Bank of Ireland renews its commitment to pay Government stamp duty on behalf of its 2nd level student customers

Three-quarters of all transactions carried out by our second level student account holders are conducted at an ATM. There are an estimated quarter of a million children in secondary school in Ireland and their reliance on ATMs is unique. We believe it is fundamentally wrong that minors are required to pay a Government tax given they have little or no income. We have made the commitment to pay the stamp duty on their behalf again this year because the Bank believes that young customers should be positively encouraged to manage their money sensibly and efficiently and any impediments to doing this should be removed. We welcome new customers throughout the year but those opening an account before the 30th November and using it just once a month thereafter, will be rewarded with 300 free texts for their mobile phones. Our Teen SmartSave account will also encourage the savings habit as it offers a variable interest rate of 3.75% and a €5 bonus after six months',

Bank of Ireland announced today that it will to continue to be the only Bank in Ireland to pay the obligatory €10 Government Stamp Duty on ATM cards on behalf of its 2nd level student customers. This is an annual €10 charge that is payable by anyone holding an ATM card and which the banks must deduct from a cardholder's account and return to the Revenue Commissioners on behalf of the customer.

According to Nicola Brady, (Student Banking Marketing Manager), 'Three-quartersof alltransactions carried out by our second level student account holders are conducted at an ATM. There are an estimated quarter of a million children in secondary school in Ireland and their reliance on ATMs is unique. We believe it is fundamentally wrong that minors are required to pay a Government tax given they have little or no income. We have made the commitment to pay the stamp duty on their behalf again this year because the Bank believes that young customers should be positively encouraged to manage their money sensibly and efficiently and any impediments to doing this should be removed.

We welcome new customers throughout the year but those opening an account before the 30th November and using it just once a month thereafter, will be rewarded with 300 free texts for their mobile phones. Our Teen SmartSave account will also encourage the savings habit as it offers a variable interest rate of 3.75% and a €5 bonus after six months',she added.

Bank of Ireland's 2006 second-level student campaign is designed to meet students' daily banking needs and offers:

A 365 Cash Card which allows students to:

ENDS

15th October 2006

For reference:

Laoise O'Shea
Student Product Manager
Personal Banking
Tel: 01 6043739
Mob: 086 8049494

Mary Brennan
Group Corporate Communications
Bank of Ireland
Tel: 01 6043838
Mob: 087 2833646