Competition Authority to probe excessive bank charges
The authority will carry out a survey of the rates charged by Irish banks for overdrafts, personal loans and credit cards. The rates charged to business customers will also be examined.
The only research that has been carried out to date was by the Department of Finance in a report produced 18 months ago. The department’s report, which received no publicity at the time, found that Irish customers pay more for overdrafts, credit cards and unsecured personal loans than most other EU citizens.
