In 2020, approximately €85 million was fraudulently taken from consumers, representing an increase of nearly 9%. These figures, released by FraudSmart, a division of the Banking and Payments Federation of Ireland, indicate that card fraud was the primary type of fraudulent payment transactions. Card fraud accounted for over 95% of these transactions in terms of …
The Irish banks’ rival to the popular payments app Revolut is facing further obstacles as it has been informed that it requires clearance under EU regulations. Synch Payments, the firm behind the initiative, announced on Thursday that the Central Bank of Ireland has informed them of the need for “regulatory approval pursuant to the European …
In spite of suppliers significantly reducing discounts for switching, the Commission for the Regulation of Utilities (CRU) discovered a difference of approximately €900 between the most and least expensive energy providers in Ireland. Electric Ireland offers the cheapest standard domestic electricity tariffs at €2,023 per year, while Flogas has the most expensive plan at €2,886, …
Research conducted by Peopl.ie, a leading insurer, reveals a concerning trend in travel insurance claims. Surprisingly, a significant number of claims are being made before policyholders even embark on their journeys. The data indicates that the two primary reasons for travel insurance claims are for covering holiday cancellations and medical expenses. Peopl Insurance has chosen …
Many individuals who have the opportunity to take a break are facing the need to cut back on their holiday expenses. Despite a slight improvement in the Credit Union Consumer Sentiment Index this month, close to one-third of people surveyed stated that they cannot afford a holiday this year. Similarly, a significant proportion indicated that …
Non-bank lender, Finance Ireland, has announced another increase in its variable rates. This comes just a month after the previous increase. The new rates will range from 6.25% to 6.65%, depending on the loan to value. These rates are some of the highest seen in the market in decades, aside from those charged by vulture …
ICS Mortgages has announced an increase in its variable mortgage interest rates for owner occupier mortgages. The rates will rise by between 0.20 and 0.30 percentage points across all loan-to-value (LTV) bands, bringing them to a range of 6.25% to 6.4%. This follows similar increases by rival Finance Ireland last month. ICS buy-to-let mortgage interest …
In a strategic move, Permanent TSB has announced an upcoming increase in its variable rates for home loans. Effective from the end of the month, these rates will rise by 0.05 to 0.40 percentage points. The bank’s standard variable rate (SVR) for home loans will experience a 0.35 percentage points increase, reaching 4.30%. Moreover, the …
According to a survey commissioned by Aviva Insurance, inflation in airfares, heatwaves, and unpredictable weather are not deterring holidaymakers from traveling abroad. Despite the recent increase in air travel costs, 55% of Irish holidaymakers still plan to travel abroad this year. Only a quarter of respondents have decided to halt their overseas travel plans due …
The Irish tax authority, Revenue, has announced that approximately 650,000 taxpayers who filed their tax returns are eligible for refunds totaling €453 million. The average refund to be issued by Revenue is €624 per taxpayer, reflecting an increase of €104 million and approximately 150,000 more taxpayers compared to the same period last year. These figures …