Madam, - Am I alone in my anger at the latest move by Irish banks to further increase their already outrageous profit margins at the expense of the long-suffering public? I note on my last credit card bill the appearance of a cross-border handling fee for transactions made in the UK. This has been set at a flat rate of 1.75 per cent of the value of the transaction and has been introduced without so much as a murmur from my bank.
As I inwardly fume I ask myself how the banks ever managed before its introduction - and of course the answer is very nicely, thank you. Foreign exchange rates have always produced a bountiful dividend for our financial institutions but here, yet again, is another fine example of Rip-off Ireland Inc. Nice work if you can get it!
This latest wheeze deserves to take its place alongside other greats past and present such as the youth employment levy (Revenue Commissioners), public service obligations levy (ESB) and recurring charge for handset rental (Eircom). - Yours, etc,
JOHN BURNETT, Carrigaline, Co Cork.