According to The Journal, a new survey reveals that 73% of Irish consumers believe banks are charging excessive fees for basic services such as account maintenance and ATM withdrawals.
The study, conducted by Censuswide for money app Wise in September 2024, surveyed 2,000 adults in Ireland. Key findings include:
- 79% want simpler methods for international money transfers and spending
- 73% either don’t understand overseas transaction fees or believe banks should make them clearer
- 43% felt they were overcharged on hidden exchange rate fees in the past year
The survey also highlighted other banking concerns:
- 37% cited a lack of competitive interest rates
- 29% reported poor customer service or lack of responsiveness
- 27% expressed concerns about costly and slow international transactions
- 25% noted a lack of transparency in bank fees