland, EBS and Irish Life and Permanent and with the Finance Minister to discuss the move.

Charlie Weston, the Personal Finance Editor of the Irish Independent, said lower interest rates for deposits and higher charges on loans and credit cards appear inevitable.