Sir, – The media is awash with content bemoaning the current inflation crisis and Government actions to address it.
Several days ago, I received correspondence from my bank, Permanent TSB, informing me that as of next month there will be fee increases on my business current account for routine transactions including teller, ATM and account maintenance, these increases ranging from 40 per cent at the lower end to 175 per cent at the higher end.
Yes, that’s right, an increase of 175 per cent.
I am further informed that the bank is keeping its charges “as competitive as possible” and if I choose not to accept these charges I can, of course, close my account.
Permanent TSB is majority owned by, yes, you guessed it, the Government.
Perhaps if the same Government was serious about inflationary pressure it might look at this fleecing of the business customer by the banks which they own and whose customers have already been fleeced several times over to bail them out in the not too distant past. – Yours, etc,
MICHAEL JEFFERS,
Naas,
Co Kildare.