A reader contacted us to give out about Bank of Ireland. He is “astounded that they force you to agree that they can change the terms and conditions at any time just by putting a notice in a newspaper beforehand” and also “modify or discontinue services at any time without notice and not be liable.”

To his mind, it “sounds like they can do whatever they like, whenever they like, at no risk to themselves. Is this normal?” It is not normal but it is, unfortunately, legal.

Banks can change the terms and conditions, or their interest rates, as often as they like as long as they inform customers by “letter, electronic mail, telephone (including recorded message) or by an advertisement in an Irish daily or weekly newspaper.”

Bank of Ireland is one of a very select group which does bother to engage with its customers through any class of publicity campaign when it is doing things it knows will be unpopular – such as hiking interest rates or shutting down services. It does not communicate changes to the press and does the bare minimum in terms of advertising such changes.

When it has good news, however, it is very quick to issue press releases.