Fee increases from Bank of Ireland have been branded as a “further slap in the face”, People Before Profit claimed today.
PBP TD Richard Boyd Barrett called on the Minister for Finance to intervene in order to stop the charges.
Bank of Ireland is increasing customer charges to a monthly flat fee of €6.
But Mr Boyd Barrett said this increase is a “slap in the face to people” who are already hard pressed during the Covid pandemic, with many losing their jobs or income.
The increases are a sign of “rip-off Ireland” rearing its head again, he said.
While it is understood that 40% of Bank of Ireland customers are set to have to pay additional charges for banking services, the deputy said that it also would not be lost on customers that the bank made profits of over €750million last year.
Mr Boyd Barrett said: “Bank of Ireland in increasing these charges are very clearly and blatantly trying to make up for a shortfall in profits by squeezing their customers for every last ounce that they can.
“Yet again we see rip-off Ireland rear its ugly head - yet another slap in the face of ordinary people in this country.
“This is really a shockingly cynical and underhanded move by the bank. It will not be lost on people that the State is a shareholder in this bank and that the Irish people were forced to pump money into the banking system to bailout these banks for their actions in the past.”
Mr Boyd Barrett added: “When people also hear that this bank still made profits of over €750million last year despite a shortfall of 19% from the previous year, we can see that this is just the bank trying to milk more and more money out of their customers in order to bolster profits.
“The Minister for Finance must intervene to stop these charges.”
