Oireachtas Joint and Select Committees

Wednesday, 21 September 2022

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Banking Issues: Discussion (Resumed)

Photo of Neale RichmondNeale Richmond (Dublin Rathdown, Fine Gael) | Oireachtas source

The Minister alluded to the area of bank departures, particularly when it comes to both Ulster Bank and KBC Bank Ireland. Something that remains of concern, about which a number of people have contacted me, is with regard to switching. I am not talking about the switching of accounts, which the Minister mentioned, but everything that goes with it in terms of standing orders and perhaps direct debits to cover utility bills. Is the Minister satisfied that the banks and also the utility companies are doing enough to encourage and facilitate switching to make sure there is not a cliff edge for customers of those banks, particularly elderly customers who perhaps are not as savvy with digital banking? Is there anything else the Government could or potentially should be doing to support this?

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