Billy Timmins (Wicklow, Fine Gael)

I am opposed to this resolution. There are many hidden charges in the banking system. The Taoiseach referred to the reduction in the charge on credit cards, which I welcomed. The Minister for Finance could do more to expose the hidden costs in the use of credit cards. Many people pay their bill rather than examining the small print. This should be more explicit. Regarding the use by elderly people of credit cards, in many areas of the country we do not have cashpoints or credit card facilities. This is an unfair mechanism.

The Opposition sent out wails of concern when this was mentioned in the budget speech. A comment was made earlier by a member of the Cabinet and I thought it was unbecoming of a Minister to respond in the manner in which he did. Perhaps the individual in question is out of touch with the people. The addition of a charge in respect of cheques is unwarranted because people use cheques on a daily basis.

My final point relates to bank drafts. For a number of years I have been urging the Minister for Finance to track down the uncashed bank drafts that are in existence. Banks are holding tens of millions of euro in uncashed bank drafts. The banks are aware of the identities of the owners of these drafts. In many instances, the people involved are deceased and there is no mechanism in place to deal with these drafts. The position is similar to that which obtained in respect of dormant accounts. When a person passes away and his or her estate is being processed, members of the legal profession never seek bank drafts, they only request statements relating to deposit accounts etc. I am aware of bank drafts that have lain unclaimed in bank vaults for a number of years. This is notwithstanding the fact that the banking authorities are aware that these moneys are outstanding to the estates of various individuals.

The Minister gave a commitment a couple of years ago that he would pursue this matter with the financial institutions. I raised it at the Joint Committee on Finance and the Public Service but, to date, nothing has happened. Will the Taoiseach give a commitment to follow up on this issue because some families are owed tens of thousands of euro by the banks and they are not aware of that fact?

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