Michael McGrath (Cork South Central, Fianna Fail)
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81. To ask the Minister for Finance if he will provide full details, for each bank, of maximum level of charges relating to certain products and services which have been approved by the Central Bank of Ireland under section 149 of the Consumer Credit Act 1995, and for each such charge; if he will confirm the current charge being levied by the bank concerned; and if he will make a statement on the matter. [15968/14]

Michael Noonan (Limerick City, Fine Gael)
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I, as Minister for Finance have no role in the regulation of bank charges in Ireland. The Central Bank approves maximum charges under Section 149 of the Consumer Credit Act, 1995.  The Central Bank has informed me that credit institutions have discretion in relation to the charges actually imposed, within the maximum levels approved.  Also, a credit institution can choose not to apply charges for which it has received approval for commercial or competitive reasons. These concessions are not subject to a Section 149 notification i.e. an institution may choose to apply such internal account structures at its own discretion and so the Central Bank has no power in this area to approve or reject such revisions.

The Central Bank does not publish data on the maximum charges approved for individual credit institutions under Section 149.

A Financial Product Comparison tool is available on the National Consumer Agency's website, , which consumers may consult to compare current fees imposed by credit institutions for various financial services products. Individuals may also consult information leaflets available in bank branches. 

All banks providing current accounts in Ireland are subject to the Central Bank's Current Account Switching Code, which is designed to make the process of switching current accounts easier and quicker and to offer protection and support for consumers when switching bank account. The Switching Code places obligations and time limits on both the old and the new bank when completing the switching process. Where accounts include credit facilities, such credit facilities will be subject to the credit assessment process applicable at the receiving bank.