BOI Quarterly charges, without telling me

kenny_david

I have just realized BOI have charged me 30 euro quarterly charges from February to May and again from May to August a total of 60 euro is this legal because I did not recieve any notfication or letters that they are charging quarterly fees, I thought that they would have to inform you about this before they start charging you!! does anybody know anything about this or what I can do about this can I complain to the financial regulator??

chris85

kenny_david wrote: »

I have just realized BOI have charged me 30 euro quarterly charges from February to May and again from May to August a total of 60 euro is this legal because I did not recieve any notfication or letters that they are charging quarterly fees, I thought that they would have to inform you about this before they start charging you!! does anybody know anything about this or what I can do about this can I complain to the financial regulator??

There fees are part of their terms of their accounts. They are entitled to charge fees on their accounts.

There is free banking available if certain criteria are met. see link below.

http://personalbanking.bankofireland.com/current-accounts/standard-current-account/

kenny_david

yes i accept that, but are they not obligated by law to inform you of price increases

BuffyBot

I'm pretty sure it was well publicised in the media..

solerina

This was discussed on the Ray D'Arcy show a few weeks ago. Conor Pope looked into it and said that BOI had run media campaign to notify people. Apparently to avoid paying fees you must have a minimum of 3000 going into your account and 9 transactions per quarter....he recommended paying your visa bill in 9 separate amounts, or transferring 1 euro into another account on 9 separate occasions.....rediculous but it will save you money !!!!

chris85

This was well publicised which is a requirement. Was ads in all major papers. A lot of news about it.

They do not need to inform each individual customer.

dublin daz

I think BoI send a fee notification when the charges are in excess of 12.70. Contact the branch and they can send a breakdown of the fees.

This shows the number of items processed on your account in the quarter.

earlyevening

I phoned them up when I saw these fees appear on my statement and asked them to remove them or I'd close my accounts as they hadnt communicated with my by post..and they did.

Never hurts to ask.

Sidetracker

BOI & AIB. Can banks treat people this way without any response from Regulator ?.
I have just received a letter from Bank of Ireland informing me that they are closing my current account in 21 days under section 54 of the credit act. I do not have an overdraft and my account ic clear. I used to use my account to have my wages paid in.
Now I am retired, I have my Irish and UK pensions paid into my account. Whilst I can have my Irish pension paid into my local Post Office, I have been informed by the UK Pension Board that they are phasing out payments by cheque. They say that the only way they can pay me is through the Bank Account of a family member or a friend. Does our Government nto care about this behavour ?.

handsomecake

I meet the criteria and have just been given fees of 40.88 for may to august. Thinking of closing the account now. any other banks do free banking or any other good stuff?

chris85

Sidetracker wrote: »

BOI & AIB. Can banks treat people this way without any response from Regulator ?.
I have just received a letter from Bank of Ireland informing me that they are closing my current account in 21 days under section 54 of the credit act. I do not have an overdraft and my account ic clear. I used to use my account to have my wages paid in.
Now I am retired, I have my Irish and UK pensions paid into my account. Whilst I can have my Irish pension paid into my local Post Office, I have been informed by the UK Pension Board that they are phasing out payments by cheque. They say that the only way they can pay me is through the Bank Account of a family member or a friend. Does our Government nto care about this behavour ?.

I will assume you have another account with BOI (loan/CC/Finance) in arrears. Section 54 letters are issued when you are in arrears and they are terminating teh original agreement made and full balance can then be called on. Contact your lender and try make arrangments on the Loan and they will most likle allow current account to be left open.

Sidetracker

chris85 wrote: »

I will assume you have another account with BOI (loan/CC/Finance) in arrears. Section 54 letters are issued when you are in arrears and they are terminating teh original agreement made and full balance can then be called on. Contact your lender and try make arrangments on the Loan and they will most likle allow current account to be left open.

Hi Chris, I read a couple of weeks ago of a similar case, involving AIB and like yourself I thought that there is more to this. But now that it has happened to myself I can hohestly say that I do not have any other account with BOI or any other bank. I have had this account many years and I can say, hand on heart, that I have not had as much as one letter from the bank. Indeed only in August of this year BOI opened a Master Card AND Laser Card accounts for me. As I dont have an overdraft, I have never let my account go over, never. Beats me.

unclebill98

Fees applied to an account must be told to the customer prior to applying them.

I've a boi account and never get the letter. Keep calling and complaining and getting refunds....

filmbuffboy

handsomecake wrote: »

I meet the criteria and have just been given fees of 40.88 for may to august. Thinking of closing the account now. any other banks do free banking or any other good stuff?

Ulster bank