Avoiding AIB maintenance and transaction fees

daveyjoe

I got hit with an unexpected ~€35 of AIB fees this morning. It was the first time that I got hit with the fees and I want to avoid them in future.

According to the AIB booklet on fees, all I need to do is:

1) at least one purchase transaction using their AIB Debit Card in each fee quarter
AND
2) at least one debit transaction using AIB Phone & Internet Banking in each fee quarter.

I use my AIB debit card for transactions regularly so number one isn't a problem.

For number two (the debit transaction using AIB), can I simply move a small amount of money from my current account into my savings account each quarter? I've scoured the small print and I can't see anything that would suggest that this wouldn't count as a debit transaction but I'd like confirmation because I don't want to get hit with fees again.

dohouch

I've purchased phone credit on the AIB website, also paying off the AIB issued credit card on the site. Haven't paid charges in years.

deltakilo

You can use the mobile top up, pay bills such as credit card or electricity and you can transfer money to different accounts. I have been using all these options and saved a lot on fees.

Ciarrai76

daveyjoe wrote: »

I got hit with an unexpected ~€35 of AIB fees this morning. It was the first time that I got hit with the fees and I want to avoid them in future.

According to the AIB booklet on fees, all I need to do is:

1) at least one purchase transaction using their AIB Debit Card in each fee quarter
AND
2) at least one debit transaction using AIB Phone & Internet Banking in each fee quarter.

I use my AIB debit card for transactions regularly so number one isn't a problem.

For number two (the debit transaction using AIB), can I simply move a small amount of money from my current account into my savings account each quarter? I've scoured the small print and I can't see anything that would suggest that this wouldn't count as a debit transaction but I'd like confirmation because I don't want to get hit with fees again.

You can transfer ANY amount to any account for it to count as using phone & internet banking. In the past I have moved as little as 50c from current a/c to another a/c and it is fine.

danmanw8

It gets worse!
AIB are changing the criteria for free fees. Not going to be as easy in the future:

http://irishstuff.wordpress.com/2012/03/20/20aib-to-hit-customers-in-fees-hike/

cookie1977

Jees that's gonna be hard for a lot of people:
http://www.aib.ie/servlet/BlobServer?blobcol=urldata&blobtable=MungoBlobs&csblobid=1214425625878&blobkey=id&blobwhere=1214425625878&blobheader=application%2Fpdf

cookie1977

I'm off to change banks anyway.

quad_red

Yeah, I've had it with AIB and BOI.

Anyone have any experience with Ulster Bank?

granturismo

For 18 transactions per month plus €4.80 maintenance per quarter - works out at about €4.73 per month.

Does anyone else pay fees with any of the other banks?

hadook

This is the section that'll see me closing my account with AIB and doing all of my banking from my PTSB account:

Service Charges
Service Charges cover a wide range of services provided by AIB Bank. When you avail of a service, the appropriate charge will be applied as it occurs unless otherwise stated. Service Charges are not included in maintenance and transaction free banking. Account transaction fees may also apply.

Duplicate Bank Statements and Certificates
• Duplicate Statements per page €2.54
• Duplicate Certificates of Interest €6.35 each
Unpaid items
• Cheques lodged to your account and returned unpaid €4.44 per item
• Cheques, direct debits or standing orders presented on your account and returned unpaid €10.00 per item

Other Services
• Bank Drafts – payable in euro for use in the Republic of Ireland €1.90 each
• Additional/Replacement Card Reader for AIB Phone & Internet Banking €5.50 per request
• Inter-Branch transfer (a payment from an AIB account to another AIB account) €12.70 per item
• Inter-Bank transfer (a payment from an AIB account to a non-AIB account within the Republic of Ireland) €25.39 per item

snubbleste

That's (almost)robbery!

cookie1977

hadook wrote: »

• Inter-Branch transfer (a payment from an AIB account to another AIB account) €12.70 per item
• Inter-Bank transfer (a payment from an AIB account to a non-AIB account within the Republic of Ireland) €25.39 per item

While crazy is that not where you use an aib teller to help you? I think if it's done online it's 20cent. I think anyway from my reading of it

cookie1977

I suspect credit card maintenance fee's will follow soon too. They only got rid of them when MBNA entered the market and now that they're gone...

hadook

cookie1977 wrote: »

While crazy is that not where you use an aib teller to help you? I think if it's done online it's 20cent. I think anyway from my reading of it

I've just gone back and reread it and it also says that AIB teller transactions are 30c according to the t&c's.

Duplicate statement fees are charged the same whether you ring up and request or go into the bank and they're in the same section of Service Charges. Now I'm hoping the astronomical fees are for teller transactions but then I'd also like to believe that a minimum daily balance of 2.5k is a misprint.

Mr E

That's not good. Realistically, I won't meet their minimum requirements for free fees. I've been with AIB since college (1992) and I hate to say it, but it might be time to look for an alternative.

Those branch/bank transfer fees are also ludicrous (if it applies to online transfers).

cookie1977

Mr E wrote: »

That's not good. Realistically, I won't meet their minimum requirements for free fees. I've been with AIB since college (1992) and I hate to say it, but it might be time to look for an alternative.

Those branch/bank transfer fees are also ludicrous (if it applies to online transfers).

They'll all follow suit quite quickly I'd imagine. But hopefully at least one will undercut the rest.

CricketDude

Mr E wrote: »

That's not good. Realistically, I won't meet their minimum requirements for free fees. I've been with AIB since college (1992) and I hate to say it, but it might be time to look for an alternative.

Those branch/bank transfer fees are also ludicrous (if it applies to online transfers).

Me too.
Im getting a bit tired of all these conditions for free fees anyway.

Any other banks do free fees, without having you to jump through hoops?

No time like the present to change.

And not only am I getting rid of my current account, but also my regular savings and other savings accounts that I have with AIB.

And the wifes AIB accounts too.

Mr E

They're probably hoping that people will think that it's too much hassle to move banks and that Irish people will just turn the other cheek and stay where they are.

I hate to say it, but it's probably likely.

Tora Bora

So do you folks, who intend to change banks, expect to be met at the door, by any one of the few other banks which remain standing in this country, and be given a cup of coffee and a few buiscuits:rolleyes:

Bottom line ........... all the banks are bust:o
They will ALL, become ever more creative and inventive, and downright vicious, in how they cut their own cost, raise revenue by applying charges to current accounts. Get used to the fact that they are going to rip you at every possible turn over the next few years.
You will pay as more in bank fees than the current household charge plus septic tank charge put together:mad:
There is a silent revolution going on about the household charge, but not a dicky bird about AIB bank fees, even though it's owned by the government

jester77

Does this mean that you now only need to keep a balance of 2.5k to avoid fees? Or do you also have to meet the old criteria as well?

I'm not in Ireland often enough to register an AIB debit card transaction per quarter so I've always ended up paying fees. But if I can now just keep a 2.5k balance this may work out better for me.

ScouseMouse

• Inter-Branch transfer (a payment from an AIB account to another AIB account) €12.70 per item



Am I reading this right? Interbranch transfers? The wife gets paid into her AIB account and I move it to my AIB account for the mortgage.

This will cost 12.70 euro? I have to be wrong !

cookie1977

superscouse wrote: »

• Inter-Branch transfer (a payment from an AIB account to another AIB account) €12.70 per item



Am I reading this right? Interbranch transfers? The wife gets paid into her AIB account and I move it to my AIB account for the mortgage.

This will cost 12.70 euro? I have to be wrong !

I think this is charged if you do it in a bank, whereas if you do it online it's 20cent...i think

B Account Transaction Fees
Automated/Self Service Transactions €0.20 each
This fee applies to the following transactions:
• ATM Withdrawals
• Standing Orders
• Direct Debits
• Automated Lodgements (e.g. salary)
• AIB Phone & Internet Banking** Transactions
• AIB Debit Card Transactions.


** AIB Phone & Internet Banking includes AIB Phone
Banking, AIB Internet Banking and AIB Mobile Banking.

CricketDude

CricketDude wrote: »

Me too.
Im getting a bit tired of all these conditions for free fees anyway.

Any other banks do free fees, without having you to jump through hoops?

No time like the present to change.

And not only am I getting rid of my current account, but also my regular savings and other savings accounts that I have with AIB.

And the wifes AIB accounts too.

Was so pissed off I just called my friendly AIB bank manager.
I asked was this true and they said it was and then the usual sh!te about what great service they offer and that all banks will be bringing in charges.

I said i'll take my chances with another bank, and I listed out my accounts and my wifes accounts and asked for a list of automatic transactions on them as we were going to move them all this week.
Before I had finished I was told that we could extend the current free banking as long as we wanted as a special incentive for us to stay with AIB.
She is going to send us this in writing today.

It pays to get snotty on the phone.

Oh and I got her to drop the stupid rule about 1 laser transaction and one other transaction too.
Its free banking, with NO conditions at all.
Put your foot down and really convince them you are leaving.

Who wants to have to have €2500 just sitting in their account that they cant touch, or it costs them. Not me.

I told her I was looking at this one, among others

http://www.ulsterbank.ie/roi/personal/daily-banking/current-accounts/standard-accounts.ashx

HattieMcDoogal

I've been a customer of AIB for 10+ years. Read about the transaction fees on the news this morning. I'll be moving all of my standings orders and Direct Debits from then tomorrow to a bank that doesn't charge fees.

I know it's probably only a matter of time before that bank follows suit but at least they are still free for the foreseeable future.

chasm

Well this will finally give me the kick up the backside that i need to move to another bank. I've had a cashsave a/c since 1987, at the moment it pays the princely rate of 0.025% interest. Why the hell would i want to leave €2,500 in an a/c paying such a poor rate?

I am fortunate enough to have that amount to leave in the AIB if i chose to, but what about the many who do not? According to rte 40% of its personal current account holders will qualify after the change, what about other a/cs though. Cashsave for example is not a personal current account, so what % of ALL account holders will qualify i wonder?

CricketDude

chasm wrote: »

Well this will finally give me the kick up the backside that i need to move to another bank. I've had a cashsave a/c since 1987, at the moment it pays the princely rate of 0.025% interest. Why the hell would i want to leave €2,500 in an a/c paying such a poor rate?

I am fortunate enough to have that amount to leave in the AIB if i chose to, but what about the many who do not? According to rte 40% of its personal current account holders will qualify after the change, what about other a/cs though. Cashsave for example is not a personal current account, so what % of ALL account holders will qualify i wonder?

That €2500 you leave "sitting" in the AIB account will earn you over €100 a year "sitting" in another account.

So at the very least AIB are costing you €100 year, even if they give you free fees.

No.125

so just to clarify.

you get free banking if you have 2500 sitting idle in an account??

but do you have to use your laser card and make a monthly online transaction aswell as having 2500 in the account?

matrim

Does the 2500 have to be in your current account or can it be in a savings account with AIB?

cookie1977

current I'd imagine

granturismo

matrim wrote: »

Does the 2500 have to be in your current account or can it be in a savings account with AIB?

I called into my branch today - its your current account only.

Ciarrai76

If I was lucky enough to have €2,500 in my account in the first place, I wouldn't care about fees! But I don't, and won't in near future. And I'm sure many other AIB customers won't either!
my husband moved his account from BOI recently due to their banking fees, and was really happy with the AIB criteria for free banking. We were only discussing it a couple of days ago when we saw our statements and the refunded fees. Then they change it!
I have said to him to get onto them and tell them he's not happy especially as he moved accounts for this reason.

How is it we are paying for banking, when I was under the impression the public own most of the bank now?? how are they getting away with this??

CricketDude

If ulster bank hit the airwaves over the next month hyping up their free fees I bet they would take 90% of AIBs current account customers easily. Then after that they would start buying other banking products from uslterbank instead of AIB.

Babooshka

CricketDude wrote: »

If ulster bank hit the airwaves over the next month hyping up their free fees I bet they would take 90% of AIBs current account customers easily. Then after that they would start buying other banking products from uslterbank instead of AIB.

Yes but if one does it, don't they all eventually follow suit? I am definitely going to look into the options available but I will not go to the bother of changing all accounts over unless I know that there won't be any new fees introduced by UB or PTSB for at least two years, and there are no guarantees here, I can't help thinking this is the way it's going to go with all banks.

CricketDude

Babooshka wrote: »

Yes but if one does it, don't they all eventually follow suit? I am definitely going to look into the options available but I will not go to the bother of changing all accounts over unless I know that there won't be any new fees introduced by UB or PTSB for at least two years, and there are no guarantees here, I can't help thinking this is the way it's going to go with all banks.

Ask for a guarantee when you move acounts.
I got a guarantee off AIB of no fees if myself and my wife keep our business with them. It wasnt that hard to get. Just had to convince them I was serious. But if I didnt get that I would have been gone.

Ulster bank could get so much business here. Actually any bank could if they put out a guarantee of no fees for a a few years. Current accounts are a loss leader.

People will remember getting screwed by AIB and will avoid them for loans, mortgages, deposit accounts, and all of their other products because of this.

At the end of the day there is no point letting someone give it to you in the arse just because the person in the next room might give it to you there in the future as well.

Sure if people dont protest and back up their protests then ALL of the banks know it is ok to do this. If everyone moved or insisted AIB drop their charges if they stay, then other banks would also realize that any move on charges now means too much lost business.

Babooshka

CricketDude wrote: »

Sure if people dont protest and back up their protests then ALL of the banks know it is ok to do this. If everyone moved or insisted AIB drop their charges if they stay, then other banks would also realize that any move on charges now means too much lost business.

Will have a chat with AIB and tell them I am going to move if they don't change their minds on this. Not that my pittance will make them worried but you're right, it's about time to take a stand on something. If no joy will ask a new bank for some form of guarantee.

readyletsgo

Ok I just heard about this, I am an avg guy who gets his (albeit small) wage into one account and has another account for bills and rent and for loans to be paid out.
I never go into AIB branches, I use internet banking nearly every day.
Been with AIB since the mid 90's.

What are the charges to move say €50 from one AIB current account to another AIB current account at a go?
What are the charges to have DD set up to pay my electricty bill bi monthly and my internet bill each month?

I see large numbers quoted on here like €12 or €24 per transaction. Is this when I go into a AIB branch and lodge money or move it around via internet banking?
I use my Lasercard once in a while each month.

Is there any use moving to Ulster Bank? Or set up an account in ulster account and tell my Payroll when its set up, same with my bills?

I have a loan with AIB, will there be more charges if I pay from a different bank?

Very confused here.

Banks = C*NTS as usual.
We have no other option but to be paid into a bank in this country in my eyes and if we ask to be paid by cheque we still have to cash it and thats a massive charge of €12, am I right?

Also, whats Ulster Banks internet banking like? Good as AIB's or bad?
PTSB, what they like for current accounts?

Starting to panic a little here now.

BuffyBot

Closing this as we have an active thread already regarding AIB's announcement on fees.