Thursday, 16 December 2021
Department of Finance
111. To ask the Minister for Finance if he will direct banks operating in the State to provide customers with written banking statements on a monthly basis, if requested by the customer. [62342/21]
All credit institutions in Ireland are independent commercial entities and decisions in relation to the provision of bank statements are made by the boards and management of individual banks.
I am advised by the Central Bank that Chapter 6 of the Consumer Protection Code 2012 ‘Post-sale Information Requirements’ sets out the requirements that regulated entities must follow when providing statements to consumers in relation to deposit, credit and investment accounts, including the consumers right to receive statements on paper.
Provision 6.2 of the Code sets out that in relation to these accounts, a regulated entity must inform a consumer that he or she may request the statements to be provided on paper and, if requested by the consumer, the regulated entity must provide these statements on paper to the consumer.
The Code provides that the regulated entity must provide the consumer with these statements at least annually.
The Deputy may wish to note that the Central Bank is currently conducting a review of the Code and a public consultation on the Central Bank’s proposals for amendments will take place as part of the review giving all stakeholders an opportunity to make submissions.