(Cavan-Monaghan): May I ask a further question that may be relevant or not too much out of order?

I hope it is in order.

(Cavan-Monaghan): Is the Minister aware that a merchant who is trading on this side of the Border, actually beside it, and takes in, say, £500 worth of sterling for goods and then goes to the local bank for a money order to send £300 to the UK in settlement of an account, is charged a considerable amount? He is told that the bank have to buy the sterling from him, charging for that, then sell it back to him, charging for that, so that the net cost on £300 can be £9 or £10.

I am not aware of the precise figures involved in a transaction of that kind but offhand it would strike me as being an unduly high charge on a figure of £300.

(Cavan-Monaghan): My figures may not be right but he is charged a poundage or a fee of some sort for selling the sterling to the bank and then buying it back although he himself has the sterling that he wants to send to the UK.

I am not aware of that particular aspect of it but I shall inquire into it.