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McLaughlin calls on all banks to abolish cross-border transfer fees

28 November, 2007

Sinn Féin Economy Spokesperson, Mitchel McLaughlin MLA (South Antrim) has called on all Banks to follow the lead taken by National Irish Bank and its sister company Northern Bank in abolishing fees for electronic cross-border transfers.

Mitchel McLaughlin said:

"I welcome this decision by National Irish and Northern to show leadership on the issue of cross border banking charges which affects a growing number of people in Ireland today.

"I also welcome the initiative taken at the recent North South Ministerial Council in Dundalk where it was agreed to set up a working group to examine the whole issue of cross-border banking.

"With the increased numbers of people who do business in both jurisdictions this will be a most welcome development. The added cost of transaction charges, transfer fees etc can be a drain on cash flow particularly for small businesses.

"The integration of banking services is a natural progression in the development of an all-Ireland economy and I would encourage all banks doing business here to follow this initiative." ENDS

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