Dáil debates

Thursday, 28 April 2022

Ceisteanna Eile - Other Questions

Banking Sector

10:10 am

Photo of Seán FlemingSeán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

I understand what the Deputies opposite are saying. As I said earlier, there are regular meetings with the Department of Finance about this process. I spoke to Ms Derville Rowland on the matter just a fortnight ago. Everybody in the Department and at the Central Bank, which will be at the forefront of facing these issues in conjunction with the banks, understands the issue. Banking & Payments Federation Ireland is currently sourcing a provider for a media campaign to inform customers on the actions required to move their current accounts if they currently hold an account with either Ulster Bank or KBC Bank. It is keeping the Department informed regarding the campaign and other matters at monthly meetings with the Department. A number of these meetings are taking place on an ongoing basis. A media campaign is going to be necessary and when people get the relevant letters, I ask them to respond so the switchover can be done on an orderly basis. I stress that the overriding point is that this situation will be solved in an orderly manner.

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