Free Fees Bank of Ireland

thewintermute

Apropos of Conor Popes spiel on the Radio yesterday. It should be possible for a lot of folks to avail of free fees on a standard Bank of Ireland current account if you: a: lodge more than 3000 through your account per quarter, 1000 per month. b: Process 9 transactions by banking 365 phone or online. I plan to transfer 9 seperate transactions of €1 to my paypal account online each quarter to keep up the transactions, my wages are lodged direct and cover the minimum, so that should be it. Am I missing anything?http://www.bankofireland.com/fs/doc/wysiwyg/37-524RU%2019%20(05-11)%20(2)%20FINAL%20f_c%20Brochure.pdf

diceyreilly

thewintermute wrote: »

Apropos of Conor Popes spiel on the Radio yesterday. It should be possible for a lot of folks to avail of free fees on a standard Bank of Ireland current account if you: a: lodge more than 3000 through your account per quarter, 1000 per month. b: Process 9 transactions by banking 365 phone or online. I plan to transfer 9 seperate transactions of €1 to my paypal account online each quarter to keep up the transactions, my wages are lodged direct and cover the minimum, so that should be it. Am I missing anything?http://www.bankofireland.com/fs/doc/wysiwyg/37-524RU%2019%20(05-11)%20(2)%20FINAL%20f_c%20Brochure.pdf

No thats basically it, i done the same, make sure i have 9.. I do 9 1c transactions back on my BOI loans and shouldnt get any bills in the door of Bank of Ireland from now on..

Badgermonkey

Helpful info without doubt.

But bargain alert? -to have to jump through hoops to keep YOUR MONEY from the clutches of wreckless creeps who desperately need it to keep their flailing and discredited institutions afloat.

Oh God, I'm sounding like Boyd Barrett. :eek:

cactus10

I think if you keep a minimum balance of 3000 you are exempt from charges also.

Sarn

Alternatively, switch bank or pay €11.40 a quarter for 90 transactions.

Remember, the next quarter ends on the 21st August.

Salmon

Do you have to lodge 3k and make 9 transactions or is it sufficient to just make the 9 transactions?

Tazz T

Not much of a bargain.

PTSB offer free banking with none of those conditions.

ToadVine

Salmon wrote: »

Do you have to lodge 3k and make 9 transactions?

Yes. Both.

thewintermute

Badgermonkey wrote: »

Helpful info without doubt.


But bargain alert? Fair point, possibly better as a consumer issue, I agree, but it can save you money. The feckers charge 28c per transaction. Something to bear in mind when you whip out the laser card for small purchases.

Polar101

I just pay my insurances / phone bills etc. monthly by direct debit, that seems to count towards the 'transactions'. Haven't had to pay the fees for a few years now.

Johnny_Fontane

switching banks is simple but you lose alot of the goodwill that you have created. for example I have a 15k overdraft facility from banking with them over the last 15 years, there is no way in the world I would get this facility from another bank (even though I rarely dip into it)

SkrApsAK

Tazz T wrote: »

Not much of a bargain.

PTSB offer free banking with none of those conditions.

NOT TRUE!

I get charged about €15 per 1/4 year (likely because I don't use the acc and don't have any funds going to it)

I use AIB and once your lodging over €1,500 per month, everything is free. But they're probably the worst shower out of the lot so don't know if its worth it

Fingleberries

Polar101 wrote: »

I just pay my insurances / phone bills etc. monthly by direct debit, that seems to count towards the 'transactions'. Haven't had to pay the fees for a few years now.

I seem to remember them saying the DD no longer count towards this total - so I end up paying 9c in 1c installments off a bill or credit card, just to cover myself.

(Now, I'm off before I go onto a full-scale rant about the banks.. )

Tazz T

SkrApsAK wrote: »

NOT TRUE!

I get charged about €15 per 1/4 year (likely because I don't use the acc and don't have any funds going to it)

I use AIB and once your lodging over €1,500 per month, everything is free. But they're probably the worst shower out of the lot so don't know if its worth it

They don't charge me anything and I rarely use it. Incidentally, why would you keep an account you don't use if they're charging you €15 a quarter?

Jayd0g

Polar101 wrote: »

I just pay my insurances / phone bills etc. monthly by direct debit, that seems to count towards the 'transactions'. Haven't had to pay the fees for a few years now.

Direct Debits don't count as online transactions.

They re introduced the fees recently, I think this will be the 1st quarter they'll apply to.

Full terms (for standard current account) here: http://personalbanking.bankofireland.com/current-accounts/standard-current-account/

I'm also using the 9 small transfers to paypal method too!

SkrApsAK

Tazz T wrote: »

They don't charge me anything and I rarely use it. Incidentally, why would you keep an account you don't use if they're charging you €15 a quarter?

I use the high interest savings account so have a normal account with them too incase i need to move funds around. Not a problem in my opinion

quaalude

thewintermute wrote: »

But bargain alert? Fair point, possibly better as a consumer issue, I agree, but it can save you money. The feckers charge 28c per transaction. Something to bear in mind when you whip out the laser card for small purchases.

Is this true of AIB also?

bk

Ulster Bank have a free current account with no strings attach.

They also use the Visa Debit card which is much more useful then the BOI/AIB Laser card (to be replaced by Visa Debit over the next two years, but why wait?)

Drakar

quaalude wrote: »

Is this true of AIB also?

http://www.aib.ie/personal/current-accounts/A-way-to-bank-for-free

teddy b123

Do you think they would mind if you lodge one euro 3000 times?

Lissavane

thewintermute wrote: »

Apropos of Conor Popes spiel on the Radio yesterday. It should be possible for a lot of folks to avail of free fees on a standard Bank of Ireland current account if you: a: lodge more than 3000 through your account per quarter, 1000 per month. b: Process 9 transactions by banking 365 phone or online. I plan to transfer 9 seperate transactions of €1 to my paypal account online each quarter to keep up the transactions, my wages are lodged direct and cover the minimum, so that should be it. Am I missing anything?http://www.bankofireland.com/fs/doc/wysiwyg/37-524RU%2019%20(05-11)%20(2)%20FINAL%20f_c%20Brochure.pdf

That's grand if you want to jump through hoops to save on charges.
I held a BOI account for over 20 years and recently got fed up with all of that nonsense.
I moved my current account to UlsterBank and now have:
no current account charges when in credit with no cutehoor catches,
free email alerts with balance details etc, facility to set up online payments using card-reader without recourse to online application and awaiting approval (by post!!!)
normal visa debitcard transactions, as you'd expect, without a mention of that laser garbage,
maybe a little more but I don't recall.
I made the 9! seperate transactions required by BoI to avoid charges and then moved my account.
I advise anyone who is in a position to do so, to move to a bank that does not screw you for current account charges.

Jesus Wept

Or switch to Ulster Bank and avoid jumping through 9 million hoops in order to get something that other banks give away very easy.

Bank of Ireland are a joke. The only reason they are in business is that a lot of people stay with the same bank most of their life. It's like stockholm syndrom.

crystallove

so terrible ,we must take care of it

CiaranC

Why is this thread still open?

paddydriver

Johnny_Fontane wrote: »

switching banks is simple but you lose alot of the goodwill that you have created. for example I have a 15k overdraft facility from banking with them over the last 15 years, there is no way in the world I would get this facility from another bank (even though I rarely dip into it)

Don't think "goodwill" exists in banking anymore - you are probably taking business account if you have an OD of 15k but in personal banking they are all ruthless these days!

Had 2 calls with PTSB last month on charges for stuff that previously would have been fine but now they are going after every cent from you.

board_stiff

SkrApsAK wrote: »

I use the high interest savings account so have a normal account with them too incase i need to move funds around. Not a problem in my opinion

Do you not see it as a problem that in order to avail of the high interest savings account you have to spend €60 a year on fees?

PTSBs online regular savers account pays 4% interest.

Ulster bank also do a 4% savings account and as previously posted don't charge fees for having a current account.

msg11

What a **** bank, charging customers for using there bank and giving them money. Are people stupid or something? Move to another bank and your saving money. Why pay 10-20 euro when you don't need to.

I done it two years ago, went into my branch. Asked to close my Current and Saving account, they didn't really like this but I said I don't really like your bank.

Joined Ulster Bank, have to say they are an excellent bank. Very quick, good on-line services and there is an app for your phone also. The Visa Debit thing is a lifesaver. Another place where I saved money, stopped using that stupid rip off 3V voucher.

Moving banks is not that hard. If you have a mortgage with them, they will just DD it from your new bank. If people move with there feet on this one it will make them stop this and stop other banks from doing it, if ulster bank started this tomorrow I would be upping sticks to another bank.

SkrApsAK

board_stiff wrote: »

Do you not see it as a problem that in order to avail of the high interest savings account you have to spend €60 a year on fees?

PTSBs online regular savers account pays 4% interest.

Ulster bank also do a 4% savings account and as previously posted don't charge fees for having a current account.

Theres a limit to the amount you can save each month in each bank, which is why I use several banks for it....
Not really a problem in my opinion considering the €60 comes out of my interest anyway. Its the DIRT I hate paying, not the €60 :eek:

darconio

I don't understand people that want this tread closed, I think it is an interesting piece of information and it definitely qualify for a BA in terms of saving our hard earned money.
So thanks to whoever brought up the fact that BOI and AIB are charging for holding into our money, and thanks to whoever suggested the switch to Ulster Bank, I have already set an appointment with them.