Fears that solicitor client accounts will be hit by negative-interest charges

The Leitrim Bar Association is calling for solicitor client accounts to be exempt from proposed new negative-interest charges by two of the country’s leading banks.

Kieran Ryan, President of the Leitrim Bar Association, says solicitors who are customers of AIB and Bank of Ireland have been notified of the banks’ intention to introduce a charge on all monies, including home mortgage loans, held in solicitor client accounts.

Mr Ryan, of Kelly & Ryan Solicitors, based in Manorhamilton and Sligo, has been explaining to Ocean FM News the background to the proposed new charges and why solicitor client accounts are very different from ordinary savings accounts.