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Free banking rules in AIB changed

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Comments

  • Registered Users Posts: 5,532 ✭✭✭JTMan


    Elessar wrote: »
    Looks like it's true. NIB will be charging fees and forcing customers to change to different accounts :mad: But it looks like they're all heading the same way, including Ulster Bank:

    http://www.independent.ie/business/irish/national-irish-bank-ends-feefree-banking-on-all-current-accounts-3038435.html

    NIB already impose fees on all customers.

    There has been speculation for about 2 years that Ulster will impose fees, they have not done it yet. If Ulster do apply fees in the future, the fees might only apply to new customers, like what happened at PTSB, as the existing Ulster account is marketed as been a "transaction fee free banking account".


  • Registered Users Posts: 5,232 ✭✭✭Elessar


    Fungus wrote: »
    NIB already impose fees on all customers.

    There has been speculation for about 2 years that Ulster will impose fees, they have not done it yet. If Ulster do apply fees in the future, the fees might only apply to new customers, like what happened at PTSB, as the existing Ulster account is marketed as been a "transaction fee free banking account".

    I haven't been charged any fees with NIB. I'm on their FreeBank a/c which is a good few years old (before they were bought by Danske Bank). I wonder if they will apply to me? Any other freebank customers here?

    I bet my bottom dollar Ulster will start charging fees soon.


  • Banned (with Prison Access) Posts: 4,255 ✭✭✭Yawns


    Completed the online form today for a joint account and filled in the details to close the old aib account. Just awaiting the pack via post now. If Ulster are smart they will wait and see what kind of reaction AIB gets from introducing fees. They are going to gain an awful lot of current account customers from the situation as it stands I bet.

    My father and sister are with AIB and I will be making sure they are informed to the charges and I bet they will also switch. The father is only with AIB for the free fees as it is atm. He hasn't a clue about the charges being brought in yet.


  • Closed Accounts Posts: 974 ✭✭✭BarackPyjama


    Elessar wrote: »
    I bet my bottom dollar Ulster will start charging fees soon.

    If Ulster Bank introduce fees for day-to-day transactions, people will leave them in droves. It would be idiotic.


  • Registered Users Posts: 10,434 ✭✭✭✭28064212


    If Ulster Bank introduce fees for day-to-day transactions, people will leave them in droves. It would be idiotic.
    Leave them for who exactly?

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  • Closed Accounts Posts: 974 ✭✭✭BarackPyjama


    28064212 wrote: »
    Leave them for who exactly?

    Whoever. If everyone's introduced fees by then, I would leave them on principal. I want the same deal from my bank, more or less, that I got when I joined. Most likely though I'd look at an online a/c.


  • Registered Users Posts: 10,434 ✭✭✭✭28064212


    Whoever. If everyone's introduced fees by then, I would leave them on principal. I want the same deal from my bank, more or less, that I got when I joined. Most likely though I'd look at an online a/c.
    Everyone's already introduced fees, Ulster Bank are the last man standing.

    And an online account? How are you going to withdraw cash?

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  • Closed Accounts Posts: 974 ✭✭✭BarackPyjama


    28064212 wrote: »
    Everyone's already introduced fees, Ulster Bank are the last man standing.

    They're free now. I'll move to them and stay with them while this is the case.
    28064212 wrote: »
    And an online account? How are you going to withdraw cash?

    Telepathy.


  • Registered Users Posts: 10,434 ✭✭✭✭28064212


    They're free now. I'll move to them and stay with them while this is the case.
    And then move where?

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  • Closed Accounts Posts: 974 ✭✭✭BarackPyjama


    28064212 wrote: »
    And then move where?

    Nowhere if they don't introduce fees. If they do, and everyone else are charging fees, I'll still move elsewhere on principal.


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  • Registered Users Posts: 10,434 ✭✭✭✭28064212


    Nowhere if they don't introduce fees. If they do, and everyone else are charging fees, I'll still move elsewhere on principal.
    Kind of missed the question there. Assuming they do introduce fees, where will you move?

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  • Closed Accounts Posts: 974 ✭✭✭BarackPyjama


    28064212 wrote: »
    Kind of missed the question there. Assuming they do introduce fees, where will you move?

    I'll decide if and when I need to.


  • Registered Users Posts: 10,434 ✭✭✭✭28064212


    I'll decide if and when I need to.
    So you're going to leave the last bank to introduce fees to go to a bank that introduced fees before them, on a point of principle?

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  • Closed Accounts Posts: 974 ✭✭✭BarackPyjama


    28064212 wrote: »
    So you're going to leave the last bank to introduce fees to go to a bank that introduced fees before them, on a point of principle?

    I would leave a bank that introduced fees while I'm their customer on principal, yes. That includes my savings account. Ulster Bank are a free bank at the moment. Let's allow the thread to take its course and stop dealing in hypotheticals. Thank you. :)


  • Registered Users Posts: 115 ✭✭jonevin


    tunedout wrote: »
    Korvanica wrote: »
    Well i'm moving bank then, anyone got any good suggestions ?

    I just signed up for Ulster Bank. They look much more professional, competitive and appreciative. Application process has been simple so far aswell. Spread the word. This will cost most people more than the household charge. F*ck them. They should be appreciative enough of the almost guaranteed future business they would have got off of most of their current account holders:
    Ulster Bank can now look forward to my business for the future, which will probably include personal loans, a new credit card, debit card and credit card fees from vendors, and probably even be the provider of choice for a mortgage now (not because of these charges but because I will have my current account with them)

    People please vote with ye'r feet, send an email to people who are less financially aware.

    It would be worth anything to see AIB reverse this decision and be short 200,000 customers. This day and age, no interest current account and "Phone and Internet transaction fees". Poorly run and not competitive, they stink of state ownership. They will be scratching their heads then wondering why their own financial situation is even worse than anticipated then in 12 months.

    Honestly, how the hell is an account with €500 any more expensive to provide an internet transaction to than an account with €3000. Bullsh*t.

    Do you definitley need two forms of photo i.d to open an ulster bank account? I only have one


  • Registered Users Posts: 5,532 ✭✭✭JTMan


    jonevin wrote: »
    Do you definitley need two forms of photo i.d to open an ulster bank account? I only have one

    Walk into an Ulster branch and they will accept passport ID only with proof of address.


  • Closed Accounts Posts: 974 ✭✭✭BarackPyjama


    A passport and a utility bill (not mobile bill) should be fine.


  • Registered Users Posts: 325 ✭✭d1980


    A passport and a utility bill (not mobile bill) should be fine.

    It actually won't or should I say it wasnt the case for me. I am moving from AIB and went to UB yesterday morning. I had my drivers licence and passport as well as a print out of 2 on-line bills for Gas and electricity. As they were pdf print outs, they would not accept them. They wanted originals and as I have tv, phone, internet, gas, electricity, and credit card all set up for on-line billing I could not provide them with 'originals' so I walked out. I will move to BOI now instead....The girl in front of me had a similar issue.


  • Closed Accounts Posts: 974 ✭✭✭BarackPyjama


    d1980 wrote: »
    It actually won't or should I say it wasnt the case for me. I am moving from AIB and went to UB yesterday morning. I had my drivers licence and passport as well as a print out of 2 on-line bills for Gas and electricity. As they were pdf print outs, they would not accept them. They wanted originals and as I have tv, phone, internet, gas, electricity, and credit card all set up for on-line billing I could not provide them with 'originals' so I walked out. I will move to BOI now instead....The girl in front of me had a similar issue.

    Interesting. I'll be walking in with a Passport, drivers licence, UPC bill and Airtricity bill on Wed. If they're not accepted, that's the end of that. I don't have time to visit them more than once.


  • Registered Users Posts: 325 ✭✭d1980


    Interesting. I'll be walking in with a Passport, drivers licence, UPC bill and Airtricity bill on Wed. If they're not accepted, that's the end of that. I don't have time to visit them more than once.
    I didnt either and after waiting 30 mins to get where I was, I wasnt going to come back again. As it turns out, I do have some original statements posted to me at home but as BOI is closer to where I work and easily fall under their requirements every quarter, they will get my business for now. To note, she did ask was I on the voting register, which I am, she checked her computer and found no record. Not sure why they would have that list but I wasnt on it. Registered in my current address and have voted every time in this period.

    Finally, been a customer with AIB for 14 years since college, have a credit card and a couple of savings accounts but making the move. Couldnt have faulted them til now.


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  • Registered Users Posts: 5,506 ✭✭✭Wheety


    d1980 wrote: »
    To note, she did ask was I on the voting register, which I am, she checked her computer and found no record. Not sure why they would have that list but I wasnt on it.
    Anyone can check if they are on the voting register http://www.checktheregister.ie/PublicPages/Default.aspx?uiLang=

    I'm going to set up my Ulster Bank account but I'm not moving from AIB until I have met their criteria for fee free banking for this quarter (I think I may have already achieved this).

    Then I will switch my salary to Ulster Bank and then switch everything else myself before closing down my AIB current account.

    I will also have to close my Click Card account as you need to be an AIB customer for that. I'll apply to Ulster Bank for one too. I don't really mind if it's a higher APR as I have been paying it off on time each month.

    I have a joint account with the GF in Ulster Bank already so opening an seperate current acconut should be very easy :)

    How do you cancel your current account with AIB? They don't have a customer service number on their website anymore. Also the 'Contact us' form doesn't have 'current account' or 'account closure' as a subject for your message.


  • Moderators, Motoring & Transport Moderators, Music Moderators Posts: 12,778 Mod ✭✭✭✭Zascar


    I've been with AIB for nearly 20 years and I think they have been excellent in this time, however this does p1ss me off. Thing is I do not want to change and regret it for the sake of €10 a month. However, I just took out a loan with AIB and the interest rate was ridiculously high, I think it was 12%. Are any other banks any better?


  • Registered Users Posts: 1,878 ✭✭✭johndoe99


    i cancelled all my direct debits yesterday with UPC etc, and dropped in this morning and closed my account. They asked for a reason why i was closing, i looked at him and said 'have a guess', he just nodded, he knew why straight away. I bet i was not the first or last he will see doing the same.


  • Closed Accounts Posts: 6,093 ✭✭✭Amtmann


    I have four accounts with AIB:

    • A current account that has an interest-free EUR1,500 facility
    • A loan account which I opened to do an MA (over a year's worth of repayments left on it)
    • An account for my utilities
    • An account which I use to pay my rent
    I'll keep the interest-free overdraft current account for now, thank you very much, and close it when my loan is repaid.
    Obviously I'll maintain the loan account until it's settled.
    I will move the other two to Ulster Bank.

    However, given that I'll have a very good credit rating with AIB after I repay my loan, is it worth staying with them on that basis?

    I have no history with Ulster Bank.


  • Registered Users Posts: 5,532 ✭✭✭JTMan


    Zascar wrote: »
    I've been with AIB for nearly 20 years and I think they have been excellent in this time, however this does p1ss me off. Thing is I do not want to change and regret it for the sake of €10 a month. However, I just took out a loan with AIB and the interest rate was ridiculously high, I think it was 12%. Are any other banks any better?

    Loan price comparison here: http://compare.nca.ie/PersonalLoan


  • Registered Users Posts: 5,532 ✭✭✭JTMan


    Amtmann wrote: »
    I have four accounts with AIB:

    • A current account that has an interest-free EUR1,500 facility
    • A loan account which I opened to do an MA (over a year's worth of repayments left on it)
    • An account for my utilities
    • An account which I use to pay my rent
    I'll keep the interest-free overdraft current account for now, thank you very much, and close it when my loan is repaid.
    Obviously I'll maintain the loan account until it's settled.
    I will move the other two to Ulster Bank.

    However, given that I'll have a very good credit rating with AIB after I repay my loan, is it worth staying with them on that basis?

    I have no history with Ulster Bank.

    Ulster and all other banks can access your credit record.


  • Registered Users Posts: 67 ✭✭DAT64


    Wheety wrote: »
    Anyone can check if they are on the voting register http://www.checktheregister.ie/PublicPages/Default.aspx?uiLang=

    I'm going to set up my Ulster Bank account but I'm not moving from AIB until I have met their criteria for fee free banking for this quarter (I think I may have already achieved this).

    Then I will switch my salary to Ulster Bank and then switch everything else myself before closing down my AIB current account.

    I will also have to close my Click Card account as you need to be an AIB customer for that. I'll apply to Ulster Bank for one too. I don't really mind if it's a higher APR as I have been paying it off on time each month.

    I have a joint account with the GF in Ulster Bank already so opening an seperate current acconut should be very easy :)

    How do you cancel your current account with AIB? They don't have a customer service number on their website anymore. Also the 'Contact us' form doesn't have 'current account' or 'account closure' as a subject for your message.

    If your switching to UB they can switch your AIB account & close your account there too.
    Try Golden pages for your local branch to close account otherwise, or write to them.


  • Closed Accounts Posts: 143 ✭✭Kaner2004


    I went in today to close the accounts. The manager came out and brought me into the office. I got the blurb about having 2500 in it at all times and said that wasnt good enough. She then offered myself and my wife free fees for life if we stayed, without any conditions at all. We have a lot of money between all of the AIB accounts so that might have swayed them.

    It might be worth having a talk to them about your account.
    Im going to open ulsterbank current accounts anyway just to have there if we need to change bank.


  • Registered Users Posts: 67 ✭✭DAT64


    Kaner2004 wrote: »
    I went in today to close the accounts. The manager came out and brought me into the office. I got the blurb about having 2500 in it at all times and said that wasnt good enough. She then offered myself and my wife free fees for life if we stayed, without any conditions at all. We have a lot of money between all of the AIB accounts so that might have swayed them.

    It might be worth having a talk to them about your account.
    Im going to open ulsterbank current accounts anyway just to have there if we need to change bank.

    Thats brilliant well done for haggling!
    Get it in writing to be sure its for life, that manager may be transferred to another branch & you may be back at square one!;)


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  • Registered Users Posts: 67 ✭✭DAT64


    Amtmann wrote: »
    I have four accounts with AIB:

    • A current account that has an interest-free EUR1,500 facility
    • A loan account which I opened to do an MA (over a year's worth of repayments left on it)
    • An account for my utilities
    • An account which I use to pay my rent
    I'll keep the interest-free overdraft current account for now, thank you very much, and close it when my loan is repaid.
    Obviously I'll maintain the loan account until it's settled.
    I will move the other two to Ulster Bank.

    However, given that I'll have a very good credit rating with AIB after I repay my loan, is it worth staying with them on that basis?

    I have no history with Ulster Bank.

    Your credit rating history is available to very bank.
    If you dont use your overdraft it might be worth switching that account too.
    If you did have to pay interest e.g. If you are overdrawn by E1500 for 30 days at a rate of 12% (approx) for example the cost is E14. Your new fees with AIB may be more than this.
    You are only charged for what you use when you use it, you will still incur account transaction fees & maintenance fees if you dont keep min balance in the account so it may be worth switching this account also & get an overdraft with UB if you need it.
    I hope i explained that ok! ;)


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