Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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68. To ask the Minister for Finance his views on whether a person on a low income such as a social protection disability payment should be charged for every bank transaction in a bank (details supplied) while others on higher incomes are charged little or no fees; his further views on whether this is social discrimination; and if he will make a statement on the matter. [36633/16]

Michael Noonan (Limerick City, Fine Gael)
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While I am not aware of the specific situation raised by the deputy, and cannot comment on individual customer cases, I would make the general point that customers can often find a financial product better suited to their usage needs by switching to a new product or indeed to another institution. Many banks offer a number of ways to reduce transaction fees, in addition to offering ways to bank free of account maintenance and transaction fees. Indeed the EU Payment Account Regulations will assist in this regard with the introduction of a basic bank account. In addition to assist with product comparisons, the Competition and Consumer Protection Commission has a lo-call advice helpline (1890 432 432) and has helpful comparison tools available on its website ().

As the Deputy will be aware, operational and strategic management issues in the Irish banks are solely a matter for the board and management of the relevant institution within the constraints imposed by their regulator, the SSM, and the law as it applies. Notwithstanding the fact that the State has a significant shareholding in a number of institutions, I have no function in their day-to-day activities.  The Relationship Framework Agreements define the arm's length nature of the relationship between the State and the banks in which the State has an investment; the relationship framework agreement for each institution can be accessed below:

AIB:

Bank of Ireland:

Permanent TSB: