BOI Notified Fees

Old Perry

Can someone please tell me what the story is with BOI's notified fees, im reading that you are exempt if holding a balance of 500e or more or making a certain amount of transactions per quarter. I am doing this but still being charged.

what are they for and is there t&c that override the exemption?

chris85

New terms on current accounts were brought out a number of months ago.

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

Bank of Ireland: Pat

Hi Old Perry,

chris85 is correct. The ways to qualify for fee free banking changed in February 2011. We've previously had a similar query here in our forum. I've quoted our response below.

Bank of Ireland: Linda wrote: »

There are two ways to qualify for our No Transaction Fees Offer:
1) Lodge €3000 into your account (but you do not have to maintain it) AND make 9 debit payments using Banking365 phone or Banking365 online services.
OR
2) Maintain a €3000 credit balance in the account for the full quarter.

The fee quarter dates for 2012 are as follows:
Quarter 1 begins 21st of Nov 2011 until 17th of Feb 2012
Quarter 2 begins 20th of Feb 2012 until 18th of May 2012
Quarter 3 begins 21st of May 2012 until 17th of Aug 2012
Quarter 4 begins 20th of Aug 2012 until 16th of Nov 2012
Any transactions after 5pm on the last day of the quarter may not be reflected until the next quarter.

In terms of debit transactions the following would qualify:
-debit payment from the account in question to another of your own accounts.
-debit payment out of your own account into a 3rd party account.
-pay a bill like a credit card or utility bill
-to top up your phone using banking365 phone or online.

The following do not qualify:
-Automated transactions such as direct debits and standing orders.
-Laser card transactions of any type.

I hope this clarifies things for you. If there's anything else we can do for you, just let us know.

Thanks
Pat

allthedoyles

I have some questions to ask on notified fees and would like to use this thread if thats okay ?

1st question is on the debit payments - is an online transfer into a current account a debit payment from a savings account

Bank of Ireland: Pat

Hi allthedoyles,

Feel free to post any questions you have about fees and charges here.

allthedoyles wrote: »

1st question is on the debit payments - is an online transfer into a current account a debit payment from a savings account

In the example you gave, an online transfer from a savings account into a current account would count as a debit payment from the savings. However, since the fee free banking relates to current accounts, it would not count as one of the nine debit transactions necessary to qualify. It would count towards the €3000 that would need to be lodged into the current account though.

I hope this clarifies things for you.

Thanks
Pat

allthedoyles

I make online payments to creditors to try to avoid these fees . -

is there a feature on your website , where I can see a summary of these online payments , so that I know when I have reached the minimum amount of debit payments due ?

Bank of Ireland: Laura

Hi allthedoyles.

Thanks for your query.

There isn't a feature on our website to summarise your online payments only. However, there is an option on Banking 365 online to filter your transactions.

If you go in under the statements tab to your current account, there is an advanced tab over to the right hand side of the screen. You will be able to filter your transactions by various headings. The option you will choose to view your online payments will be "Pass". Here you will see a list of atm/debit card and phone/online transactions. The phone/online debit transactions are the only ones that will allow you to qualify for our no transaction fee offer.
You need to make at least 9 of these debit payments from your account using Banking365 phone or online and lodge at least €3000 over the course of the fee quarter to qualify.
If your account maintains a minimum credit balance of €3000 for the full fee quarter, you will also qualify.

Hope this helps.
Laura

Jame Gumb

Hi BOI

Is the €3,000 and 9 transactions per month or per quarter and do salary payments from your employer count towards the €3,000?

Many thanks.

Bank of Ireland: Pat

Hi Jame Gumb,

Thanks for your query. The €3000 in lodgements and the nine debit payment would have to be completed in any give quarter to qualify. Here are the dates that the quarters are broken down by:

Bank of Ireland: Linda wrote: »

The fee quarter dates for 2012 are as follows:
Quarter 1 begins 21st of Nov 2011 until 17th of Feb 2012
Quarter 2 begins 20th of Feb 2012 until 18th of May 2012
Quarter 3 begins 21st of May 2012 until 17th of Aug 2012
Quarter 4 begins 20th of Aug 2012 until 16th of Nov 2012
Any transactions after 5pm on the last day of the quarter may not be reflected until the next quarter.

To answer the second part of your question, yes, salary payments do count towards the €3000 needed to qualify for the No Transaction Fee Offer.

If there's anything else we can do for you, just ask.

Thanks
Pat

Jame Gumb

Thanks for your help, Pat