Vol. 456 No. 7
72 Mr. J. O'Keeffe asked the Minister for Finance the obligation, if any, on banks and financial institutions to notify each account owner by way of a statement of balance on account with accrued interest in respect of deposit accounts and simple statements in respect of current accounts; and the proposals, if any, he has in this regard. [14634/95]
There is no statutory obligation on banks and other credit institutions to notify individual account-holders of balances on their accounts, by way of statements.
The notification of statements to individual account-owners is among the terms and conditions which are agreed between the account-holder and his or her credit institution, and individuals may make whatever arrangements are appropriate for themselves. Statements can be obtained by customers at any time on request.
I am not aware of any systematic problems in this area and I have no proposals in this regard.
