Bank of Ireland Lightens the Financial Load of College Life with its 2006 Third Level Student Banking Package

700 free text messages when first year students open and use a Bank of Ireland third level student account

- 0% introductory rate on purchases with new student credit card for first six months -

Thursday 3rd August 2006, Bank of Ireland has today announced two brand new incentives to accompany its 2006 third level student banking package - 700 free text messages* and a free Student Travel Card. The incentives, aimed at relieving some of the financial burden of college life, have been selected as a result of findings of recent research carried out by Bank of Ireland which showed that travel costs and mobile phone credit are among the highest areas of expenditure for today's students. In addition to the incentives, Bank of Ireland has also announced a great new 0% introductory rate on purchases for the first six months with their student credit card.

According to the research into student finances, almost 90% of students own a pay as you go phone and are spending an average of €41 per month on top-ups - a figure which amounts to 6.2% of their overall spending. Nicola Brady, Marketing Manager, Personal Segments, Bank of Ireland said: "Our student banking package, which includes up to 700 free text messages for students using their account in the academic year, has been tailored to meet the daily banking and lifestyle needs of today's students. We know that the cost of college life is going up and up and our research has identified that mobile phone top ups is a major contributor to student expenses. We hope that by giving students 100 free texts per month for the academic year, they will be left with a bit of extra cash to put towards the many other expenses which they will come up against when starting college."

The research also shows that travel expenses rank highly among student outgoings, with 49% of students stating that they use the bus as their main mode of travel. Students' average monthly spend on travel is €62. The free Student Travel Card being offered with Bank of Ireland's third level student banking package gives discounts on Dublin Bus, Irish Rail, Luas and Bus Eireann. Additionally, the student travel card allows students 10% discount at HMV and Topshop/Topman as well as a 25% discount in Specsavers.

In addition, the research indicates that credit cards are of strong interest to students, and even more so to female students. 47% of students applying for a credit card cited travel as their main reason for wanting a card, followed by online shopping and ticket purchase which accounted for 31%. The funky new Bank of Ireland student credit card has been redesigned for 2006 by a Dunlaoghaire IADT student and offers students the most flexible credit limits on the market - €400 for first and second years and up to €850 for third and subsequent years.

Details of this year's financial package;

Details of Bank of Ireland Student Credit Card:

-Ends-

For reference:

Bank of Ireland:

Nicola Brady,
Marketing Manager,
Personal Segments,
Bank of Ireland,
Tel:01 6043739

Drury Communications:
Paula Mullin/ Gillian Reith
Tel:01 260 5000 / 085 1416179 (PM)
Email:pmullin@drurycom.com/ greith@drurycom.com

* Initial qualifying period for text promotion is August 8th to October 25th. 1st year qualifying students will receive 100 texts per month from Nov 2006 until May 2007. Terms and conditions apply. Full terms and conditions available on request or can be viewed at www.bankofireland.ie. Bank of Ireland is regulated by the Financial Regulator

Sources of Market Research Information: