Opinion Poll: Moving from AIB to other Bank

gozunda

FOR Current or Recent AIB Customers...

As title suggests - Who has decided to give AIB the final salute or otherwise!

Mimikyu

This post has been deleted.

Chessala

Not sure yet tbh. I'm miffed at the new charges but AIB has been very generous with me and I currently have a 1.5k Overdraft with them that I can't do without right now.

I'll wait and see for now.

Carne

I think I'll wait a while and see what happens in case UB introduce charges too.

Graciefacey

Are people REALLY that naive to think that ulster bank won't introduce charges?! Free banking is unsustainable. Banks are essentially shops, and I certainly don't know anyone who gets free shopping! They are providing the consumer a service. People pay for services. All anybody wants is for the banks to be solvent again and we all have to play our part in that. Typical Irishness to be a bunch of bloody naysayers!

wmpdd3

Fine, impose charges, BUT, 160euro per year? You must be joking, thats what i would have paid last year, all electronic tranactions. I moved to boi, at the mo, i will have free banking, if they change i will have a flat fee per quater, i refute your post, typical irish sitting duck getting fleeced!

Chessala

@wmpdd3: Just for the record, I'm not Irish -.-

Dandelion6

I closed and went to Ulster Bank. My advice for people considering this:

• They tell you to give 7 working days for your direct debits to be switched over. I had a direct debit due to come out 9 working days later and it didn't get switched in time. If you have any due within two weeks or so after your "switch date" you're probably better off notifying the creditor yourself and doing this ASAP.

• If you have AIB "online" savings accounts that you need to close, transfer the funds to your current account first, it will save you hassle!

• If you haven't switched your AIB credit card and want to pay it from your new account, these are the details you need:
  AIB sort code 93-02-96
  Account number 99903412
  Reference: Your credit card number

Rebel1977

Eventually all Banks will be charging current account fees, era of free banking is gone, Banks are a business not a charity.

dotsman

wmpdd3 wrote: »

Fine, impose charges, BUT, 160euro per year? You must be joking, thats what i would have paid last year, all electronic tranactions. I moved to boi, at the mo, i will have free banking, if they change i will have a flat fee per quater, i refute your post, typical irish sitting duck getting fleeced!

And what do you think is a fair charge? I would love to pay only €160 p.a. for my heat/electricity/tv/internet/mobile phone/gym (ie all other regular services I use)?

Also, €160 seems very high. The most it should cost anybody is €70 (as that is approximately the max interest they would otherwise have earned by having the €2,500 in a deposit account).

I think it's also interesting that almost half of those who have responded say they have closed "all" their accounts. I assume from that that they were already very unprofitable customers for the bank.

Graciefacey

wmpdd3 wrote: »

Fine, impose charges, BUT, 160euro per year? You must be joking, thats what i would have paid last year, all electronic tranactions. I moved to boi, at the mo, i will have free banking, if they change i will have a flat fee per quater, i refute your post, typical irish sitting duck getting fleeced!

Hmm well I'm a sitting duck with no charges!

wmpdd3

Previously I would have had no issue in keeping €3000 plus in mu current account, but I have a massive change in circumstances, I now live week to week and pay my utilities weekly.

€160 a year is alot of money for me and my family.

I am in the process of closing all my AIB accounts and moving to BOI, even if I save 1 years charges I will be happy.

When I do return to full time employment in my profession, BOI will be my bank and my first port of call for financial services.

People change electricity suppliers for a projected saving of €50 per year!

On a side note, while my mother was asking about closing her accounts they offered free banking until she reaches 60 as its soon, so its worth asking.

gozunda

Graciefacey wrote: »

Are people REALLY that naive to think that ulster bank won't introduce charges?! Free banking is unsustainable. Banks are essentially shops, and I certainly don't know anyone who gets free shopping! They are providing the consumer a service. People pay for services. All anybody wants is for the banks to be solvent again and we all have to play our part in that. Typical Irishness to be a bunch of bloody naysayers!

Rebel1977 wrote: »

Eventually all Banks will be charging current account fees, era of free banking is gone, Banks are a business not a charity.

Its not that other banks dont have charges - it is the nature of AIBs charges that have incurred the wrath of AIB customers -I posted this in another thread but in response I will post it again....

FREE?????

To avail of AIB "Free Banking"....

- AIB will have the free use of 2500 Euro per customer for free and naught on their balance sheet PLUS they will NOT be giving interest on any of this amount to current account customer BUT they will be able to use this combined capital to float their own investments from which they will able to earn interest and or dividends (Your money just doesnt sit in a little hole with your name on it!)

A customer failing to keep the whole 2500 euro during the fee period WILL be charged BUT still wont recieve a cent of interest for any savings in their Current Acoount they do have so AIB are in effect charging customers twice.
AIBs Online Savings account I believe gives 4.3% AER up to 10,000 Euro - however they are now insisting that all customers lodge 2500 Euro without interest or they will charge for services including those which have no customer / bank employee interaction including Automated Lodgements (e.g. salary) and are in the interest of the Bank (they in effect are getting FREE positive capital)

Hardly a free service considering they get both the potential interest on ANY positive balance and then charge as well if that amounts falls even briefly below a whopping 2500 Euro

Oh And every Tax payer in this country has made a whopping donation to keep this now state owned bank open for business!

Bunch of Sharks imo...

NuMarvel

I moved to Ulster Bank. I've no doubt they'll introduce some form of transaction fees in the future, but in the meantime, I'm saving money and that's better in my pocket.

If and when, UB introduce fees, I'll look around again. As per their terms and conditions they have to give at least 2 month's notice of any increase in fees or charges, so it's not as if it'll happen tomorrow.

jameshayes

lol at the people saying that all banks will introduce charges... who cares if they do eventually, no point being with a bank that charges at this present moment in time when you can bank elsewhere for free...

Funnyonion79

I've closed all three AIB current accounts plus a savings account that had a substantial amount of savings in it and moved the whole lot to BOI where I can avoid paying fees for the time being by ensuring that €3k is lodged to my account over a quarter and by doing at least 9 online transactions in a quarter.

I've been an AIB customer since 1991, always use online banking, get e-statements, use my laser card constantly so based on myself and my husbands usage over our 3 current accounts, we'd be paying €260 a year just to manage our OWN money. JOke!

Plus to add insult to injury, AIB refused us a mortgage, despite our excellent credit history, good savings and years of loyalty, whereas BOI approved us for a mortgage so that was an added incentive to move to BOI.

GermanicGalore

Well, I calculated my quarterly fee based on the last 3 quarters and if I don't change a thing, it would be around 38eur per quarter.

I think it's unfair that TSB and BOI make it a lot easier to avoid charges. I don't trust that ulster bank is not bringing in charges soon. They are probably waiting for a few more people to switch.

I'm somewhat indecisive as to what to do. I have the click credit card which requires an account with them, and is currently maxed out as a result of getting married and a honeymoon in the US. I also have a car loan with AIB. And of course loads of direct debits for bills. It feels like a gigantic hassle to switch, but as far as I can tell, BOI and TSB are easiest for avoiding charges.

W_J_Happen

I've switched to Ulster Bank but is a bit of a nightmare!

I've never taken out a loan or had an overdraft or not paid a bill on time and as a result i have no credit rating.

They told me that to order a credit card with them I had to get a letter of dispensation from AIB to cover the stamp duty on the new card. In order to do that I had to cancel my old credit card. I did that only to be told that UB won't give me a CC because of my credit score. I went to the ICB and got a credit report but of course there is nothing on it!

I don't know where to go from here and on top of that AIB sent me a bill for charges for the first quarter! Was I the only one who thought that the fees were being introduced at the end of May?

It has become such a headache I wish I had just paid the money and stuck with AIB since I know UB are just going to go and introduce (probably higher) fees now.

Am I alone with this CC issue or are others in the same (leaky) boat?

wmpdd3

I was only charged from the 28th of may until the 3rd of june. maybe you didnt satisfy the old conditions aib had for free banking. I think it was 1 laser transaction and a few internet transactions. Can you ask aib to reopen your cc?

Decoda

Hi,

Forgive my ignorance but how difficult is it to actually switch banks? Is it as easy as your new bank applying a "switching " code that allows all of my existing direct debits / salary payments etc to move with me or do I have to individually manually switch all of these myself?

Sorry if it seems like a silly question but I have banked with AIB since 1989...opened my first bank account with them to receive my first college grant payment and haven't left.:o

Any advice gratefully recieved

DC

Mimikyu

This post has been deleted.

lolo62

W_J_Happen wrote: »

I don't know where to go from here and on top of that AIB sent me a bill for charges for the first quarter! Was I the only one who thought that the fees were being introduced at the end of May?
QUOTE]

i got charged too but then refunded...spoke to a rep who said its just a formality and legally has to go up on the records but if you've met criteria for free banking they are refunded and charges are just form may

lolo62

im in the process of trying to swich from AIB to UB

i signed up for e-statements ages ago (big mistake) and AIB are trying to charge me €71 for the last years hard copy ''duplicates''...UB (and most places) dont accept e-statements

spoke to national consumer agency who advised me that legally AIB are obliged to issue me the past 12 months statements free of charge in whatever format i request

its even in the central bank code of conduct and I am waiting on my fifth return call on the issue as they all seem oblivious to this document...

has anyone else had a problem with this?

ps i know you only need 3 months when switching i just want to have them on me in case i need them down the road

dotsman

lolo62 wrote: »

im in the process of trying to swich from AIB to UB

i signed up for e-statements ages ago (big mistake) and AIB are trying to charge me €71 for the last years hard copy ''duplicates''...UB (and most places) dont accept e-statements

spoke to national consumer agency who advised me that legally AIB are obliged to issue me the past 12 months statements free of charge in whatever format i request

its even in the central bank code of conduct and I am waiting on my fifth return call on the issue as they all seem oblivious to this document...

has anyone else had a problem with this?

ps i know you only need 3 months when switching i just want to have them on me in case i need them down the road

Can you please clearly state the law they broke or the CPC regulation they are in breach of?

Also, why do you think the issue is not with Ulster Bank in this regard?

P.S. - I'm a massive fan of eStatements/eBilling etc and think should become compulsory!

wmpdd3

central bank code of conduct

not a 'law'!

http://www.centralbank.ie/regulation/processes/consumer-protection-code/pages/codes-of-conduct.aspx

NuMarvel

lolo62 wrote: »

spoke to national consumer agency who advised me that legally AIB are obliged to issue me the past 12 months statements free of charge in whatever format i request

its even in the central bank code of conduct and I am waiting on my fifth return call on the issue as they all seem oblivious to this document...

I've had a quick look through the code and I don't see any mention of a legal requirement to supply the previous 12 months of account statements for free.

The closest I can find is that banks are required to issue loan customers with statements at least once every 12 months, but that's a different kettle of fish.

I can sympathise with your plight though. On one hand it's better for financial institutions to issue electronic statements, but then customers are caught out in these types of scenarios. If it helps, I think UB have a facility that you can request free paper copies for 3 months previous twice a year (i.e. for 2 different 3 month periods).