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Friday 22 September 2023 Dublin: 12°C

# Banking

Last month
August 2023
Gardaí say they received more than 40 calls from public over rush on ATMs
Gardaí say there was no national directive to police ATMs but questions have been raised about their presence at some machines.
AIB apologises for letters to mortgage holders raising repayments
Some mortgage holders were told they were under-charged on their mortgage when they were with Ulster Bank and that their payments would increase.
BOI and AIB have made €1 billion this year. Is it time to revisit the decision to privatise them?
A report by
Paul O'Donoghue
The State has been an uneasy shareholder ever since the taxpayer-funded bailout during the financial crisis.
This year
Now versus the 1980s: How interest rates impact household budgets
Paul O’Donoghue looks at the comparisons between the generations.
AIB Group increases mortgage rates in response to ECB hikes
Fixed rates will increase by between 0.15% and 0.70%, effective from tomorrow
Analysis: Government and the Central Bank can take steps to free the 60,000 mortgage prisoners
Mark Coan of Money Sherpa says more needs to be gone at the regulatory level to help those in insecure mortgage positions.
Poll: Are you in favour of the automatic-enrolment pension scheme?
Government is currently considering recommendations regarding the plan.
The Explainer: How is Revolut changing and what does it mean for its customers?
Joining us this week is Daragh Cassidy of to look what’s next for Revolut – is it on track to dominate Irish banking, or will it remain nothing more than a handy app for splitting a bill? Should we start viewing it as a traditional bank? And what do the latest changes mean for its customers?
Credit Suisse collapse could have 'easily' caused global crisis - head of Swiss central bank
The major Swiss bank was hit by the fall of lenders in the US last month.
Over $68 billion withdrawn from Credit Suisse in lead-up to UBS rescue
Switzerland’s longtime second largest bank saw 61.2 billion Swiss francs withdrawn in the first quarter alone.
Revolut launches joint accounts and group chat feature in new app update
Revolut also announced last month that it is launching car insurance in Ireland.
Bank of Ireland apologises over error in transferring over around 35,000 KBC mortgages
The mortgage “start date” for a number of mortgages transferring from KBC to BOI was “incorrectly inputted into our systems”.
Ireland ranked sixth largest exporter of financial services in the world
The figures are outlined in a new report by the Federation of International Banks in Ireland.
Consumers are missing out on savings by not 'shopping around' for banks and loans, says ESRI
“People are just not shopping around as much as they could and it’s costing them a lot of money,” said Professor Pete Lunn, Head of the Behavioural Research Unit at the ESRI.
Record high of almost €17.9 billion spent using contactless payments last year
The last quarter of 2022 saw three million contactless payments per day valued at an average of €53 million.
Bank shares drop as contagion fears return
The focus has now turned to another major European lender, Deutsche Bank, whose shares nosedived by as much as 14% today.
EU leaders insist eurozone banking sector is stable as shares plunge
Shares in several German, French and British banks have tanked.
The Explainer: What's behind the recent wave of bank failures?
Brooke Masters from the Financial Times joins us on this week’s episode to explain exactly what is going on. What caused the collapse of Silicon Valley Bank? How did it cause ripple effects across the world? And although we’re hearing a lot about venture capital, how worried should Joe and Jane Doe be about their savings?
Poll: Are you worried about a global banking crisis?
Heavy uncertainty has gripped the banking sector since Silicon Valley Bank said it needed to raise money to stay afloat.
London stock markets fall amid Credit Suisse takeover and heavy uncertainty in banking sector
Swiss authorities announced yesterday that UBS would acquire its smaller rival Credit Suisse.
UBS buys troubled Credit Suisse bank for over $2 billion
The event came after a day of talks at the finance ministry on the future of Credit Suisse and a rejected offer from UBS of $1 billion.
European Central Bank hikes interest rates for sixth time since last summer
The base interest rate in Ireland will now rise to 3%.
Credit Suisse to borrow €50 billion from Swiss central bank after share price plunge
Credit Suisse plunged and dragged down other major European lenders in the wake of bank failures in the US.
Biden to seek tougher banking regulations, as managers of Silicon Valley Bank are to be fired
The UK arm of SVB has been sold to HSBC for a nominal £1 in a rescue deal announced this morning.
Financial expert: 'Never give up your tracker' may not be the best advice anymore
Mark Coan of moneysherpa has some advice for those on a tracker mortgage.
AIB says technical issue resolved after customers report difficulties accessing online banking
The bank had said some customers were “experiencing intermittent technical issues with our mobile app and internet banking”.
One in eight Ulster Bank and KBC customers are yet to open a new account elsewhere - survey
68% of customers have either opened a new account or plan to use an existing account in another bank.
Last year
Permanent TSB becomes latest bank to raise interest on fixed rate mortgages
The increases will range from 0.05% to 0.9% depending on a range of factors.
Ulster Bank to begin freezing current and deposit accounts from today
The bank announced its withdrawal from the Irish market in February.
Ulster Bank and KBC customers urged to update insurance before banks withdraw
Insurance Ireland has said that policies could lapse if customers don’t update their direct debits.
Finance Committee hears update from KBC and Ulster Bank ahead of market withdrawal
Ulster Bank told the committee that around 1,000 accounts are currently on track to be frozen from 11 November.
Mortgage customers 'frustrated' over wait times to switch lenders amid interest rate hikes
There has been a significant increase in applications over the last 12 months, brokers have said.
One customer started his application in July and still has not received a loan offer from the lender he wants to switch his mortgage to, Michelle Hennessy reports.
Brokers have said the exit of Ulster Bank and KBC from the market has left other lenders struggling to keep up with rising demand.
Ulster Bank extends first account closure deadline until 4 November
The bank announced its withdrawal from the Irish market in February.
Explainer: Why the UK's chaotic financial markets forced the Bank of England to step in
The Bank intervened to try to bring surging yields in government bonds under control as they spiralled higher.
Most customers leaving Ulster Bank and KBC haven't transferred direct debits
The two banks have been urging customers to get their accounts in order.
Mortgage holders could save thousands by switching when fixed rate ends - consumer watchdog
The CCPC told the Department of Finance that it is concerned by the “impending increase” in the concentration of Ireland’s retail banking sector.
AIB apologises to customers over binned cashless branch strategy
The bank contacted account holders across Ireland today to confirm that cash services won’t be withdrawn from 70 branches.
Ulster Bank to write to personal credit card holders to remind them to close accounts
Ulster Bank credit cards will no longer work from March 2023.
Almost 300,000 new current accounts have been opened this year, figures show
The figures indicated that Ulster Bank and KBC current account customers are heeding advice to switch banks.
Cash is crucial to victims of domestic abuse or coercive control, says Women's Aid
AIB this week said its plan to go cashless in 70 branches was a ‘mistake’.