Dáil debates

Thursday, 22 September 2022

Ceisteanna Eile - Other Questions

Banking Sector

11:30 am

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

I agree that while 24% is a big change versus where we were earlier in the year, there remains a great deal that needs to be done. Nevertheless, while that means 76% of the accounts are still open, that does not mean all those accounts are still active. More than 600,000 new accounts have been set up in the three remaining banks, which points to consumers responding back to getting their accounts in order and getting ready to make the change.

I take the Deputy's point. We need to ensure that AIB, Bank of Ireland and PTSB do all they can to have the staff ready. I am aware of the concerns raised about this. At least one of the banks is planning to be open for four Saturdays in a row to get ready for this change, which shows the work that is under way, but the Central Bank and I will continue to engage in this matter because it is the biggest change to happen for many consumers of banking services in Ireland for a long time.

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