Make the banks work for your hard-earned money
IN the coming year, the main banks are going to target you. Desperate to cut costs and recapitalise themselves, the banks are going to increase the costs of maintaining a current account.
Two lenders, Danske and ACC, have already moved out of the personal finance market and the majority of customers are now with AIB, Bank of Ireland and Ulster Bank. Two others, Permanent TSB and KBC Bank, are also in the personal finance market and trying to build their customer base.
Researchers have long noted that bank customers tend to remain loyal to the bank they first start with -- or maybe it would be more truthful to say that they are too lazy to move to a new financial institution.