Fianna Fáil TD for Laois-Offaly Seán Fleming has called on Bank of Ireland to immediately halt plans to increase cash handling fees for business account holders in May.
His calls come as a letter was issued to business account holders this morning informing them that there would be a 33% increase in charges for any business making cash lodgements or withdrawals.
Deputy Fleming explained, “For Bank of Ireland to announce this hike in charges, at a time when small businesses are struggling due to the COVID-19 crisis is absolutely unacceptable.
“Many small businesses receive some payments in cash, especially from those older customers who may not have access to cards or online banking. It’s completely unreasonable to expect businesses to now pay 80c on every €100 lodged or withdrawn, a massive increase from the current charge of 60c.
“In the midst of this outbreak, where small business owners have shown great leadership the bank must not proceed with this unjustified profiteering.
“I am calling on the bank to immediately suspend the planned increases and instead do what they can to support small businesses during this crisis,” he concluded.