Irish banks & cash withdrawls abroad!

Dizzz

Just wanted to vent some anger here! I'm away on an around the world trip for a year with my girlfriend and we're in Thailand at the moment. Before we left we both rang our banks (I'm with BOI and she's with AIB) to tell them we were travelling and to note on our accounts so they wouldn't be cut off for fraud alert or anything.

Anyway my girlfriend goes to take out cash the other day to pay for our hotel (which won't take cards) and the machine keeps telling her "invalid amount" so she tries half the amount and still the same. Strange, so we try a few more bank machines and all the same so she rings AIB to find out whats going on and they tell her they've just introduced a €100 cap on ATM withdrawls abroad. Thai banks introduced a charge for foreign ATMS too a while ago charging 150 baht (€3.55) per transaction so she's getting charged this and the €1.27 AIB charge for foreign withdrawls from AIB and she has to pay all this every time she has to take out €100! What a joke, it's your account and your money & we have our own system to prevent card skimming etc by using seperate accounts etc. They were totally inflexible on the phone (and the girl was a dumb ass)

Then Bank of Ireland, they're not capping my maximum amount (as far as I know, it let me take out 10,000 baht anyway) but I just looked at my bank account there and where I took out 10,000 baht (10,150 baht after Thai bank charge) they charged me another €8.60! What a joke! Mightn't seem like much to some but not only does that money get you a long way in this part of the world but seen as we're away for a year and this is going to be the case every time we take out cash I'm seriously not impressed! €8.60 with BOI vs €1.27 with AIB and a rediculous limit!

:mad::mad::mad::mad::mad::mad::mad:


*rant over*

Nody

All banks charges a fee for foreign ATM withdrawls; it is usually a fixed amount + percentage (i.e. 1 EUR + 2% of amount or similar) so I'm not sure why you are suddenly surprised about it?

Short of bringing it all cash you're going to pay for it, either via ATM charges, CC charges or travel check charges. That if anything is something you should have been aware about before you set out to travel for a year.

Now if you want to reduce that your best bet is to look at transfer to a local bank (enquire which banks they cooperate with for lowest charges), UPC/Fedex/DHL etc. packages (have them sent with 48h delivery to your hotel with insurance) or Western Union like transfers (don't know these type of fees on the top of my head).

keithclancy

Load money on your credit card with MBNA and you dont pay any withdrawl fee, only and exchange fee.

BOI have (or at least did have) a 1000 euro limit per day abroad on Maestro.

Saying that, AIB brought in those limits due to concerns from customers.

youcancallmeal

When I was traveling for the year I just used my BOI credit card at every ATM I went to. I would transfer the money onto my credit card as and when I needed it. Worked out perfectly and never received any charges for withdrawing money. That was 2 years ago, maybe things have changed now?

3DataModem

Your bank has to pay the ATM owner a % or fee every time you use it.

Just FYI

Dizzz

The ATM owner is charging 150 baht though (€3.66) maybe they're double charging, you and then your bank as well.

@ Nody: I knew there would be fees and expected them to be in line with what AIB are charging (€1.27 per transaction) but Bank of Ireland are charging 3.5% with a minimum of €3.17 which in my eyes is extorsionate. If I withdraw €10,000 while I'm away for the year (will probably end up being more) I'm paying €350 in charges on top of the fee for having a debit card and then these new fees because I don't have over €1,000 going into my account in a month. Makes me want to stay away & live somewhere else, rip off Ireland indeed.

cordub

keithclancy wrote: »

Load money on your credit card with MBNA and you dont pay any withdrawl fee, only and exchange fee.

BOI have (or at least did have) a 1000 euro limit per day abroad on Maestro.

Saying that, AIB brought in those limits due to concerns from customers.

I used to that till i was informed of something by an MBNA staff. If your credit card is skimmed or taken and you have a CREDIT amount in it ie if you put 3000 in for spending , you loose the credit amount as you are only covered for the minus amounts they use because seemingly a credit card is soley that and not a bank card , money should never be lodged into the account so BEWARE !!!!!

cordub

I used to that till i was informed of something by an MBNA staff. If your credit card is skimmed or taken and you have a CREDIT amount in it ie if you put 3000 in for spending , you loose the credit amount as you are only covered for the minus amounts they use because seemingly a credit card is soley that and not a bank card , money should never be lodged into the account so BEWARE !!!!!

ardmacha

Irish banks don't own these ATMs or the international networks that connect them, so have limited ability to provide charge free service. We do receive excellent value not having extra charges throughout the Eurozone.
AIB is engaging in sharp practice though by limiting withdrawals and continuing charging a high minimum charge. Somebody may have requested a limitation on ATM withdrawals, but it was not the OP.

keithclancy

cordub wrote: »

I used to that till i was informed of something by an MBNA staff. If your credit card is skimmed or taken and you have a CREDIT amount in it ie if you put 3000 in for spending , you loose the credit amount as you are only covered for the minus amounts they use because seemingly a credit card is soley that and not a bank card , money should never be lodged into the account so BEWARE !!!!!

Indeed, you receive no more protection than if you bring cash or Debit Card.

blorg

The ridiculously low 100/day limit with AIB is new and was unannounced, so telling people they should be ready for it is ridiculous. It is a major problem.

pmurphy00

100euro limit is a joke..took out $300 in phnom pehn 4 days ago and had to pay $6 fee +1.27 from aib:eek:...

geecee

I have spoken to the AIB internet banking about this just now and they are claiming that the "government" has made them do it

I am so annoyed about this.
It is my opinion that this is actually a method for the AIB to extract more money from their customers in overseas transaction fees

I already had a complaint into my branch about the 250 Limit...

This new limit is absolutely ridulous!

Does anybody else have any suggestions for cost efective withddrawls when travelling?

They have already done away with travellers cheques...

keithclancy

geecee wrote: »

I have spoken to the AIB internet banking about this just now and they are claiming that the "government" has made them do it

I am so annoyed about this.
It is my opinion that this is actually a method for the AIB to extract more money from their customers in overseas transaction fees

I already had a complaint into my branch about the 250 Limit...

This new limit is absolutely ridulous!

Does anybody else have any suggestions for cost efective withddrawls when travelling?

They have already done away with travellers cheques...

Its clearly advertised on their site:

http://www.aib.ie/personal/current-accounts/AIB-Debit-Card

ATM

* Use your card for cash withdrawals from ATMs in Ireland and worldwide (up to a daily limit of EUR600) where the Banklink/LINK/Maestro symbol is displayed. Please note: at some ATM’s abroad, particularly in non-European locations, the daily cash withdrawal limit may be reduced to EUR100 or less.

Local ATM limits may also apply.
* Top up any Meteor, O2 or Vodafone mobile with 085, 086 and 087 numbers only.
*
Change your PIN at most AIB Banklink ATMs where the card remains in the machine for the duration of the transaction.

Man... if someone skimmed your card and raided 1000 euros from your account you'd be raging.

Get a credit card, even then tell them your going to Thailand as they may block your card. Card theft is rampant there.

geecee

That is a recent change on their website... so i would hardly call they changing the T&Cs with minimal notice to be "clearly advertised"

Actually i had 5000 skimmed from my card here in Ireland.. so its as likely to happen in Ireland as in any other country.

My point is that there should be an opt-out with indemnity option.
Alternatively they should bring back travellers cheques

Or have a system that does not allow mutliple large withdrawls on subsequent days.

keithclancy

geecee wrote: »

That is a recent change on their website... so i would hardly call they changing the T&Cs with minimal notice to be "clearly advertised"

Actually i had 5000 skimmed from my card here in Ireland.. so its as likely to happen in Ireland as in any other country.

My point is that there should be an opt-out with indemnity option.
Alternatively they should bring back travellers cheques

Or have a system that does not allow mutliple large withdrawls on subsequent days.

If it annoys you that much then change bank.
IMO I never use Maestro abroad, its too damn flaky anyway and doesnt work everywhere. I.E. my Dutch Maestro card doesn't work in some Irish supermarkets.

Stinicker

Am in Thailand also and was charged €8.60 by BOI along with with the 150bt fee which is a thai government thing. A 10,000bt withdrawal was the maximum I could make by laser also.

Another tip in Thailand is when you go to withdraw money (either by Laser or Credit Card) usually the ATM will offer to fix the exchange rate for you showing 10,000bt = €250 etc. This will always be at a disadvantageous exchange rate and one ATM I used was offering me basically €1=39bt and when I declined and checked later online I got €1=41.6bt, so avoid this to save yourself some money, however if there was massive volatility or something then it might be the better choice, eg. a westerner in Libya etc.

Best bet is forget about laser cards altogether outside of the EURO area and load the money to your credit card and withdraw that way instead.

I wish Laser cards would just die off, such a uniquely stupid Irish thing and good for nothing other than costing you money. I will be closing my accounts with BOI unless I am refunded the €8.60 charge, shower of crooks!

Wudyaquit

Summary of the charges on main credit cards might be of interest. Load of balls tho - most of the UK banks have a card that does it for free.

Ulster Bank 2% (min €3, max €12), plus foreign exchange fee of 1.5%
(But if you use ATM in the UK owned by Ulster Bank, Easy Cash,Royal Bank of Scotland or NatWest , you will not be charged.)

AIB – Currency conversion fee of up to 3% (depending on currency) plus commission of 1% (min €1.27, max €6.35)

BOI 3.5% (min €3.17, max €11.43)

NIB 3.5% (min €3.17, max €11.43)

Postbank €5.00 flat fee.

PTSB 3.5% (min €3.17, max €11.43)

Figures checked August 2010

Taken from:
http://www.moneyguideireland.com/atm-charges-for-non-euro-cash-withdrawals.html

Panrich

Do these charges only apply in exotic places like Thailand? I've never been charged on my Ulster Bank card for withdrawing money in GB, Spain Portugal etc.

blorg

They apply outside the eurozone. As posted Ulster Bank seem to make an exception for certain ATMs in the UK. No charges inside the eurozone.

These charges are YOUR bank; there may be an additional charge from the local bank in some countries (such as Thailand & USA.)

Corruptedmorals

Wow, glad I know that now about AIB's limit. Not sure if they will class America in the same category as Thailand but best to be prepared. A bit off-topic, but my credit card is a student one and the limit is €600. I can't remember if I can load money onto it beyond the limit, can I? Ideally I would want €1500 on it. If not I'll use the Laser/Maestro.

blorg

AIB's limit is everywhere outside Europe AFAIK. The limit on your CC is how much you can be in debit, you can put as much money onto it as you like. ATMs in the US charge a transaction fee so I would certainly recommend putting money on the CC if with AIB.

UglyBolloxFace

blorg wrote: »

AIB's limit is everywhere outside Europe AFAIK. The limit on your CC is how much you can be in debit, you can put as much money onto it as you like. ATMs in the US charge a transaction fee so I would certainly recommend putting money on the CC if with AIB.

Just a quick question - is Switzerland classed as outside of the Eurozone? (obviously I know they are not part of the Euro currency etc).
So when I use a UK debit card in Switzerland, will I be ripped off?

Wudyaquit

UglyBolloxFace wrote: »

Just a quick question - is Switzerland classed as outside of the Eurozone? (obviously I know they are not part of the Euro currency etc).
So when I use a UK debit card in Switzerland, will I be ripped off?

Looks like you will be charged -

Transactions in euro incur no other charges.
Non-Euro Transactions also attract additional charges as follows:

* Purchase transactions in any currency other than euro attract a currency conversion fee of 1.75% (minimum EUR0.46, maximum EUR11.43)
* ATM withdrawal cash transactions in any currency other than euro attract a currency conversion fee of up to 3% (depending on the currency) and also attract a commission charge of 1% (minimum EUR1.27, maximum EUR6.35).

So, looks like anywhere not using the Euro is counted. Although, Switzerland is included in the Mastercard Europe region so gets lower charges if you've an MC

blorg

Switzerland I expect you would be charged a fee but I don't think it would be subject to AIBs €100 daily limit which I was talking about (as it is in Europe.)

ShaneIRL

I was in an AIB branch yesterday and was asking the Customer Service desk about this as I intend on travelling outside of Europe in the coming weeks. They basically said that the withdrawl limit applies to both debit and credit cards so basically the options available are

1. Bring loads of Cash
2. Bring as many cards (debit and credit) as you can and withdraw from each
3. Dont go

Crazy really

munchkin_utd

Stinicker wrote: »

I wish Laser cards would just die off, such a uniquely stupid Irish thing and good for nothing other than costing you money. I will be closing my accounts with BOI unless I am refunded the €8.60 charge, shower of crooks!

They are dying off. AIB is the only one still issuing them!
(source: from wikipedia, but it was on RTE a while back when the second last major bank jettisoned the yokes so that stuck in my mind)

Anyhow, the only way to go is to pay for as much as possible by credit card and to preserve your cash.

If you have a stash of cash before you go (even in euros) and pay the major bills like tours and hotels with credit card, your need for cash is greatly reduced.

blorg

ShaneIRL wrote: »

I was in an AIB branch yesterday and was asking the Customer Service desk about this as I intend on travelling outside of Europe in the coming weeks. They basically said that the withdrawl limit applies to both debit and credit cards so basically the options available are

1. Bring loads of Cash
2. Bring as many cards (debit and credit) as you can and withdraw from each
3. Dont go

Crazy really

You missed one: change bank. If I wasn't already abroad I would do so. FWIW, there is no €100 limit on my AIB-issued credit card, which I put on credit and started using after they limited the debit cards. It is possible telling that was an error, although maybe there is a limit on some of them but not others.

Java77

i am with ulster bank and i am going 2 spain for hoidays in june, i am switching to an atm account for the trip. so am i able to just take money out of any atm over there??

funnyname

I was in Edinburgh at the weekend and made two cash withdrawals using my PTSB visa debit card, both were for £200 and I also used my card for a purchase for £86.50.

The atm transactions both attracted a charge of €8 and the purchase had a fee of €1.73.

Seems very expensive to me, will have to look at alternative for my next visit abroad.

An Ghaeilge cac

There is a way around these fees:

Go into the bank and say your ATM card won't work. They can transact the amount you require and your account will only attract a nominal fee.

Not all banks will allow this, but it's worth persevering as you'll save a considerable amount of dosh v using an ATM.