Why are commission free FX ads not banned?

Discussion in 'Banking, credit cards, etc' started by CiaranT, May 13, 2018.

  1. CiaranT

    CiaranT .

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    4,598
    Just passed an An Post branch with big posters in their window advertising "commission free FX".

    The advert is obviously beyond misleading. An Post charge very hight FX margin fees.

    Who regulates this? Why are An Post allowed run such a misleading advertising scheme? How can we stop these type of ads?
     
  2. Marc

    Marc Frequent Poster

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    Last edited: Jun 7, 2018
    .
     
    Last edited: Jun 7, 2018
  3. Sarenco

    Sarenco Frequent Poster

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    I suppose you could lodge a complaint with the Advertising Standards Authority for Ireland.
     
  4. Brendan Burgess

    Brendan Burgess Founder

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    Hi Ciaran

    I agree fully with you and this has annoyed me for some time.

    But don't other banks do the same? "No commission when you change back foreign currency you have bought here" ?

    Brendan
     
  5. CiaranT

    CiaranT .

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    Thanks. Is that ASAI the best route?

    Yeah, others do similar misleading adverts (but An Post seem to be the most prevalent at this) but that obviously does not make it right.

    This practice needs to be stopped.
     
  6. Sarenco

    Sarenco Frequent Poster

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    I think so CiaranT.

    I know the Central Bank has to approve charges imposed by Bureau de Change under the Consumer Credit Act but your compliant seems to go beyond the charges imposed.