Mr. Gavin Kelly:

The current pricing on our current accounts was brought in three or four years ago. It looked at the cost to the bank for transactions and set an appropriate fee for those transactions. We charge 1 cent for contactless transactions, 10 cent for a Visa debit transaction at point of sale that is not contactless, and 60 cent for a teller transaction in-branch. We believe that the price for the mix of services we provide for those transactions represents very good value. On average a current account customer pays around €60 for a year's worth of banking. On top of that there are various concessions, meaning that around 50% of our personal current account base do not pay those transactional charges at all.