Current Account Fees

Longford Lass

Fees introduced from Nov 19th but in fact it seems these fees relate to the period Aug 20th to Nov 16th...am I correct on this???
Just calculated my fees there and while I only have 7 txs from the above date (19.11) to present I've been charged 8.96!!
What happened to the free fees before the introduction date of Nov 19th??
Also...can someone confirm that I'm now paying 6.35 per quarter for the privilege of having a monthly s/o on my account?? This works out at approx e2.12 per tx when I could transfer it online myself for .28c.
Just want to go into 2013 well informed as to all things bank charges related!!
Many thanks....

Bank of Ireland: Pat

Hi Longford Lass,

Thanks for your query.

You are correct that the fee quarter that you are being charged for ran from the 20th of August to the 16th of November, however, the Current Account transaction fees were not introduced on the 19th. The fees were in place before this. The change that was made on the 19th was in relation to the qualifying criteria to our No Transaction Fee Offer. You can find more information about this change here.

The €8.96 that you've been charged was for the transactions that were made from the 20th of August to the 16th of November. To not pay fees for the fee quarter that you're referring to, you would have needed to make at least 9 online transactions (not including Standing Orders or Direct Debits) and lodge a minimum of €3000 into your account during that period. If you believe you've met the criteria for the No Transaction Fee Offer during that period please ring Banking365 on 0818 365 365 and a representative will be happy to check into it for you.

In relation to the query you had about Standing Orders, a Standing Instruction and a Standing Order are two separate types of transactions.

The € 6.35 fee that you mention above refers to a Standing Instruction. This is a specific instruction from a customer to do a complete sweep of funds from their account to another on a weekly, monthly or a quarterly basis, leaving the account balance at zero. This is only available to business customers.

A Standing Order is a request made to the bank to pay a set amount at regular intervals to another account. The charge for a standing order is 28c per transaction.

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

Thanks
Pat

Longford Lass

Thanks Pat!
Will check this out and contact 365 if necessary.
1 further question for you....
Overdraft Facility Charge....I read somewhere it was going up to e30 but was in bank today and guy said it was going up to e35??
Can you confirm this for me please.
Cheers!

Bank of Ireland: Pat

Hi Longford Lass,

I can confirm that the Overdraft Facility Fee for personal customers is being increased to €30 starting on the 18th of February. If there's anything else we can help you with, please ask.

Thanks
Pat