An Ireland South MEP calls for Irish banks to introduce instant bank transfers service to customers.
Fianna Fáil MEP, Billy Kelleher, who represents Kerry, says the Irish retail banks must catch up with other European banks by introducing instant transfers between IBAN accounts.
MEP Kelleher is a member of the European Parliament’s Economic and Monetary Affairs (ECON) Committee.
He says it's unfair to the Irish banking customers as it takes at least a day for a transfer to be processed; in many European countries, the transfers are instant.
The MEP says the European Commission recently published a proposal that would make all IBAN to IBAN instant transfers mandatory.