Speaking following the release of new research into the cost of consumer banking, Deputy Seán Crowe encouraged all consumers to make themselves aware of day-to-day fees related to their current account.

A survey, carried out by the National Consumer Agency was released this week and found that 14% of current account users were unaware about whether or not they pay fees.

The Dublin South West Deputy said:

“Banking fees can become significant throughout the year.

“I think it’s vitally important that people make themselves aware about what they are charged for current account banking.

“Using a laser card and receiving cash back in store can often lower ATM fees.”

Deputy Crowe concluded:

“I would also urge people to shop around in an attempt to get the best deal from your bank. According to research, 57% of consumers have never sought a better deal for day-to-day banking and transactions.”