Sunday 25 August 2019

Banks reassure their customers

 

Consumers are worried that Brexit will have a negative impact on their day-to-day banking. Photo: AFP/Getty Images
Consumers are worried that Brexit will have a negative impact on their day-to-day banking. Photo: AFP/Getty Images
Charlie Weston

Charlie Weston

Banks have assured consumers that a crash-out Brexit will have no impact on their mortgage and stressed that any savings in an Irish bank will continue to be protected by the State's Deposit Guarantee Scheme.

Consumers are worried that Brexit will have a negative impact on their day-to-day banking.

But the Banking and Payments Federation Ireland (BPFI) said that if the UK pulls out of the European Union, banking services will continue here as normal, such as existing debits/standing orders, ATM services, domestic debit and credit payments.

However, BPFI warned that people buying from UK suppliers may be faced with higher taxes or tariffs.

The banking body has a frequently asked questions section on its website at www.bpfi.ie.

Irish Independent

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