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Dublin: 3 °C Monday 11 November, 2019
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Credit unions across Ireland roll out new current account service

115 branches have begun rolling out the service today under the currentaccount.ie brand.

Image: currentaccount.ie

DOZENS OF CREDIT unions around Ireland have rolled out a new current account service. 

115 branches have begun rolling out the service today under the currentaccount.ie brand. 

Members who sign up for the current accounts will be able to avail of a Mastercard debit card with the contactless feature. 

Those with current accounts will be able to use direct debits, standing orders and overdrafts.

A monthly fee of €4 applies to all current accounts. 

Joint accounts can be opened at participating credit unions. 

Consumer site Bonkers.ie has said today’s announcement is “unsurprising, if a little overdue”. 

“This new account offers little new and its pricing isn’t overly competitive,” it said. 

However, the charging structure is fairly simple and straightforward so customers should at least be able to know what they’ll be hit with in terms of fees each quarter. But the account won’t really be suitable for those who prefer cash over card payments. 

“The Credit Union is known countrywide for its excellent customer service, friendly approach to doing business, and is one of the most trusted brands, let alone financial institutions, in the country,” it said. 

“This means the account should still do well, despite not offering anything particularly new or innovative.” 

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