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New Bank in Ireland?

  • 10-10-2012 5:57am
    #1
    Marcin_diy
    Registered Users, Registered Users 2 Posts: 464 ✭✭


    Good Morning All.

    Have anyone heard anything about any new bank opening in Ireland?

    There is definitely some market to be won, not everyone In Ireland is bankrupt.
    I'm getting sick of our 4 or 5 banks we have here.
    There is no competition at all, all banks set their own rules and customers have no choice.

    I was BOI customer, had account with Ulster, now I'm stuck with AIB who charge for everything and increase their variable mortgage rates.

    I'd love to see some competition.

    My home country is 9 times bigger than Ireland, but there are ~30+ different banks, and competition is huge.
    If one bank announce any change on + for customers other banks follow changes.
    Majority of banks don't charge for most of things, internet banking is free, There are many options to change Mortgage provider and it is very simple - Customer can always switch bank and mortgage if competitor is offering better rates. Also saving accounts are much better - you can get 6.5% on saving accounts.

    I'm missing banks chases after customers.......


    So any news?


    I'm sure that 1st new bank in Ireland would attract many, many people sick with theit current banking provider. ...


Comments

  • #2
    Xavi6
    Registered Users, Registered Users 2 Posts: 40,902 ✭✭✭✭Xavi6


    Marcin_diy wrote: »
    There is no competition at all, all banks set their own rules and customers have no choice.

    If they all set their own rules then you do have a choice, i.e. one set of rules over another, same as anywhere.
    I was BOI customer, had account with Ulster, now I'm stuck with AIB who charge for everything and increase their variable mortgage rates.

    Why are you 'stuck'? You could still move on to one of the others.
    Majority of banks don't charge for most of things, internet banking is free,

    Internet banking is free with Bank of Ireland, and I'm sure others are the same.
    Also saving accounts are much better - you can get 6.5% on saving accounts.

    I'm sure your country also has a much better cash rate than Ireland.

    What are their mortgage rates out of interest? I'd say they're much higher than Ireland's, right?
    I'm missing banks chases after customers.......

    That's one of the reasons why Ireland is in the place it is.

    Out of interest, do you think it would make good business sense to set up in the current climate? If so who do you think should back it? The state, i.e. taxpayer, or someone else?


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