New fees from Nov 19

Kenny Powers

I went into my local branch yesterday to make sure I am set up to pay the flat rate fee 11.40e per quarter.

I opened my account about 15 years ago it was a student account and it turns out its set up as a pay as you use account so .28c per transaction.
I asked for it to be changed to the flat rate fee and was told it would not come into effect till the next quarter in February.
This is outrageous and just another way of ripping off your customers after 15 years banking with BOI i'd expect more than this.

When I told the CS agent on the desk i'd move my account to Ulster Bank who have no fees if she couldn't do something for me and set up the flat rate fee with immediate effect she asked if she would close my account for me there and then.

Great service guys, I imagine once people who are stuck on pay as you go rates get there statements next quarter alot more will follow and jump ship.

Bank of Ireland: Billy

Hi Kenny Powers,

Apologies for the experience you had in your local branch.

As the current fee quarter has already started, it is not possible to change your fee category mid-quarter.

We took out ads in two national newspapers, had notices in branches, notified our customers on Boards and other social media channels about the change in the criteria for the No Transaction Fee Offer. We also advised how to change fee category and the dates this would need to be done by.

Thanks

Billy

Kenny Powers

Bank of Ireland: Billy wrote: »

Hi Kenny Powers,

Apologies for the experience you had in your local branch.

As the current fee quarter has already started, it is not possible to change your fee category mid-quarter.

We took out ads in two national newspapers, had notices in branches, notified our customers on Boards and other social media channels about the change in the criteria for the No Transaction Fee Offer. We also advised how to change fee category and the dates this would need to be done by.

Thanks

Billy

Hi Billy,

I'm aware of all the ads in the paper etc. Which is the reason why I visited my local bank, I don't recall any warning telling your customers to check if there account is pay as you go or set up for flat rate fees and nothing saying this has been to be set up before the quarter starts. As the new fees came in yesterday 19th I presume this is the start of the quarter so I don't see why my account couldn't have been changed.

Bank of Ireland: Billy

Hi Kenny Powers,

Please see a Boards sticky we posted on 21/09 re: the changes to the qualifying criteria for the No Transaction Fees offer and details on fee categories and how to make an amendment:

Bank of Ireland: Linda wrote: »

Hi everyone,



Please note we have made a change to our qualifying criteria for our No Transaction Fees offer. You can find more information here.



Our transaction fees remain the same. There are two options available for customers.

a) Pay as you go: 28c for each transaction.



b) Flat fee option: €11.40 per quarter for 90 transactions. Transactions in excess of 90 costs 28c each.



If you wish to amend the fee category you are on before the above take effect you will need to make the amendment before 16th of November 2012. You can contact the branch or Banking 365 to discuss.

The contact number for Banking 365 is 0818 365 365.



There will also be a change in the replacement card charge from €5.90 to €8.00. This will not effect customers in the automatic roll-out of Visa Debit cards.



Thanks

Linda

Thanks

Billy

Kenny Powers

Hi Billy,

That's all well and good for people that use boards, until today I didn't even know you had your own forum here.

I see no mention of it on your website where most people would go to find out information.

LINK

No Transaction Fees Offer

Our No Transaction Fees Offer means customers who meet certain qualifying criteria are not charged the quarterly account transaction fees on their Standard Personal Current account for the following:

Withdrawals.
Lodgments.
Direct debits and standing orders.
Debit card transactions and cash-back. Charges may apply to debit card transactions when made abroad. Refer to the schedule of fees and charges
Cheques


See our brochure "Schedule of Fees and Charges for Personal Customers" November 2012 for full details of fees and charges, including Government Stamp Duty and interest surcharges, that may apply to your personal current account.

To qualify for this offer in the fee quarter you must:

Maintain a minimum credit balance of €3,000 in your Personal Current account throughout the full fee quarter. Please refer to our Schedule of Fees and Charges for specific dates for our fee quarters.

Lodgements received and payments made after cut off times or anytime on a non-banking day (i.e. Saturday, Sunday or bank/public holiday) may not be reflected in the account until the following working day. There are different cut off times for different transactions. Please contact your branch for details. Our No Transaction Fees Offer is based upon the overnight balance that appears on your regular statement. There may be a difference between this balance and other sources of balance information available such as ATM, online, phone, or branch printed statements.

There is also no mention in your Schedule of Fees:
http://www.bankofireland.com/fs/doc/wysiwyg/120121023web-version-fees-and-charges-final.pdf

I also don't recall this being printed in the newspapers.

Bank of Ireland: Pat

Hi Kenny,

Apologies again that it was not made clearer that you would need to notify us before the fee quarter began. You are correct, it wasn't mentioned in the press notification that was sent out in the papers. However, it is covered in the Schedule of Fees and Charges that you linked to in your post. Please see the first page of the 'Personal Current Accounts' section.

If you have more than 40 transactions per quarter, the Flat Fee
option of €11.40 for up to 90 transactions is the better one for
you. You can switch between the two options at any stage by
contacting your branch. The change will take effect from the
beginning of the next fee quarter.

Regrettably, once the fee quarter has began, our systems will not allow the change of the pricing option to be backdated to the beginning of the quarter.

Apologies again for the inconvenience that this has caused. We will be passing on your feedback to our Consumer Banking team.

Thanks
Pat

Kenny Powers

Bank of Ireland: Pat wrote: »

Hi Kenny,

Apologies again that it was not made clearer that you would need to notify us before the fee quarter began. You are correct, it wasn't mentioned in the press notification that was sent out in the papers. However, it is covered in the Schedule of Fees and Charges that you linked to in your post. Please see the first page of the 'Personal Current Accounts' section.



Regrettably, once the fee quarter has began, our systems will not allow the change of the pricing option to be backdated to the beginning of the quarter.

Apologies again for the inconvenience that this has caused. We will be passing on your feedback to our Consumer Banking team.

Thanks
Pat

The 16th of November cut off to change your account from pay as you use to flat rate fee was not mentioned anywhere except in the post on boards . ie which you pointed out.
This is unacceptable I'm sure there many more people in the same same boat as me. It looks like this change was timed to catch people out over the Christmas period.

I will be reporting this to the Central Bank for further investigation.

In the mean time I will also be moving my accounts to Ulster Bank who have no fees.

harolds57

Done the same myself, moved to ulster bank. Dont forget to return any un used cheques you have before closing as you will get credit for them, also insist on a full statment for the year, again your entiled to this so dont let them charge you for this.
As i have said previously bank of ireland just treat there customers with contempt. Having ireland in there name is shameful, wish there was a law to stop them using it, there one of the banks that broke ireland and the people, should be the bank that broke ireland.