Arthur Spring (Kerry North-West Limerick, Labour)
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Can we get a report back on that? It is inequitable.

I imagine we would not all be up to speed on the cost of clearing a cheque, using an ATM, having a credit card, and having direct debits and standing orders run out of a current account. If someone walks into a supermarket he or she can see displayed how much it will cost to purchase an item or conduct a transaction. That is the case with every other transaction. When one walks into a bank, however, that is not apparent. I find that in general - people might contradict this - consumers are not aware of what their bank transactions are costing them. We all get statements from banks but they do not detail the fees we are being charged. The other side of the bank statement should detail cheque or ATM transaction costs.

That is consumer protection. More important, when one walks into the bank, as most of us still do, it should be stated in black and white that it might be more beneficial to one's self or one's business to conduct fewer transactions in certain ways and more in others. It could be a case of making electronic payments rather than writing cheques. I am concerned about the lack of knowledge. The banks would serve people far better if they displayed costs in a transparent manner.