Banking and Payments Federation Ireland: Protecting Online Shoppers from Scams

The Banking and Payments Federation Ireland (BPFI) is a non-profit organization that represents the banking and payments industry in Ireland. They play a crucial role in promoting consumer protection and financial inclusion.

BPFI has been working closely with the Irish government to develop a new code of conduct for online retailers, which aims to protect consumers from scams and ensure a safer online shopping experience. This code is expected to be implemented soon.

According to BPFI, online shopping scams have been on the rise in Ireland, with many consumers falling victim to fake websites and phishing emails. In 2020, over 10,000 online shopping scams were reported to the Irish authorities.

BPFI recommends that online shoppers be cautious when making purchases online and to always check the website's security features before entering payment details.

Mortgage approvals have been on the rise in Ireland, with over 5,000 mortgages approved in October alone, an 8.6% increase from previous months.

First-time buyers are driving this activity, representing 62% of approvals since August 2023. This is a significant trend, as first-time buyers continue to seek out affordable housing options.

The number of mortgage drawdowns has also increased, climbing 1.4% in the third quarter. This is a promising sign for the Irish housing market.

More than 7,000 first-time buyer mortgages were drawn down in the three months leading up to September. This is a notable milestone, as it highlights the growing demand for mortgage financing.

The Banking and Payments Federation of Ireland has launched a campaign to highlight the risks of text message fraud, but this hasn't slowed down the mortgage approvals process. In fact, the volume of contactless payments made for goods and services in the first half of the year was over 1.4 billion.

The industry body has also noted a renewed reliance on family to afford a home, which is a concerning trend. However, this hasn't deterred first-time buyers, who are continuing to drive the mortgage approvals market.

The number of first-time buyer drawdowns has reached its highest second-quarter level since 2007, with over 7,000 mortgages drawn down in the three months leading up to September. This is a significant increase from previous years.

As interest rates continue to fall, more homeowners are switching to new mortgage deals, with a 18.6% increase in approvals in July. This is a promising sign for the Irish mortgage market, which is showing signs of renewed activity.

In recent months, mortgage approvals have been on the rise, with a notable 8.6 per cent increase in October. This surge can be attributed to lower interest rates that are making it more affordable for people to buy homes.

Over 7,000 first-time buyer mortgages were drawn down in the third quarter, with a 1.4 per cent increase in mortgage drawdowns compared to the previous quarter. This trend suggests that more people are entering the market as first-time buyers.

The Banking and Payments Federation Ireland has launched a campaign to raise awareness about the risks of text message fraud, which is a growing concern for consumers. More than 1.4 billion contactless payments were made in the first half of this year, highlighting the increasing reliance on digital payment methods.

First-time buyers are driving activity in the market, representing 62 per cent of approvals since August 2023. This is a significant trend that suggests many people are taking advantage of lower interest rates to purchase their first homes.

Approvals rose 18.6 per cent in July, supported by a revival in loan-switching activity as some homeowners reach the end of their fixed-rate periods. This surge in activity is a result of homeowners looking to take advantage of lower interest rates and switch to more favorable mortgage deals.

BPFI Initiatives are making a big splash in the banking world. The Banking and Payments Federation Ireland (BPFI) is a banks lobby group that's taking steps to help consumers make informed decisions about their finances.

One notable initiative is a nationwide information and awareness campaign to encourage customers to explore their mortgage options. This campaign is being rolled out in response to falling interest rates, making it a great time to reassess your mortgage situation.

A mortgage is a long-term commitment that can have a significant impact on your finances for decades to come. It's essential to consider all the factors involved before signing on the dotted line.