Sneaky T&C's in New BoI 3 Year Deposit Product

[Gerry Canning]

Brendan and others mention Consumer Protection Codes that are underpinned (supposedly) by our Central Bank.
As an opinion, I do not trust Central Bank to police the Code. I do not believe they will enact Hard Sanctions for breeches of the Code.

In relation to our Banking Friends
The Consumer Protection Code 2012 under GENERAL PRINCIPLES state that Banks MUST,

{2.1 acts honestly,fairly and professionallyin the best interests of its customers and the integrity of the market;
2.3 does not recklessly,negligently or deliberately mislead a customer as to the real or perceived advantages or dis advantages of any product or service;
2.6makes full disclosure of all relevant material information ,including all charges in a way that seeks to inform the customer}

If the Banks have done this , there is no problem.
If they havn,t ,they either do not knowthe Code or know it won,t be enforced.
Take your pick?

 

[Lightning]

This warning re 3 year accounts has been on your Key post for a number of months. You warn to ask for the "growth" product.

Yeah, exactly. I added "Growth" to the top of the best buys post to try and make it clear that one should go for the "Growth" 3 year product and not the "Special Term" 3 year product.