Switching banks - where to go?

Trojan

I'm currently with Ulster, and am pretty unhappy with the level of service and the amount of fsck ups.

I'm thinking of switching all banking to one of the smaller banks, so I'd like to hear opinions on Perm TSB and NIB in particular, and any other suggestions and comments people have.

LegacyUser

How come one of the smaller banks over a big bank?

Sorry for not helping you, but would just like to know.

is it easier for loans/mortgages etc or something?

Trojan

Cos the bigger banks don't really give a damn whether they have my business, whereas a smaller bank might work harder to make me a happy customer. And smaller bank often means smaller branches, which means there's a better chance of the person answering the phone actually knowing me.

Nuttzz

i'd disagree with you Trojan, i left Ulster Bank for BOI and have found the staff in (my dublin) branch very helpful, the bank manager even arranged a credit card with a massive credit limit for me, (which i reduced because it would just be too tempting)
Found them very good especially when they knew i was comming from another bank.

/edit the otherhalf used to use Perm TSB and found them as clusterfluck after the merger and join BOI too

RuggieBear

Actually my father had loads of trouble with Ulsterbank and decided enough was enough and joined AIB who welcomed him with open arms and perhaps more importantly basic competency.

UlsterBank then caused a load of trouble asking for this form and that and needing their lawyers to look over things....before he was finally able to escape....

He now swears by AIB...(perhaps he hasn't been over charged yet):D

On another note, i think the bigger banks have more comfortable halls. My local Ulsterbank (Bray) is tiny and really hot when there is more than 2 people in the queue....what's more annoying is the big air conditioner, behind the plate glass, for the tellers. You know where their priorities lie! :rolleyes: You can feel a cool breeze coming from the tellers side as you melt on the other side of the glass

P

RainyDay

I've found NIB to be great over recent years for my personal banking - their Freebank account means no charges, once you stay in credit.

Trojan - What services are you looking for? Business? Personal? Mortgage? Internet Banking?

Trojan

Originally posted by RainyDay
I've found NIB to be great over recent years for my personal banking - their Freebank account means no charges, once you stay in credit.

Trojan - What services are you looking for? Business? Personal? Mortgage? Internet Banking?

Just personal and Internet banking at the moment... I think I'll have a look at NIB and P-TSB.

rs

I've used PTSB for several years.

What I like,

no bank charges if my average balance for the month is 300 pounds (I think these days the average has to be 1000 euro, but my account dates back a few years). I have yet to pay any bank charges.

Generally nice to deal with for day to day stuff. Never taken out a loan, but did go to them for a mortgate. They were pretty nice about that too and I got approval without any hassle (did not take mortgage in the end, deal fell through)

What I don't like

Can't see credit card balance on online banking. You can make payments via the web (using the "pay a bill" function), but you can't see the balance or the transactions. This is pretty annoying. You have to call their visa dept or wait for your statement to see what is going on with your credit card account.

slave1

Have a look on the boards, there's a few threads on banks around

Anyhow, was with BOI they were crap, errors on account, loads of flyers in the post
AIB better, great online facility, but they insisted on starting to charge me so I left
Now with NIB, I have no charges at all, a cheque book and an ATM card, decent internet facility, that's all I need

shoegirl

I've been with Permanent, BOI, AIB and NIB and found that BOI and AIB fleeced me bigtime. AIB are particularly nasty as they load charges onto your account even on basic accounts without full facilities.

PTSB are good if you have a mortgage with them, pay in your salary directly or maintain a balance of 1000 or higher - then you get free banking for 18 months or permanently. This is good if you have a mortgage with them or a high balance (and presumably no need for an overdraft).
See http://www.permanenttsb.ie/personal_banking/free_banking.asp

AIB charge fees on ALL their accounts now (so that student account that turned into a cashsave account is now charged the SAME as if you had a current account, without all the benefits of a current account!) Stay away from AIB. They offer a lifestyle current account, which is more expensive than the Ulster offering, and seems less good, and their current account is relatively expensive unless you have very few transactions. I believe, however, that they are good to deal with and practical if you are having financial difficulties. AIB promised a "low cost" current account option last year (possibly to replace their old cashsave options?) but to date this has not materialised.
See http://www.aib.ie/servlet/ContentServer?pagename=AIB_PersonalPortal%2FAIB_Services%2Faib_d_service&c=AIB_Services&cid=1004321421261&channel=YM

NIB, for all their bad publicity, offer an excellent current account if you can live without an overdraft and keep 1 euro in the account. Its called Freebank and you get all the bells and whistles, minus the overdraft, and free banking. After spells with all the others, I'm now with NIB, and fairly happy with the service. Their standard current account, however, is not cheap.
See http://www.nib.ie/0,,33102,00.html

BOI - if you need an overdraft these are the best option as you can pay a flat fee of €11.40 per quarter for 40 free transactions. Or you can just pay 28c per transaction. Be warned however, that BOI get VERY nasty should you get into trouble on an unauthorised overdraft, and you will see charges on statements that amount to as much a 29% interest rate. They used to be very bad to deal with once you had financial difficulties, a simple phone query would end up in infinite numbers of transfers and very difficult to make arrangements - they prefer you to just pay outrageous charges and leave you to stew, offering little helpful or practical advice.
See http://www.bankofireland.ie/html/gws/personal/day_to_day/current_account_charges/index.html

Ulster bank offer a lifestyle package, which ranges from 9-14 per month, but includes an overdraft, and may be cheaper than the AIB option. Their basic current account, however, is similar to the PTSB or NIB options, except that you need to maintain a 500 euro balance for free banking - less than the PTSB option, but you at least always have the option of arranging an overdraft if you need it or want the safety net. They are supposed to be very easy to deal with.
See http://www.ulsterbank.com/new/roi/products/roi_p_current_accounts.asp

I've found different banks sometimes vary in terms of service from bank to bank, or the service depends on your account type. For example, BOI really treat you like SH*T on their shoe if you've a cash account, or if you've having financial problems. AIB are the quickest if you want to lodge a cheque and the get the money quickly, but I was surprised to see that a cash lodgement lodged to NIB at 10am was available by 13:00!!! However their EFT transfers are sometimes slow (though they'll usually tell you that the amount is available, even if it doesn't appear as your actual balance, which I find bizarre). BOI and AIB are by far the fastest for processing transactions - NIB are a bit slow for laser transactions. Apparently PTSB treat people on social welfare like the plague (so a friend has told me), and most banks only really get helpful once your salary is paid in directly.

The alternative to a current account, if you want to save money, is a cash account - Ulster Bank offer a "dual account" and NIB a "cash master account" which allows you free banking, usually with direct debit, standing order and ATM facilities. You'll earn interest on these accounts, but they may not suit you if you need more facilities. But think of how often you REALLY need a chequebook, or overdraft, and you may find that a more basic account may suit you.

There is a wealth of information on the IFSRA site at http://www.ifsra.ie/frame_main.asp?pg=%2Fconsumer%2Fcr%5Fintr%2Easp&nv=%2Fconsumer%2Fcr%5Fnav%2Easp
It gives you all the information above including exact charges in a study on current account charges. Also watch out for new offeriings - BOI and especially AIB are losing customers hand over fist to the smaller banks and will continue to lose more unless they reintroduce transaction free banking - they will probably do this at some point.

Trojan

Wow shoegirl, thanks for all that info! Having a look at IFSRA now - I'll report back in a few weeks when I've decided what to do.

Al.