Sir, - I recently received a request from a branch of Ulster Bank for an "arrangement fee" to have my overdraft facility renewed. As an overdraft carries penal interest rates I queried why a second fee had to be paid.
The bank informed me that the Director of Consumer Affairs agreed to this arrangement. Just as shops sell goods surely banks sell money so why should banks be allowed to charge twice.
Would the Director of Consumer Affairs think it reasonable for shops to sell goods and then charge another fee for having these goods available? - Yours, etc.,
Sandy O Driscoll, Sweetmount Avenue, Dublin 14.