I'm 17: Who to open a Current A/C with?

jc2008

I would like to open a Current A/C, and I'm 17 years old.

Who would be the best to go with?

I was considering Post Office PostBank as they give you a Maestro ATM/Debit Card which you can use at ATMs and at POS in shops.
Whereas in Bank of Ireland, they just give you a 365 ATM Card, which can't be used at POS afaik.

I'm not sure who to go with. I'd say the choice is probably between Post Office PostBank, Bank of Ireland, AIB, and Ulster Bank. If it's any indication I will probably be going to either UCD or DCU next year so I would like to be a member of whichever banks operate in those universities.

Is there an age limit for Laser cards? (Their website seems to be down at the time of writing). Because if I was able to get a laser card at the age of 17 I could link it to one of my Current A/C's, couldn't I?

Thanks for reading.

jor el

Moved to banking.

Solair

jc2008 wrote: »

I would like to open a Current A/C, and I'm 17 years old.

Who would be the best to go with?

I was considering Post Office PostBank as they give you a Maestro ATM/Debit Card which you can use at ATMs and at POS in shops.
Whereas in Bank of Ireland, they just give you a 365 ATM Card, which can't be used at POS afaik.

I'm not sure who to go with. I'd say the choice is probably between Post Office PostBank, Bank of Ireland, AIB, and Ulster Bank. If it's any indication I will probably be going to either UCD or DCU next year so I would like to be a member of whichever banks operate in those universities.

Is there an age limit for Laser cards? (Their website seems to be down at the time of writing). Because if I was able to get a laser card at the age of 17 I could link it to one of my Current A/C's, couldn't I?

Thanks for reading.

When it comes to Laser Cards, Bank of Ireland always seem to be the most technologically backward of the Irish banks.

AIB and quite a few other banks issue Laser/Maestro cards as standard on all current accounts.

I think the Bank of Ireland practice goes back to the old days, before Chip and PIN when not every Laser Card transaction was processed electronically. So, in theory it was possible to spend money that you did not have, and had no authorised over draft for. So, they simply adopted the same approach to Laser as they would have done to Cheques.

In this day and age it's a bit of a weird policy as there is basically no risk to the bank with debit cards. Transactions area authorised live, and if you don't have the funds the card will be declined.

I'd say have a word with AIB, Ulster Bank, National Irish etc.

AIB also gives you the added advantage of being able to lodge / withdraw cash with your Banklink Card (Maestro/Laser) at any post office.

Halifax's Debit Card is Visa Debit, which is much more widely accepted online than Laser/Maestro.

NB: The Maestro system is currently not harmonised for online transactions. E.g. you will not be able to use an Irish issued Maestro on a UK website, or a UK issued Maestro on an Irish website etc. However, the cards all work when they're physically used in a shop. Basically, Maestro was just an umbrella brand to make the isolated national European debit card systems work in other countries. It's taking them an age to make it work online though.

jc2008

Thanks for the length reply!

I must say I like the sound of being to lodge and withdraw money with an AIB account at the post office - it sounds extremely convienent as the Post Office is located nearer to me than the AIB Bank.

I didn't know Visa Debit was more widely accepted online - in fact I've never heard of Visa Debit (I thought they only did C.C.'s) but I've heard of Maestro. Is Visa Debit recognised outside of Ireland?

If I choose to open an account with AIB, should I go for a 2nd level student account? I don't know if there is much point as I am going into 6th year and will be 18 next May so I will get less than a year's use on it. Will a 2nd level student current account become a normal current account (or possibly a 3rd level student current account) when I reach 18?

Does anybody know whether there is an age limit for Laser cards?

Thanks for reading.

BuffyBot

Visa Debit is a lot more recognised outside of Ireland. It's accepted anywhere Visa credit cards are on and offline.

I believe AIB are issuing Laser cards to pretty much all account holders now. As said above though, it's fine within Ireland for payments, but it's online use is limited to certain websites.

The Postbank card would be rather more limited. Not everywhere accepts it (as it's not a Laser/Maestro card), just a plain Maestro. It also can't be used online, or over the phone to make purchases. It's rather limited in it's usefulness, even more so than Laser.

jc2008

Thanks BuffyBot, you are being very helpful!

BuffyBot wrote: »

Visa Debit is a lot more recognised outside of Ireland. It's accepted anywhere Visa credit cards are on and offline.

Really? That sounds excellent - buying items online is very important to me. I've been using 3V cards, but they are extremely limited and rather awkward to use.

So, anywhere that accepts Visa will be compatible with Visa Debit? So I could use Visa Debit with play.com/cdwow/ticketmaster etc.?

Thanks for replying!

Edit: Just after noticing that Halifax Current Accounts are only for people aged 18+. Nothing is ever simple is it

stepbar

In terms on of DCU / UCD both AIB / BOI have branches either onsite / within walking distance. The rest of the banks cannot match this.

As for the laser card, BOi has recently updated their systems to match that of AIB. Money is debited as the transaction is processed.

dotsman

jc2008 wrote: »

If I choose to open an account with AIB, should I go for a 2nd level student account? I don't know if there is much point as I am going into 6th year and will be 18 next May so I will get less than a year's use on it. Will a 2nd level student current account become a normal current account (or possibly a 3rd level student current account) when I reach 18?

You would open a Second Level Student Account. When you start college, just let the bank know and have it upgraded to a Third Level student account (and after that, have it upgraded to a Graduate account!)

b3t4

Any reason why you aren't concidering PermanentTSB?

I do my banking with them and find them good.