The NAMA banks are bust.
Their new business plan is to offer sweet fuck all for deposits, bleed the standard variable mortgages dry, foreclose on delinquents (undercutting NAMA as they do), ramp up charges on overdrafts, cheque cashing, late fees, etc. NAMA banks will be the banks of tricks and traps - every which way they can gouge you they will.
This alone should be reason enough to not do business with them.
As long as Langer Lenihan keeps making the case of “no need for full nationalisation” then the NAMA banks only really exist to buy government debt. The more they get recapitsalised the closer they get to full nationalisation. Full nationalisation means they get covered by EU state aid rules. No more government debt bullshit.
If they lose customer accounts to competitors then they lose market share. The more they lose customers the more their share price tanks. The more the share price tanks the cheaper it gets to recapitalise them. The more customers migrate from the NAMA banks the more opportunity there is for others in the market to offer competitive products. Anything they offer can’t but be more competitive than the gouging from the NAMA zombies.
No one makes you bank with the NAMA vampires.
Your money. Your voice.