Postbank is open for business!

eth0_

Anyone know? Nice to have another alternative seeing as Halifax has turned out to be crap.

flogen

Are you sure they're going to have current accounts? I thought their licence (or at least agreement with Forfas) was only for savings, loans and credit cards.

BuffyBot

I'm pretty sure that current accounts are on the cards also, but it wasn't an immediate priority.

Jet Black

What about the queues??:eek:

I hate the post office. I go everyday for our business post and its out the door.

Look forward to see how they handle this.

I know all banks dont want customers in there branch and are trying to get everyone out and online.

Breacaire

eth0_ wrote: »

Anyone know? Nice to have another alternative seeing as Halifax has turned out to be crap.

PostBank has just just launched their Current Account. It called the "everyday Account. It should be rolled out to all the Post Offices by the end of May.

stepbar

Why Postbank? Unless you've had a bad experience with the other retail banks out there I wouldn't be considering a Postbank a/c TBH. The Post Office is simply not equipped to be offering sound financial advice to customers. It's the post office for god sake. Most of the retail banks can offer free advice in terms of savings, pensions, life cover, credit facilities etc. Aside from working in a bank, and as a customer, it wouldn't be my first port of call.

leche solara

stepbar wrote: »

Most of the retail banks can offer free advice in terms of savings, pensions, life cover, credit facilities etc.

The advice available in most retail banks is rarely impartial, and although postbank are unlikely to be impartial either they are open far longer hours incl. Saturdays than commercial banks

Blackjack

flogen wrote: »

Are you sure they're going to have current accounts? I thought their licence (or at least agreement with Forfas) was only for savings, loans and credit cards.

I Take it you mean Fortis?

BuffyBot

The Post Office is simply not equipped to be offering sound financial advice to customers. It's the post office for god sake.

I would imagine as it and other products rolled out, the staff will be up trained to deal with queries.

eth0_

Just noticed that An Post's Postbank is now open for everyday banking, current accounts with ATM/debit (Maestro - a real maestro card by the looks of it) card.

https://www.postbank.ie/portal/start.asp?

snubbleste

Looks interesting
With the Maestro card, they charge €2.50 for non-euro debit transactions
and €5 for non-euro ATM withdrawals

The online banking bit looks like a headache to deal with but is secure. So you'll need a card & a digi device.

1. You need to have your Current Account Card available
2. You need the BankSmart device to read your Card
3. You'll get an 8 digit onscreen code to enter into BankSmart (this code is different every time)
4. You need your Card's PIN code to enter into BankSmart
5. You'll get a once-off ‘electronic signature' to enter on the Log In screen.

Slice

real maestro card by the looks of it

What do you mean by that? Are there banks circulating fake maestro cards?

Davy

Slice wrote: »

What do you mean by that? Are there banks circulating fake maestro cards?

I think he means the where they are accepted etc, because there is a big difference between cards it seems, see link if your want to get of a taste linky

Slice

So has anyone switched to these guys yet?

Davy

yes, got account set up bout 2 weeks ago. The online banking is a little strange, but ok. Waiting for more post offices though, not a great choice at the minute.

sitstill

Their debit card is branded just as Maestro, not Laser.. Will it work ok in shops here? I'd be a bit worried about the sales assistants "we don't take Maestro"

BuffyBot

It should work fine.

I quite like their current account offer, it will be interesting to see if they will take their credit card in house instead of the OneDirect/MBNA card that is currently on offer.

GerardKeating

sitstill wrote: »

Their debit card is branded just as Maestro, not Laser.. Will it work ok in shops here? I'd be a bit worried about the sales assistants "we don't take Maestro"

The laser brand is being phased out, in favour of Maestro. Many newer Laser Chip&Pin cards also have the Maestro application on them.

A POS machine in RoI will automatically select the Laser application, whereas abroad the Maestro application will be accepted.

Our man in Havana

How long after opening that account did you get your online banking set up?

baguio

snubbleste wrote: »

With the Maestro card, they charge €2.50 for non-euro debit transactions
and €5 for non-euro ATM withdrawals

isn't that a tad expensive!? Is there a comparison between current accounts for this fee on the interweb somewhere?

Its got to be one of the biggest rip offs going.

As regards the postbank account, (being the cheapskate that I am!), I only set one up to get the free GAA jersey . However, I am thinking of switching my current account over from Ulster Bank - as its convenient with my local post office not closing for lunch (whereas UB do) and with no fees being applied...

corkgal1981

Hi,
I work for An Post. Doesnt seem like people are aware that AIB banking is actually available in post offices for years now. We're ever so slightly more trained than bank clerks - banking, postal services, passports, tv licences, billpay, insurance, savings & investments, .........

BuffyBot

I notice their FAQ's say that cashback isn't available on their Maestro card yet. Has anyone tried it? Is it still the case, or is their site out of date?

Our man in Havana

Cash back is not yet available. Still limited acceptance amongst merchants. Tescos, Aldi and Lidl don't accept maestro.

Also the card cannot be used for internet shopping.

Davy

Bond-007 wrote: »

Also the card cannot be used for internet shopping.

Whats the reason it cant, if it can be used worldwide, anywhere their is maestro?

Our man in Havana

I asked Postbank and they told me it is disabled for cardholder not present transactions. They do not want to be getting involved in disputes between account holders and retailers i.e. they don't want anything to do with chargebacks etc.

I have attempted to order stuff online and the card is not accepted. I has a merchants machine with Ulster Bank so I did a few tests (€5 sale) to see what you can do with Maestro.

Chip and Pin: works.
Swipe and sign: declined.
Manually keyed number: declined.
Cardholder not present: declined.

Based on the above the card is useless for online shopping or for use in non chip and pin countries.

Davy

Bit of a step in the wrong direction this day in age.

Our man in Havana

Agree 100% with you.

BuffyBot

Bond-007 wrote: »

I asked Postbank and they told me it is disabled for cardholder not present transactions. They do not want to be getting involved in disputes between account holders and retailers i.e. they don't want anything to do with chargebacks etc.

I have attempted to order stuff online and the card is not accepted. I has a merchants machine with Ulster Bank so I did a few tests (€5 sale) to see what you can do with Maestro.

Chip and Pin: works.
Swipe and sign: declined.
Manually keyed number: declined.
Cardholder not present: declined.

Based on the above the card is useless for online shopping or for use in non chip and pin countries.

Nasty. Funny how they seem to fail to mention that anywhere...

Slice

Chip and Pin: works.
Swipe and sign: declined.
Manually keyed number: declined.
Cardholder not present: declined.

In other words it about as useless as laser for online transactions?

Our man in Havana

Actually it is less useful than laser. At least some websites accept laser, road tax etc.

Davy

Slice wrote: »

In other words it about as useless as laser for online transactions?

Prob worse,, some irish operations takes laser, Cdwow, buy4now, o2 etc...

beaten to it ... :rolleyes:

kittensoft1984

I know this is an old thread but Im wondering does anyone know if this has been fixed?

Im thinking of opening an account with postbank and want to get as much info as possible!

Cheers

Davy

kittensoft1984 wrote: »

I know this is an old thread but Im wondering does anyone know if this has been fixed?

Im thinking of opening an account with postbank and want to get as much info as possible!

Cheers

afaik not yet. I have since closed my account.

Our man in Havana

Nope. The card is even less useful now. In the UK it only works in Sainsburys ATMs. It took me ages to get a few quid out one day. They need to join the link system.

Postbank has gone downhill totally. I reckon it is run by about 10 people. Their customer service is terrible. They won't even follow the financial regulators guidlines for dealing with disputes. I am in the process of closing my account.

redroar1942

Might be an indication of what will happen if the government end up taking a stake in the Irish banks.:(

stepbar

redroar1942 wrote: »

Might be an indication of what will happen if the government end up taking a stake in the Irish banks.:(

Yep :rolleyes:

BuffyBot

redroar1942 wrote: »

Might be an indication of what will happen if the government end up taking a stake in the Irish banks.:(

I'm intrigued. Please flesh out your comment, because I'm failing to see any logic or reasoning behind it other than a post for the sake of a post..

maddensean

Hi all,

Here we are in the Year of our Lord, 2009, and here are my experiences with postbank for the past 12 months or so.

1. The card can't be used online . Full Stop.
2. LOTS of retailers still do not accept PostBank Mastero Card, as recently as Aldi, July 09 (Is aldi not one of the biggest supermarkets in Ireland??)
3. Customer service - Shockingly poor.. Usual trademark "waiting for retailers" to upgrade there system, to take mastero" or "Ask for the manager if it does not work" to, of which was the best yet " tell the girl on the check out its a mastero, maybe there pressing the wrong button & pressing MasterCard" - try telling that to a 25yo Eastern European in Aldi!
4. Worst online service to date. You need to carry around this stupid "BankSmart" device, even just to log on to check balance etc, Why , oh why do we have to use this stupid little thing every time i want to check balance etc.
5. Using the card abroad (spain, uk, usa) is just as tricky, with many retailers not accepting it,

and on a different note, i've jsut switched to Halifax & got there shiny new Visa Debit card, but, alas, i hear over the weekend that there going to be shut down soon... gutted!

End of Rant...

Executive Summary: Postbank = Crap-ola, dont go there...

Our man in Havana

I agree 100% with you on all of the above.

The worst thing is the 14 day clearing period for cheques, like wtf this is 2009 not 1909.

Vananna

I've been with Postbank since they came to be and I am very close to closing my account with them. They are the most inefficient crowd I've ever had to deal with. I started a new job recently and my first months salary was paid by cheque. I lodged it into my account, left it for 3 working days, went to take money out to be told I had insufficient funds, it was only when I rang the bank that I learned that it takes 10 working days for a cheque to clear as " we are not a clearing bank"!!!!!!!!!!!!!!!!!!! What in god's name is that all about???? I had just about got my head around the craziness of having to use the stupid smartcard device in order to go online to check my account and now this!!!!! I really want to switch to some other bank but I really don't want the hastle it entails. It can take forever!! Can anyone recommend a good bank to switch to??

Our man in Havana

Halifax. I have never looked back. Postbank are they worst.

Toots

Any bank really, opening a current account is usually a fairly hassle free procedure.

Our man in Havana

Not really.

Many want detailed history, PPSN etc. Others are less intrusive.

Toots

They can only request your PPSN if you are opening an interest bearing current account. It's because of the new taxation of savings leglisation. Also, you don't have to provide PPSN on opening the account, you may have to sign to say that you will provide it to them at a later date, but they can't refuse to open an account for you on the basis that you don't have/don't have proof of your PPSN.

stepbar

Bond-007 wrote: »

Not really.

Many want detailed history, PPSN etc. Others are less intrusive.

So?

Our man in Havana

I would rather not bank with those people.

Toots

Bond-007 wrote: »

I would rather not bank with those people.

they have to ask, it's government legislation. Personally I think it's an absolute pain in the arse, speaking both as staff and as a customer, it's just more paperwork and hassle, but unfortunately the powers that be say we have to do it. You can also refuse to give your PPSN if you wish, the branch just has to note it on the form, but they'll still open the account for you.

Our man in Havana

I think you have me wrong. I have no problems with government requirements. It is the non required info that annoys me. I had one bank wanting payslips, P60, etc just to open a basic current account. I was not looking for credit in any way shape or form.

Toots

Bond-007 wrote: »

I think you have me wrong. I have no problems with government requirements. It is the non required info that annoys me. I had one bank wanting payslips, P60, etc just to open a basic current account. I was not looking for credit in any way shape or form.

Wow! :eek: That's not right, I'm pretty sure they're not allowed to do that. Something to do with the Data Protection act and what the information is going to be used for.

stepbar

Toots* wrote: »

Wow! :eek: That's not right, I'm pretty sure they're not allowed to do that. Something to do with the Data Protection act and what the information is going to be used for.

They're well entitled to ask Toots under the guise of Anti Money Laundering. Some don't bother. In fairness I would be very reluctant to open an account for someone who couldn't verify an income. There are plenty of dodgy folk out there attempting frauds etc. Unfortunatly the minority make life hard for the majority.

Our man in Havana

The thing is that the way some banks operate their account opening procedures they are basically criminalising being unemployed/on state benefits by refusing them service. I won't name them but they are major banks with government backing.

I went into Halifax who used to be the very worst for asking for extra info, I opened a basic current account with just a passport and one bill and that was all that was required. I had my account opened straight way and had my visa debit card within a week. They did not want my life history, income details or what I ate for breakfast. It is amazing what a recession will do. A year ago it would have been impossible.

If a bank won't open an account for an unemployed person purely because they are unemployed there are plenty of other banks that still will.