The cost of AIB's free banking

Butch Cassidy

http://www.aib.ie/personal/current-accounts/Personal-Bank-Account

AIB boast free banking with them but only if you do a debit transaction on the internet or by phone once a quarter. I'm skint, have no job and no debit transactions to make so for the first time in a few years they decided to charge me this quarterly fee. Up until now I was buying phone credit online which was grand. Now I'm not and I've under 50quid left in my account.

I haven't had any money deposited into my account in a few months. Is there any basis I could ask for the quarterly fee back? I don't have an overdraft so what would happen if there wasn't enough funds in the account to pay for the fee?


The FEE-QTR TO 27AUG10 was €9.90. Can I find out what makes up this fee? Quarterly account maintenance is €4.50.

dotsman

Butch Cassidy wrote: »

http://www.aib.ie/personal/current-accounts/Personal-Bank-Account

AIB boast free banking with them but only if you do a debit transaction on the internet or by phone once a quarter. I'm skint, have no job and no debit transactions to make so for the first time in a few years they decided to charge me this quarterly fee. Up until now I was buying phone credit online which was grand. Now I'm not and I've under 50quid left in my account.

Why do you have a bank account if you never use it? (I don't mean that in an attacking tone by the way:)) But it sounds like you would be better off just closing the account.

I mean, even with the most basic of usage, you would purchase phone credit once in three months. Likewise, you would likely make a purchase over 10 euro in value that can be paid via debit card. It's almost impossible for someone who uses a current account not to fulfill these extremely basic conditions.

Butch Cassidy wrote: »

Is there any basis I could ask for the quarterly fee back?

You can try, but there would be no "basis" so to speak.

Butch Cassidy wrote: »

I don't have an overdraft so what would happen if there wasn't enough funds in the account to pay for the fee?

They would demand payment by a certain date. If you failed to meet this date, and you continued to ignore their letters, they would close the account, writing off the bad debt (it's not worth their while taking someone to court over a few euro!), and your credit history would reflect this for years to come preventing you from ever borrowing from any reputable source.

Butch Cassidy wrote: »

The FEE-QTR TO 27AUG10 was €9.90. Can I find out what makes up this fee? Quarterly account maintenance is €4.50.

Their list of fees is here. If you still don't think that the 9.90 is incorrect, I'm sure they will be able to tell you in your branch.

Butch Cassidy

dotsman wrote: »

Why do you have a bank account if you never use it? (I don't mean that in an attacking tone by the way:)) But it sounds like you would be better off just closing the account.

Because I did use it when I was receiving a wage into it. Unemployed = no wage.

dotsman wrote: »

They would demand payment by a certain date. If you failed to meet this date, and you continued to ignore their letters, they would close the account, writing off the bad debt (it's not worth their while taking someone to court over a few euro!), and your credit history would reflect this for years to come preventing you from ever borrowing from any reputable source.

Black listed cause I decided to leave a few quid in a bank account that couldn't cover the free cost of banking cause I didn't have the money in it to perform a debit transaction to avail of the free banking. Great stuff.

dotsman

Butch Cassidy wrote: »

Because I did use it when I was receiving a wage into it. Unemployed = no wage.

I understand that. What I mean is that you don't need it at the moment. Therefore, you have 2 options. Pay to keep it open, or close it and reopen an account when you do need it again.

It's just like maintaining a sky/ntl account if you don't have a tv.

Butch Cassidy wrote: »

Black listed cause I decided to leave a few quid in a bank account that couldn't cover the free cost of banking cause I didn't have the money in it to perform a debit transaction to avail of the free banking. Great stuff.

Unfortunately, that's the way it is. It costs the bank money to maintain your account. There going to charge you for it if they're not making money any other way.

Ogham

Why not move to a bank that is FREE - with no silly term and conditions - such as Ulster Bank ?

Butch Cassidy

Ogham wrote: »

Why not move to a bank that is FREE - with no silly term and conditions - such as Ulster Bank ?

Ulster Bank are properly free with no silly strings attached yeah?

Davy

Butch Cassidy wrote: »

Ulster Bank are properly free with no silly strings attached yeah?

Yes, PTSB is also free

LevelSpirit

I called AIB and said "Im sick of your stupid rule about 1 laser and 1 bill pay to get free banking. Do you want me as a customer or should I just p1ss off then."

They gave me unconditional free banking. It makes no difference to them. Ive told friends to do this too and its worked for them.

Butch Cassidy

Are you sure about that? As it stands now I have technically not completely complied with their rules because I didn't do a debit transaction online or on the phone so they've charged me a tener. If I were to ring them up and say "do away with your stupid rule" they'll lose that money they're going to be charging me.

absolutegroove

Davy wrote: »

Yes, PTSB is also free

Not sure about that anymore.

Click the link and click on the "How to qualify for free everyday transactions".

https://www.permanenttsb.ie/whatweoffer/currentaccounts/currentaccount/

Looks like a possible fee of €12 will apply per quarter.

dlambirl

I may be wrong but I understood that AIB is free banking when you make TWO or more transactions through 24 hour banking. Maybe you were only making one per quarter, which was why you were been charged.

Fee's were deducted from accounts there last week - €25 or so came out of my account but was put back in by AIB as I had done my required online transactions to qualify for free banking, have you checked that the fees charged did not go back in?

dotsman

absolutegroove wrote: »

Not sure about that anymore.

Click the link and click on the "How to qualify for free everyday transactions".

https://www.permanenttsb.ie/whatweoffer/currentaccounts/currentaccount/

Looks like a possible fee of €12 will apply per quarter.

18 debit card transactions per quarter? And people are complaining about AIB asking customers to do 1? Fcuk, when did that come in? I'd say that would catch a lot of people out, as you would have to use the card regularly (more than once a week) to meet those criteria.

Butch Cassidy

Right so who can confirm what banks have proper "free" banking ie. no fees at all regardless of silly terms and conditions. I need a bank minus these stupid fees but without the hassle of jumping through the hoops.

almalahide

Butch Cassidy wrote: »

Right so who can confirm what banks have proper "free" banking ie. no fees at all regardless of silly terms and conditions. I need a bank minus these stupid fees but without the hassle of jumping through the hoops.

Currently only Ulster Bank. If you were looking 6 months ago you would have Ulster Bank, PTSB and The Halifax to choose from!

keary79

if you look at the terms and conditions of having a current account with the banks charge fees whether quarterly or otherwise
just check out the websites.
the main the is to keep your accounts in order and not to miss d/ds and s/os and not to go overdrawn.

Fiona_242

Does anyone know AIB's quarterly fee schedule? I cannot find it on line and they don't even know in branch.

_ciaran_

I think it's the 15th of every quarter

BuffyBot

Please dont bump old threads. There are lots of more recent topics on this matter.