Joint AC's Current/ATM etc.

ibblebabble

Was wondering what strategies people use and why they do it that way. I always seem to have difficulties getting AIB to do anything, and when they do they always seem to find a way to add another charge to it. Getting pissed off with it now.

Was wondering what way people have their accounts setup. We have our wages going into our personal accounts, with our own DD going out of those. Ignoring saving accounts, we have a joint current account we use for all the household stuff, bills, laser and mortgage etc. I thought I had a overdraft on this but we don't. However when asking for overdraft we were refused because our salaries don't go into the account with the mortgage, and because we use the laser from it. I asked what would normally be the setup, and was told that they (AIB) prefer the joint account to have the mandated salaries, and no use of a laser or ATM on that account. They reckon thats how you get overdrawn. (All these accounts are AIB).

We don't DD our salaries from our personal accounts into the joint as we prefer to go through all the bills and only put across what is needed every month and keep an eye on it. Occasionally you get an unexpected rise in a bill, or you don't get to do it for a day or so, and the account gets overdrawn for a day or two.

We're thinking of switching to ptsb and having one current account for the household stuff, with all DD going out of it, and our salaries going into that, and then one other joint account for laser and cash. No personal accounts anymore. At the end of the day theres no difference because if we need the cash or laser we'll still be ultimately getting it from the one source and it could still go overdrawn.

The PTSB didn't seem to care which way it was set up, once theres a good financial pattern to the ingoings/outgoings no matter which accounts they are going in/out from.

nesf

Moved to Business/Economy/Finance

You'll probably get more replies there. Interesting topic though.

gerrycollins

banks use "repayment capablities" when calculating weather to give u a loan/overdraft/mortage etc. When u have ur wages going in and all ur outgoings from the one account the bank will have all the info they need in one place from which they work off. When everything is together they can also see ur spending patterns using laser and ATM currently they cannot see this,also cause ur account goes overdrawn(even by €1)every so often this is unauthorised(even tho the bank allows this baffels me)this goes against you even tho u could earn €1m
Are ur wages paid into different accounts or different instituations?
If u bank with aib u can merge all accounts so the info from all ur accounts can be used to determine ur capabality but each account will still be independant and will require DD etc because if u have different accounts each account is considered a different customer and this looks dodgy to the bank and they just say no

I hop this makes some sense

TempestSabre

It doesn't make sense. They let you go overdrawn, but won't give you an overdraft. But then don't expect customer service from a bank.

davidoco

Avoid DDs or standing orders on your income account -the joint account.

Pay both wages into one current account with a cashcard. Then use a savings account (any bank) for all your direct debits (mortgage, insurance etc). Do not agree to pay your utilities by direct debit, you just pay them online from your current account when you have the money. Each month (or week) you know how much to transfer over to your savings account to cover the direct debits and hopefully over time you will build up a small slush fund there in case in your left short some month.

You can keep as many other "personal accounts" as you want open, but if your using them for regular savings the interest they pay is derisory.

ibblebabble

davidoco wrote:

Avoid DDs or standing orders on your income account -the joint account.

Pay both wages into one current account with a cashcard. Then use a savings account (any bank) for all your direct debits (mortgage, insurance etc). Do not agree to pay your utilities by direct debit, you just pay them online from your current account when you have the money. Each month (or week) you know how much to transfer over to your savings account to cover the direct debits and hopefully over time you will build up a small slush fund there in case in your left short some month.

You can keep as many other "personal accounts" as you want open, but if your using them for regular savings the interest they pay is derisory.

No savings go elsewhere. Essentially what you saying is the way we are doing it. But AIB won't give a overdraft without seeing DD of wages into that account. I suspect, like all things with AIB if you go down and create a fuss they will eventually will do it. They just make it awkward as hell for no real reason.

nlgbbbblth

TempestSabre wrote:

It doesn't make sense. They let you go overdrawn, but won't give you an overdraft. But then don't expect customer service from a bank.

They don't 'let you go overdrawn' - the customer forces credit.

Two different things

Example:

You have €100 in your account. You buy CDs for €54.99 using your laser card. This takes 2/3 days to be debited from your account. In the interim you get drunk and go to the ATM (Ass To Mouth) and check your available balance. It says €100 so you withdraw the lot. A couple of days later the laser transaction hits your account and you go €54.99 overdrawn.

TempestSabre

Why does it take 2/3 days? Its a computer system for cripes sake.

nlgbbbblth

TempestSabre wrote:

Why does it take 2/3 days? Its a computer system for cripes sake.

I do not know.
Laser is not used outside Ireland. Other countries have Switch, Maestro etc. It seems somewhat unsophisticated - like Supermacs.

In any case it's up to the customer to keep an eye on their balance and to ensure they don't go overdrawn. After all the customer is the one writing the cheques/withdrawing the cash etc - - not the bank

dingding

I moved from AIB to NIB the free banking is great, also there are smaller q's in the bank

TempestSabre

Well the problem is theres a lag in their system. I expect when it tells me my balance that its actually correct. Thats the banks problem not mine. Of course all of these "system" delays always seem to generate income for the bank, so its probably deliberate.