Bank of Ireland Announces Unethical New Fees

Despite my intentions to ignore the recession frenzy, more and more I am writing about this economic nastiness. The arts, of course are affected by this nastiness and really, I cannot imagine an area that isn't.

Drawing my attention (and seething anger) today is Bank of Ireland's announcement that it has decided to wrangle a few more coppers from its customers by imposing new fees on current account holders. As a loyal Bank of Ireland customer for about 20 years now having graduated into this sh*tstorm, I am excited to learn that these new fees will affect mostly the less well off customers. The fees will only affect those who cannot maintain a constant balance of €3000, those who deposit less than €1000 per month or those make fewer than nine payments by phone or online banking. Financial fashionistas will be glad to see that fees are very on-trend in that they are likely to affect mostly those who are on low income or unemployed. Perhaps BOI were inspired by the recent Budget cuts to social welfare cuts and reduction of the minimum wage.  All this from a bailed out bank. They have seemingly developed a taste for public money and unethical practice.

Understandably the bank is required to try and secure extra revenue, but this unethical move is telling of the socio-myopic mindset of those who make the decisions.

In the New Year I shall be looking for a new bank.

Till then, FU-BOI!

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