Which bank to use?

Obscure

Moving job and seems like the best time to move bank also! Need to give details of bank account to send wage to and prefer not to change this while working incase something ****s up!

So my question is: What bank should i opening an account with? Which one could be considered the most consumer and ethically friendly bank?

Currently with AIB but would like to drop them because have a feeling their a shower of bastards.

eth0_

AIB are the best bank i've used and i've been with BOI and Ulster Bank previously. However they do charge for bloody everything, it's minimal but it does add up, I try only to use the ATM once a week otherwise i'd end up with loads of ATM charges every quarter

BOI are the WORST bank i've ever encountered.

grumpytrousers

In the same way that it doesn't matter who you vote for in an election, cos the government always wins, something similar applies with banks in general. It reminds me of that old (at least 2.5 years) joke

Q Why is the Irish unit of currency called the Punt?

A Cos it rhymes with Bank Manager.

You could try this one - it used to guarantee you free banking.

a) get a credit card
b) get your employer to pay your wages to that credit card account. not sure how you'd do this - a friend claims you can get this done
c) use your credit card account as your bank account. You can draw money out of ATM's, but as long as you're in credit, they don't charge you (contrast with BOI where it's 30c a pop). You can pay most bills with the C Card. And apparantly they'll pay you a modicum of interest on your positive balance.

if you can't get your employer to pay directly to your CCard account, then just open an account with any bank, get a CCard, and set up a direct debit transferring it all over on the month. Leave a bit in for 'incidentals' and you're laughing.

jetsonx

About 1year ago, BoI unbelieveably sent me out a bank statement that was faded...i.e. the printer they must have used was out of ink. All I could see was
one or two lines. I cannot believe they sent it out to me.


Another think about BoI is that their retail branches are fairly shabbly affairs...
Once in Febuary I saw the remnants of Xmas decorations still in a branch and it was March...Also of note are the grubby carpets and shabby walls with faded posters on them (fine for a betting office...not a bank) I have been in more modern banks in rural Romania.

seamus

I've always found Bank of Ireland to be the best. I've never had any problems whatsoever, and they've always been prompt with any requests I've made.

Most people I know would use AIB, and I hear nothing but complaints from them.

HelterSkelter

NIB have no account charges once you remain in credit. There is a very good survey on www.ifsra.ie, take a look at that.

nava

I use PermanetTSB, I get paid to my account and also have a loan with them, the best thing is that I do not pay any charges, I get the statment and should be about €23 every quarter that gets refunded to me.

Also you use your card to take money out in Europe any ATM that takes CIRRUS

Regards

Ripwave

Originally posted by nava
I use PermanetTSB, Also you use your card to take money out in Europe any ATM that takes CIRRUS

What card? A PTSB Credit card, or you "Open24" card?

(My Open24 Card definitely doesn't have a Cirrus symbol on it, and when I asked about getting money out of foreign ATMs, I was told I had to get a credit card, and pay interest on my withdrawals!)

Paddy20

Bejeeburs :eek: I find myself in total agreement with 'eth0_'. What's happening ?..

Heres 'Paddy's - Tip of the Day.

I hear that the The Bank of Scotland, have just started operating in Ireland, or is it The Royal Bank of Scotland ?.. anyway apparently they intend to undercut all traditional Irish Bank charges, and are offering a Credit card with an introductory 6 Months interest free period, followed by very low interest APR thereafter, plus a first class 'full service' online banking service. Suggest checking them out

Must check them out myself :cool:

N.B. I also think that 'grumpytrousers idea has a lot going for it :ninja:

therecklessone

AIB are a joke to deal with usually, but now I have have a decent salary they seem rather keen to help me with my requests...:rolleyes:

Anyway, AIB's 24 hour banking (phone and online) is excellent, so on that basis I'll say AIB.

nava

Hi

I have the Open 24 card, mine doesn't have the Cirrus logo but I was in Spain last week and was able to take money out, check Cirrus

Regards

Ripwave

Originally posted by nava
I have the Open 24 card, mine doesn't have the Cirrus logo but I was in Spain last week and was able to take money out, check Cirrus

Bloody hell - minimum charge is €3.17!!! for non Euro transactions! And the commission rate is 3.5%!

I told them that I wasn't paying Charlie McCreevy another tenner for a Laser card that doesn't actually do anything useful for me (what can you do with a laser card that you can't do with a credit card?), so my Open24 card is just an ATM card. At those rates, I wouldn't be using it anyway, but what do you bet that it doesn't work on my card?

Paddy20

Ripwave,

Quote you; " What can you do with a laser card that you can't do with a credit card " end quote.

Shop at LIDL or ALDI and save a fortune on groceries and computers and things

seamus

Originally posted by Ripwave
Bloody hell - minimum charge is €3.17!!! for non Euro transactions! And the commission rate is 3.5%!

Yeah, tis very handy for Euro withdrawals, but for non-Euro, you're better off paying by credit card and using online banking to manage your cash.

John R

I have been with Permanent TSB for several years now, no charges at all as long as there is over €300 in the account.

shoegirl

It depends what your income is.

If you earn >28k per annum then Ulster and P TSB have very favourable accounts where once you keep a certain amount in the account its free.

If you earn less than 28k a year I'd go for NIB's Freebank account, which is everything you normally get with a Current account minus the overdraft, and you get free banking. Also they are part of the National Australia Bank group, so if you use ATMs in the UK of sister banks Clyesdale or Yorkshire banks, you won't get charged anything more than the standard currency conversion rate. I am told that LINK transactions are also free, though I think some providers do have a nominal charge (but considerably than the usurious charges that AIB hammer you with dare you use your ATM card abroad). Also they will try and sell you the credit card with an extremely favourable rate of 0% for 5 months, so worth transferring as its only 14.9% after 5 months. The online banking is the best I've ever seen.

AIB offer an extremely poor deal, especially for less well off folks who need to keep costs like this down. Also if you're an ATM junkie you will probably be screwed by them. BOI are not great either - I've had extremely poor customer service and bad advice from them all round. Only thing is they have a fairer charging structure than AIB - you can get up to 40 transactions for I think, about 12 euro a month.

Sad to say it, but the 2 big banks treat small customers and those on beneath average incomes very shabbily - you'll get very little attention for requests, and will find getting better service difficult. And almost ALL the Irish banks treat people on very low incomes very badly indeed - even simple requests will be difficult. And if you have any history of credit problems, BOI and AIB will really remind you of it. The smaller banks are a bit more easy going about the past and only really interested in your long term potential.

Ripwave

Originally posted by Paddy20
Ripwave,

Quote you; " What can you do with a laser card that you can't do with a credit card " end quote.

Shop at LIDL or ALDI and save a fortune on groceries and computers and things

After I've paid €10 in petrol to get to an Aldi or Lidl store ........ (and the last time I was in one, they took cash anyway

sliabh

Laser carries a much lower commission (about 20 or 30c IIRC) rather than the 2-3% on a credit card. So it gives the retailer less of a reason to grumble (and jack up prices)

Also laser means you can get away with carrying less cash on you.

In the UK they are now being recommended in order to reduce the level of cash machine fraud.

ChipZilla

I'd go for MIB and stay away from the mainstream robbers...

nlgbbbblth

Originally posted by Paddy20
Bejeeburs :eek: I find myself in total agreement with 'eth0_'. What's happening ?..

Heres 'Paddy's - Tip of the Day.

I hear that the The Bank of Scotland, have just started operating in Ireland, or is it The Royal Bank of Scotland ?.. anyway apparently they intend to undercut all traditional Irish Bank charges, and are offering a Credit card with an introductory 6 Months interest free period, followed by very low interest APR thereafter, plus a first class 'full service' online banking service. Suggest checking them out

Must check them out myself :cool:

N.B. I also think that 'grumpytrousers idea has a lot going for it :ninja:

Bank of Scotland: do not offer personal accounts
Royal Bank of Scotland: own Ulster Bank - bought it a couple of years ago

sceptre

Originally posted by nlgbbbblth
Bank of Scotland: do not offer personal accounts

Indeed, though judging by this, HBOS may well move into proper retail banking here through BoS(IRL) over the next few years.

LFCFan

Originally posted by grumpytrousers
In the same way that it doesn't matter who you vote for in an election, cos the government always wins, something similar applies with banks in general. It reminds me of that old (at least 2.5 years) joke

Q Why is the Irish unit of currency called the Punt?

A Cos it rhymes with Bank Manager.

You could try this one - it used to guarantee you free banking.

a) get a credit card
b) get your employer to pay your wages to that credit card account. not sure how you'd do this - a friend claims you can get this done
c) use your credit card account as your bank account. You can draw money out of ATM's, but as long as you're in credit, they don't charge you (contrast with BOI where it's 30c a pop). You can pay most bills with the C Card. And apparantly they'll pay you a modicum of interest on your positive balance.

if you can't get your employer to pay directly to your CCard account, then just open an account with any bank, get a CCard, and set up a direct debit transferring it all over on the month. Leave a bit in for 'incidentals' and you're laughing.

I wouldn't recommend this to be honest. The reason being, that if you're credit card number is used fraudulantly, the bank won't cover you on Credit Balances. They will only cover you for your credit limit. I'm not 100% sure of this but it would be worth looking into before you went down this road.

grumpytrousers

I wouldn't recommend this to be honest. The reason being, that if you're credit card number is used fraudulantly, the bank won't cover you on Credit Balances. They will only cover you for your credit limit. I'm not 100% sure of this but it would be worth looking into before you went down this road.

Interesting. How d'you mean - say I've a limit of 5K on my account, and I've racked up a 'positive' balance of 1000, you're saying that if some gouger gets a hold on my card and goes on a spending spree and maxes it out, I'll only get 5 of my six thousand back?

I can see the logic - they'll only 'insure' the money that's owed to them, not that they owe to you.

To be honest - in the example I've outlined above, (and I'm sort of employing this system now) I've tended to keep merely a float amount in the account, the rest going to the Credit Union. Tedious, yes, but it's a point of principle - I resent giving the bank my money, and they charge me for minding it...

Oh - and I keep an eye on my Credit Card at all times

LFCFan

Originally posted by grumpytrousers
Interesting. How d'you mean - say I've a limit of 5K on my account, and I've racked up a 'positive' balance of 1000, you're saying that if some gouger gets a hold on my card and goes on a spending spree and maxes it out, I'll only get 5 of my six thousand back?

That's what think happens. Like I said, probably best to check this out with the CC company before going down this road.