Last month the AIB wrote to me that they were restricting the amount of money I could put in my deposit account. This is an old account for which they are changing the terms and conditions. I had to tell a pension provider to stop paying into AIB and use a different bank.
I went into the branch to discuss the reason behind their action but orders come form head office. The staff did not seem bothered that I was reducing the amount I put in to their bank.
We have the BOI closing branches and forcing people to use machines when many are not comfortable doing that. I should imagine accounts will be closed and money withdrawn.
Yesterday I had notice from Ptsb that my deposit account with them will have interest rates reduced from 4% to 0.2%. Obviously I will close the account just before the interest change.
Why are these banks apparently encouraging depositors to draw out their savings? I would have thought they needed deposits.
All I can imagine is that, government having virtual control of the banks, someone up there has decided depositors drawing their money out of the banks will stimulate the economy with their spending.
Does anyone have a less paranoid reason?
I went into the branch to discuss the reason behind their action but orders come form head office. The staff did not seem bothered that I was reducing the amount I put in to their bank.
We have the BOI closing branches and forcing people to use machines when many are not comfortable doing that. I should imagine accounts will be closed and money withdrawn.
Yesterday I had notice from Ptsb that my deposit account with them will have interest rates reduced from 4% to 0.2%. Obviously I will close the account just before the interest change.
Why are these banks apparently encouraging depositors to draw out their savings? I would have thought they needed deposits.
All I can imagine is that, government having virtual control of the banks, someone up there has decided depositors drawing their money out of the banks will stimulate the economy with their spending.
Does anyone have a less paranoid reason?