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Eire Banking System v UK Banking System

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  • Eire Banking System v UK Banking System

    This thread is to be used to compare bank charges applied on Irish bank accounts with those on UK Bank Accounts.

    In most cases the banks will also operate in the UK, look what happens to the charges.


    Bank of Ireland

    Ireland
    http://www.bankofireland.ie/includes...ges_010708.pdf

    UK
    http://www.bank-of-ireland.co.uk/docs/Personal.pdf

    AIB Anglo Irish Bank
    Ireland

    AIB -

    UK
    GB Business Finance


    Permanent TSB
    Ireland
    http://www.permanenttsb.ie/pdf/Perso...ng_charges.pdf


    UK
    No equivalent

    Ulster Bank

    Ireland
    http://www.ulsterbank.ie/content/ri/...d_Interest.pdf


    UK
    http://www.ulsterbank.co.uk/content/...d_interest.pdf



    National Irish Bank NIB
    Ireland
    http://www.nationalirishbank.ie/Link...AndCharges.pdf

    UK
    No equivalent



    Comparison spreadsheet next!
    Last edited by Tools; 24th September 2008, 10:51:AM. Reason: broken ;links
    "Although scalar fields are Lorentz scalars, they may transform nontrivially under other symmetries, such as flavour or isospin. For example, the pion is invariant under the restricted Lorentz group, but is an isospin triplet (meaning it transforms like a three component vector under the SU(2) isospin symmetry). Furthermore, it picks up a negative phase under parity inversion, so it transforms nontrivially under the full Lorentz group; such particles are called pseudoscalar rather than scalar. Most mesons are pseudoscalar particles." (finally explained to a captivated Celestine by Professor Brian Cox on Wednesday 27th June 2012 )

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  • #2
    Re: Eire Banking System v UK Banking System

    http://www.oanda.com/convert/classic

    Here is a currency converter in case anyone wants to work out euros to GBP

    Comment


    • #3
      Re: Eire Banking System v UK Banking System

      Quick snapshot comparison of banks with UK and Eire operations.




      Last edited by Celestine; 17th May 2011, 22:02:PM.
      "Although scalar fields are Lorentz scalars, they may transform nontrivially under other symmetries, such as flavour or isospin. For example, the pion is invariant under the restricted Lorentz group, but is an isospin triplet (meaning it transforms like a three component vector under the SU(2) isospin symmetry). Furthermore, it picks up a negative phase under parity inversion, so it transforms nontrivially under the full Lorentz group; such particles are called pseudoscalar rather than scalar. Most mesons are pseudoscalar particles." (finally explained to a captivated Celestine by Professor Brian Cox on Wednesday 27th June 2012 )

      I am proud to have co-founded LegalBeagles in 2007

      If we have helped you we'd appreciate it if you can leave a review on our Trust Pilot page

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      Comment


      • #4
        Re: Eire Banking System v UK Banking System

        I just had a chat with the customer relations dept in Ireland for Bank of Ireland.

        Rhona in Dublin was aware of the difference and positively raved about the high standards in the Irish banking sector. They have an independent regulator with very tough rules. She thought the difference was caused by 'competition' and that the UK 'historically' always had these charges. grrrrr She couldn't specify what difference in competition exists between the UK and Eire to explain treble the cost to the consumer. She wished us good luck in our investigation and was very helpful.

        When skimming through the various Irish sites earlier, I was struck by how transparent and easy to understand their charging structure appears.

        I just spoke with Sandra at the UK office of Bank of Ireland. She has asked me to email the details of my query and sounded rather uncomfortable at the questions about charges.

        I will let you know her reply when I receive it............
        "Although scalar fields are Lorentz scalars, they may transform nontrivially under other symmetries, such as flavour or isospin. For example, the pion is invariant under the restricted Lorentz group, but is an isospin triplet (meaning it transforms like a three component vector under the SU(2) isospin symmetry). Furthermore, it picks up a negative phase under parity inversion, so it transforms nontrivially under the full Lorentz group; such particles are called pseudoscalar rather than scalar. Most mesons are pseudoscalar particles." (finally explained to a captivated Celestine by Professor Brian Cox on Wednesday 27th June 2012 )

        I am proud to have co-founded LegalBeagles in 2007

        If we have helped you we'd appreciate it if you can leave a review on our Trust Pilot page

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        Comment


        • #5
          Re: Eire Banking System v UK Banking System

          Ireland has The Financial Regulator to monitor financial products.

          http://www.financialregulator.ie/

          History

          The Irish Government set up the Financial Regulator on May 1st, 2003 to regulate financial services firms in Ireland and to protect consumers in their dealings with those firms. The Regulator's main tasks are to:
          • help consumers to make informed decisions on their financial affairs;
          • monitor financial services firms and make sure they deal fairly with consumers; and
          • foster sound, growing and solvent financial institutions which give consumers confidence that their deposits and investments are secure.

          The Financial Regulator is a distinct component of the Central Bank and Financial Services Authority of Ireland (CBFSAI) and is an independent body. Find out more about what the Financial Regulator regulates.



          Introduction

          The Financial Regulator is responsible for the development of codes of conduct and other requirements applicable to regulated entities authorised by or registered with the Financial Regulator.
          In March 2004 the Financial Regulator commenced a review of existing codes in order to unify and develop the conduct of business requirements of these codes under one Consumer Protection Code (the Code). This review was carried out with the aid of two public consultations. The Code was published on 25 July 2006.
          The Code’s principal aims are to:
          • ensure a consumer-focussed standard of protection for buyers of financial products and services;
          • ensure that there is the same level of protection for consumers regardless of the type of regulated entity they choose to deal with; and
          • facilitate competition by contributing to a level playing field.

          The introduction of a consumer protection code is a key foundation to fulfilling our consumer mandate.
          The Financial Regulator also engaged in two public consultations on another consumer protection matter - minimum competency requirements. This consultation process began in April 2004. The minimum competency requirements were published on 25 July 2006.
          "Although scalar fields are Lorentz scalars, they may transform nontrivially under other symmetries, such as flavour or isospin. For example, the pion is invariant under the restricted Lorentz group, but is an isospin triplet (meaning it transforms like a three component vector under the SU(2) isospin symmetry). Furthermore, it picks up a negative phase under parity inversion, so it transforms nontrivially under the full Lorentz group; such particles are called pseudoscalar rather than scalar. Most mesons are pseudoscalar particles." (finally explained to a captivated Celestine by Professor Brian Cox on Wednesday 27th June 2012 )

          I am proud to have co-founded LegalBeagles in 2007

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          Comment


          • #6
            Re: Eire Banking System v UK Banking System

            Introduction

            On 1 November 2004, the Minister for Finance appointed 20 members to the Financial Services Consultative Consumer Panel ("Consumer Panel"), consisting of personal, professional and small business consumers of financial services, consumer advocates and activists, and experienced individuals from industry, and the banking, academic and media communities.
            Functions of the Consumer Panel
            The functions of the Consumer Panel are set out in detail in the section on the Functions of the Panel, and may be summarised as follows:
            • monitoring the performance by the Financial Regulator of its functions and responsibilities under this Act;
            • providing the Financial Regulator with comments with respect to the performance of its functions and responsibilities;
            • providing the Financial Regulator with comments and suggestions with respect to the performance of the financial services industry;
            • when requested to comment on policy and regulatory documents issued, or to be issued, by the Financial Regulator;
            • to comment on the Financial Regulator's draft estimate of income and expenditure and consult with the Minister for Finance before he approves the draft estimate of income and expenditure; and
            • providing the Financial Regulator with suggestions for initiatives that, in the Panel's opinion, the Financial Regulator should take with respect to the performance of its functions and responsibilities.

            The Financial Regulator must consult each Panel before issuing a policy or regulatory document. The Financial Regulator is to provide the Consumer Panel with such administrative services (including technical and legal advice) as the Financial Regulator believes are necessary for the Panel to exercise its functions.
            The Financial Regulator must arrange for the publication of the Consumer Panel's annual report; comments of the Panel; reports of meetings and advisory groups; reports issued/commissioned by the Panel or advisory groups; Panel's rules of procedure; and any reasons given to the Panel by the Financial Regulator for not taking into account any comments of the Panel (where requested by the Panel to publish).
            There are four sub-groups of the Consumer Panel:
            • Codes Sub-Group
            • Information and Education Sub-Group
            • Monitoring Sub-Group
            • Suggestions Sub-Group

            Codes Sub-Group : reviews and comments on the Codes of Conduct in place.
            Information and Education Sub-Group : led by Raymond O'Rourke, looks at consumer information and education initiatives and liaises closely with the Consumer Information Department of the Financial Regulator.
            Monitoring Sub-Group : led by John Maher, is primarily involved in assessing, monitoring and commenting on the performance of the Financial Regulator. This is a specific function of the Consumer Panel under the legislation.
            Suggestions Sub-Group : led by Sean O'Sullivan, is involved in providing suggestions for initiatives for the Financial Regulator to take. Again, this is a specific legislative function of the Consumer Panel.
            "Although scalar fields are Lorentz scalars, they may transform nontrivially under other symmetries, such as flavour or isospin. For example, the pion is invariant under the restricted Lorentz group, but is an isospin triplet (meaning it transforms like a three component vector under the SU(2) isospin symmetry). Furthermore, it picks up a negative phase under parity inversion, so it transforms nontrivially under the full Lorentz group; such particles are called pseudoscalar rather than scalar. Most mesons are pseudoscalar particles." (finally explained to a captivated Celestine by Professor Brian Cox on Wednesday 27th June 2012 )

            I am proud to have co-founded LegalBeagles in 2007

            If we have helped you we'd appreciate it if you can leave a review on our Trust Pilot page

            If you wish to book an appointment with me to discuss your credit agreement, please email kate@legalbeaglesgroup. com

            Comment


            • #7
              Re: Eire Banking System v UK Banking System

              In Eire The Financial Regulator is funded 50% by industry 50% from the Exchequer.

              The FSA is funded 100% by industry and has no formal consumer panel.

              Here is the FSAs latest report.

              http://www.fsa.gov.uk/pubs/annual/ar07_08/ar07_08.pdf

              And their 'Business Plan Milestones' Document.

              http://www.fsa.gov.uk/pubs/plan/fsa_milestones08_09.pdf


              hmmmmmmm bit of a cultural difference.
              "Although scalar fields are Lorentz scalars, they may transform nontrivially under other symmetries, such as flavour or isospin. For example, the pion is invariant under the restricted Lorentz group, but is an isospin triplet (meaning it transforms like a three component vector under the SU(2) isospin symmetry). Furthermore, it picks up a negative phase under parity inversion, so it transforms nontrivially under the full Lorentz group; such particles are called pseudoscalar rather than scalar. Most mesons are pseudoscalar particles." (finally explained to a captivated Celestine by Professor Brian Cox on Wednesday 27th June 2012 )

              I am proud to have co-founded LegalBeagles in 2007

              If we have helped you we'd appreciate it if you can leave a review on our Trust Pilot page

              If you wish to book an appointment with me to discuss your credit agreement, please email kate@legalbeaglesgroup. com

              Comment


              • #8
                Re: Eire Banking System v UK Banking System

                And the UK's regulator...

                3. The FSA
                The FSA, however, is not a commercial organisation and so billing of legal advice
                doesn’t happen. The FSA is an independent body which regulates the financial services
                industry in the UK. The reform of financial services regulation in the UK and the creation
                of a new regulator, chaired by Howard Davies, were announced by the Chancellor of the
                Exchequer on 20 May 1997. The Chancellor announced his decision to merge banking
                supervision and investment services regulation into the Securities and Investments Board
                (SIB). The SIB formally changed its name to the Financial Services Authority in October
                1997.
                On 1 December 2001, the responsibilities of a number of other organisations transferred
                to the FSA. These were the:
                • Building Societies Commission;
                • Friendly Societies Commission;
                • Investment Management Regulatory Organisation (IMRO);
                • Personal Investment Authority (PIA);
                • Register of Friendly Societies;
                • Securities and Futures Authority (SFA).
                The UK Listing Authority has also joined the FSA. The FSA is therefore now the UK’s
                financial services “Super Regulator”.
                New framework legislation was necessary to replace the many existing laws and
                regulations: this became the Financial Services and Markets Act (FSMA) which received
                Royal Assent in June 2000 and came into force on 1 December 2001. FSMA is only
                “framework” legislation. This means that the Treasury implements many sections of the
                Act by means of Statutory Instruments. There are over 100 statutory instruments under
                FSMA. There are also many EU directives and regulations which must be borne in mind
                in the regulation of financial services. In addition, the FSA has produced, in consultation
                with financial services practitioners, a 17 volume Handbook of rules and guidance. Not
                only, then, is the scope of the UK financial sector regulated by the FSA extremely farreaching,
                but the legislation, rules, policies and regulations are dense and highly complex.
                Last edited by Amethyst; 24th September 2008, 15:32:PM.
                #staysafestayhome

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                Comment


                • #9
                  Re: Eire Banking System v UK Banking System

                  This is good stuff. I'll send Tom a link to the thread.

                  Comment

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