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The Consumer Council said today that the Competition Commission’s final judgement on the £2 billion Northern Ireland personal current account market (PCA) will change the face of banking in Northern Ireland and right across the United Kingdom. As a result of the super-complaint issued by Which? and the Consumer Council, this package of final and binding decisions will fundamentally shift the power in this marketplace from the banks to their customers where it belongs.

Today is another groundbreaking day for consumer power in the personal current account market here. As the Competition Commission prepares to announce the findings of its thorough two-year investigation prompted by the Consumer Council’s super-complaint, the Ulster Bank has made a momentous move towards injecting real competition into the banking market for customers wanting to switch accounts.