Personal Current Account Banking Services in Northern Ireland Market Investigation

The Commission's report examines the market for personal current account (PCA) banking services in Northern Ireland, following on from a supercomplaint made by Which? and by General Consumer Council for Northern Ireland under the Enterprise Act 2002. This provisional report finds that banks have unduly complex charging structures and practices which are not sufficiently explained, and customers generally do not actively search for alternative PCAs or switch provider. It concludes that, despite significant changes in recent years, without effective remedial action the market as a whole will remain uncompetitive.