Premium banking -whats it all about?

daheff

Hi

A family member got a letter last week about them now having premium banking. From looking at the letter she got, I cant see whats 'premium' about it ...everything mentioned is available by walking into the branch.

Can somebody advise on what the difference is? Also is there additional fees applicable for this?

dublin daz

Are you sure it wasn't Private Banking?  That is a premier service offered by the Bank to high net-worth individuals.

daheff

dublin daz wrote: »

Are you sure it wasn't Private Banking?  That is a premier service offered by the Bank to high net-worth individuals.

NoI'm sure it was Premium banking. My family member definitely could not be classed as high net-worth!

Shes worried that with the recently introduced fees that she will then get more fees because of this.

Bank of Ireland: Sean

Hi daheff,
 
Premier banking is an expansion and broadening of our existing relationship managed banking approach. We'd be happy to arrange for one of our advisers to give your family member a call to talk them through the service in more detail.  Alternatively they can call an adviser directly with the number provided on the letter. 

 

Thanks for posting

 

Seán

 

daheff

Bank of Ireland: Sean wrote: »

Hi daheff,
 
Premier banking is an expansion and broadening of our existing relationship managed banking approach. We'd be happy to arrange for one of our advisers to give your family member a call to talk them through the service in more detail.  Alternatively they can call an adviser directly with the number provided on the letter. 

 

Thanks for posting

 

Seán

So I tried this. Rang the number given, but was told that this wasnt the correct line! They said they'd pass on the details to the correct people to call but no call was either received by me or the account holder.

So maybe one of the boards reps can advise here (for the benefit of others as well as myself and my family member)
1- Does this 'Premium Banking' mean more/higher bank charges?
2- What exactly does it entail?

daheff

I actually saw this in the paper today....funny coincidence and all that!

http://www.irishtimes.com/business/sectors/financial-services/cantillon-boi-s-enhanced-banking-experience-1.1391886

Irishtimes wrote:

If you are a Bank of Ireland customer with money to spare, you might have been invited in recent days to avail of the bank’s new “Premier” banking service.
Aimed at filling the gap for those who lack the €1 million or so in investable assets required to qualify for “high net worth status”, but still have money to play around with, BOI’s new advisory service is targeted at people on higher incomes who have a need for “enhanced financial advice”.
The new approach represents an extension of BOI’s existing managed banking approach, and invited customers have been appointed a “Premier Advisor” whom they can contact to discuss their financial needs.
The bank is currently implementing the initiative on a pilot basis at the moment, with “Premier” wealth advisers attached to about half a dozen branches. However, BOI believes there is sufficient demand to roll out the service further; evidently the bank isn’t short of customers who fit the criteria, despite the recession.
According to the bank, the core of Premier Banking is about “offering customers an enhanced banking experience that ensures that they get the most from their banking relationship with us”.
So, mortgages and loans all round then?

Dont think my family member has money to spare...barely making ends meet with a mortgage!

Bank of Ireland: Billy

daheff wrote: »

So I tried this. Rang the number given, but was told that this wasnt the correct line! They said they'd pass on the details to the correct people to call but no call was either received by me or the account holder.

So maybe one of the boards reps can advise here (for the benefit of others as well as myself and my family member)
1- Does this 'Premium Banking' mean more/higher bank charges?
2- What exactly does it entail?

Hi daheff, 

No charges apply to the Premier Banking service.

It's a service whch is tailored to individual baking needs and is account specific. 
We're sorry you encountered problems getting through to the Premier Support Team on the number on the brocuhre.

If you would like to send a PM with your family members name and contact details we can arrange for a member of the team to make contact. 

Thanks

Billy

daheff

Bank of Ireland: Billy wrote: »

Hi daheff, 

No charges apply to the Premier Banking service.

It's a service whch is tailored to individual baking needs and is account specific. 
We're sorry you encountered problems getting through to the Premier Support Team on the number on the brocuhre.

If you would like to send a PM with your family members name and contact details we can arrange for a member of the team to make contact. 

Thanks

Billy

Thanks Billy...but my family member is well able to bake...in fact I dont think that BOI could help her out her

As for the premium banking...as long as there are no extra charges, I think shes not going to be interested.