Should I bother closing my AIB account?

actuallylike

How do,
I've become sick of the online limitations of the AIB Laser card recently so decided to got to Ulster Bank with their Visa Debit card. Not a place in my life that I want a credit card so seems like the best bet. Was going to open a new account tomorrow and start transferring things over and probably close my AIB but was wondering is their any benefit to it?

Currently I'm working two odd jobs till I finish college (6 days ), but was thinking I might leave the AIB open, cut up my Laser card and leave one job paying into that. Might be easier for me to save if the only way I can get money out of it is by physically going into the bank (I'll try and shut down my 24 hour banking too).

Also, as sad as this sounds, there's a little bit of sentimentality here (not that AIB have done me any favours in that time). Been with them since my first job (£4.25/hr :rolleyes:) so I don't see what I'd lose out on by leaving it open.

Is there any hidden charges I'm missing? If there is a downside to this, sentimentality will be out the window and I'll shut her down.

Thanks.

matt70iu

actuallylike wrote: »

How do,
I've become sick of the online limitations of the AIB Laser card recently so decided to got to Ulster Bank with their Visa Debit card. Not a place in my life that I want a credit card so seems like the best bet. Was going to open a new account tomorrow and start transferring things over and probably close my AIB but was wondering is their any benefit to it?

Currently I'm working two odd jobs till I finish college (6 days ), but was thinking I might leave the AIB open, cut up my Laser card and leave one job paying into that. Might be easier for me to save if the only way I can get money out of it is by physically going into the bank (I'll try and shut down my 24 hour banking too).

Also, as sad as this sounds, there's a little bit of sentimentality here (not that AIB have done me any favours in that time). Been with them since my first job (£4.25/hr :rolleyes:) so I don't see what I'd lose out on by leaving it open.

Is there any hidden charges I'm missing? If there is a downside to this, sentimentality will be out the window and I'll shut her down.

Thanks.

Hi

TBH i would probably close the aib account in your shoes, that is, once you're sure your direct debit have gone across to your ulster bank account. It might be a way of saving, but aib are no longer offering interest on current accounts.

I have a so called high interest current account with them and from June that will be a no interest current account!

Start up a saving account and set up a standing order going from your current account into the savings. I do this, but I also have instant online access to the funds should I need them.

(It's an Aib online savings account)

Whatever you decide, a current account is a waste of time if your not using it for your daily/current banking needs.

Hope this helps

Matt

actuallylike

matt70iu wrote: »

Hi

TBH i would probably close the aib account in your shoes, that is, once you're sure your direct debit have gone across to your ulster bank account. It might be a way of saving, but aib are no longer offering interest on current accounts.

I have a so called high interest current account with them and from June that will be a no interest current account!

Start up a saving account and set up a standing order going from your current account into the savings. I do this, but I also have instant online access to the funds should I need them.

(It's an Aib online savings account)

Whatever you decide, a current account is a waste of time if your not using it for your daily/current banking needs.

Hope this helps

Matt

It does, I'll have to accept that I can collect stamps, football stickers, phone cards...but not bank accounts. I'll wait a bit to see if I get one of those ATM refunds that everyone seems to be getting.

matt70iu

actuallylike wrote: »

It does, I'll have to accept that I can collect stamps, football stickers, phone cards...but not bank accounts. I'll wait a bit to see if I get one of those ATM refunds that everyone seems to be getting.

Ha.. Yeah I reckon the banks would love us to collect bank accounts, all with plenty of money in them that we never touched!

Think most people getting those refunds are getting them cuse their cards got skimmed and their accounts cleaned out.

I sincerely hope that DOESN'T happen to u!

NuMarvel

If it's the standard ucrrent account that you're thinking of leaving open, don't forget that this attracts maintenance and transaction fees unless you do the following at least once every fee quarter:

1. Use your AIB Debit Card to make a purchase, and

2. Make a debit transaction using AIB Phone & Internet Banking e.g. pay a bill or top up your mobile

From here.