Michael Fitzmaurice (Roscommon-South Leitrim, Independent) | Oireachtas source

This is a problem that has arisen over the last two months, where banks have said to their customers, "We are moving from cheque books and we are going to give you this card". Businesses accepted those cards in good faith, believing there would be the normal charge. There is a duty on politicians to explain to businesses what is going on. We do not want to see businesses losing money because some of them are on their knees. I am not talking only about building a house. I am talking about a person going into a mart and paying €10,000, €12,000 or €15,000 for cattle, or about someone paying their local merchant every month for meal.

This is the problem that has arisen. If a person uses the card, it is charged at 1.5% of the total transaction. If it is done over the telephone, they are charging up to 2%. This is coming from banks that we, as the taxpayers, own 99% of. I think there is a duty on us to encourage people to continue to use their chequebooks until this mess is sorted out. There is only one way the banks learn or get the message. If people do not use the item they are given, and if they stay on the same path they were on then sooner or later the banks will get the message. This has to come from us, as politicians.

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