Bank of Ireland has said it will seek to keep Irish consumers safe by restricting credit cards and online shopping while also offering a rebate to some Irish consumers who use its services.
The bank has come under intense scrutiny after it emerged it had allowed a US-based bank to circumvent the banking blockade imposed by Ireland on its Irish operations.
The decision has prompted an outcry from consumers who fear the Irish Government is not doing enough to prevent the US financial industry from using their banking system to do business in Ireland.
In a statement issued on Tuesday, Bank of England said it would make a further offer to Irish consumers to “enhance the transparency of our customer service”.
The bank said it had been in contact with the Irish Consumer Protection Agency and was consulting on possible options.
The statement added that “it is critical to ensure that any decision we take on these matters does not have a negative impact on consumers in Ireland.”
The Bank of Italy also said it was in discussions with Irish authorities over the issue.
In recent months, Irish and US regulators have been engaged in a battle over whether to allow a US bank to access the Irish banking system, but both sides have said they want to protect Irish consumers.
The European Commission has been monitoring the issue since April and is expected to announce a ruling on Thursday.
Earlier this month, the Irish government said it believed that banks operating in the country could use technology to circumvent Irish restrictions on US banks.