Minister Dermot Ahern T.D. welcomes abolition of cross-border fees
The Minister for Foreign Affairs, Dermot Ahern T.D., has welcomed today's announcement by National Irish Bank and its sister company Northern Bank that they are abolishing fees for electronic cross-border transfers between customer accounts.
Minister Ahern said: "This is a very welcome announcement on an issue on which I have been engaged for some considerable time. It will bring practical benefit to families on both sides of the border, and that is greatly to be welcomed. I very much hope that other banks will now follow suit.
At my North-South Ministerial Council meeting with First Minister Paisley and Deputy First Minister McGuinness in Dundalk on October 30th, we agreed that a Working Group should be convened to examine cross-border banking issues, including transaction charges. It is expected that this Group will hold its first meeting before the end of the year. We are determined to implement the Programme for Government commitment to campaign for the complete removal of North-South cross-border telecoms and bank charges.
Today's announcement is an important first step in the development of more efficient and cost effective cross border banking services on the island. It also recognises the huge potential for the further development of cross border trade and, most importantly, puts consumers first, North and South."
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