Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

We probably need to consider stripping it out. Obviously, switching is becoming a more dominant feature. It should be and people should be encouraged to do it.

That takes me to my next point. In reality, how would the bank representatives speak to a friend in the pub? Let us suppose a friend has a mortgage with Bank of Ireland. The advice a bank representative would give to a friend over a pint would be to go to Ulster Bank, fix for two years and then come back to Bank of Ireland. Is that right? That is because Ulster Bank will pay €1,500 towards the cost of the legal fees. Over the two years, the customer will pay €2,800 less in interest. The bank representative could then advise the customer to take the family away for a nice holiday with the money saved.