Dáil debates

Thursday, 10 July 2014

Strategic Banking Corporation of Ireland Bill 2014: Second Stage (Resumed)

 

1:30 pm

Photo of Shane RossShane Ross (Dublin South, Independent) | Oireachtas source

Yes. We will find out later today for sure, but I think it can do it.

I will not get around to my main points, but my second story illustrates a similar issue and I will tell it quickly. I encountered an instance of someone with a dollar account. That is perfectly legal, but the currency it was most difficult and expensive to get from AIB, despite holding that dollar account was dollars. If one holds a dollar account in AIB, one does not have a hope of getting dollars. One must go to the bank, change one's dollars into euros and then change them back into dollars because that is "the system". "The system" is also how this House operates. If "the system" says one must do something, that is it. If one wants to change dollars into Swiss francs, Australian dollars or sterling, one is not even charged once. If one wants to withdraw dollars, one gets charged twice. There is still this sort of rip-off culture in the banks.

I have very little time to discuss SMEs, but I welcome this attempt to address them. It is inadequate in many ways, but it recognises and addresses the problem and the failure of the other banks.

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