Charges / Fees

Fingleberries

Bank of Ireland: Tara wrote: »

Hi Discostu1984,

We've received your PM, thank you. I'll forward the details to the branch to ensure they are adhering to the correct escalation procedures.

Thanks again and if we can help with anything in the future, please feel free to ask.
Tara

Dear Bank of Ireland,

Following on from previous comments from other posters, it is a great shame that the Consumer Products division of Bank of Ireland made the draconian changes to the No Transaction Fees offer. Honestly, if most people had a spare €3,000 lying around, there are other investment vehicles that could actually earn them money rather than being locked into an account unable to be touched and not even earning a tiny percentage of interest.

When contacting Bank of Ireland before by phone about this I was essentially told "Ah, well. Not much we can do for you. You could move to the flat-ish rate?". I understand that those in support cannot always have a direct impact when customers call, but surely at this stage the message must have reached those further up the management and planning chain.

Unless the message from customer is being two daily newspapers on an obscure Thursday, on the back of a bank statement or maybe on a page somewhere on the internet. Then I could understand how the message might be missed.

Having been a Bank of Ireland customer for over 20 years, I have recently completed the transfer of my banking business to other financial institutions - for Credit Card, Current account, Home Insurance and Life Assurance. As a much better deal was available elsewhere.

In particular, the Permanent TSB offer of no fees is imminently more palatable than the Bank of Ireland proposition. There is a much lower requirement for funds coming into the account, and if for some reason you can't reach that figure there is a fixed €12 cost for the quarter - not €11.40 for the first 90 transactions and 28c per transaction.

As may be the case in other households, Bank of Ireland have lost not only me as a customer, but also my spouse and several members of my extended family. Is it any wonder that Permanent TSB appear to be hoovering up the Consumer Banking sector (opening of new accounts is up 60% for this quarter alone).

It was a shame to have to move, as I had an affinity with Bank of Ireland as it was the account I opened when still in school. However, logic dictates that sentiment can have little to do with finance and unfortunately, it appears for Bank of Ireland that multiple customers in circles of family and friends are all following suit.

Kind regards,
F.

The Ayatolla

Account opened with TSB, only took 4 days from the day I posted off the forms. Probably be faster if you did it at a branch. 

Online banking set up over the phone. No pricking around waiting for Pins in the post for online banking.

Funds currently being transferred from BOI to TSB. Should be there tomorrow hopefully. Happy bloody days. 

Very smooth transition. Would thoroughly recommend. And TSB's customer service agents were top notch.

EAFC_rdfl

Hi BOI,

I was away for a couple of weeks with work and got back to find a quarterly fees statement waiting for me. For the quarter in question I was making sure I wouldn't get stung like I did in the previous quarter - by making 9 365 online transfers between 18/2 and 17/5. So confused I said I better check it out to be sure, and yes there are 9 there. only then I decided to take a look first on BOI and then on here, to see why I didn't qualify to have those fees waived.
And only now do I see that you amended the conditions for waiving the fees. What sort of way is an ad in a newspaper to communicate this message to your customer? Can you just confirm that only by keeping my current account balance above 3k for the duration of the quarter do I then qualify for the fee waiver? Is this likely to be reviewed? Your answer will determine whether I make a move away from BOI or stick with it. I guess you noticed a trend pre-ammending the conditions whereby anyone with an ounce of cop on made sure to make 9 online transactions for the quarter, e.g. one euro at a time.... I hope the genius who came up with that originally gets a nice bonus.

Bank of Ireland: Billy

Hi EAFC_rdfl,


Thanks for posting.


Can I just clarify that the changes to the qualifying criteria was notifiedin a number of different ways. We also communicated the changes on all Personal Current Account statementsissued since November 2012, both paper and eStatements, press release on bankofireland.com, in branch signage and our socialmedia channels.  


As you correctly mention, to meet the qualifying criteria for the "No Transsaction Fee Offer" for current accounts, you would need to maintain a minimum balance of €3,000in your account for the full fee quarter.

Fees and charges are constantly reviewed.


Thanks


Billy

Skatedude

Finally paid of my loan, so account is now closed and moved to PTSB.  the last terms and conditions giving access to you mobile phone address book was the final nail in the coffin.

Bank of Ireland: Paula C

Hi Skatedude,


Thank you for your post.


We are sorry to hear we may be losing your business, if there is anything we can help you with here please do not hesitate to contact us.


Thanks,

Paula C

pitkan

I've got the ok from TSB , so it's goodbye to BOI and their charges.

The Ayatolla

As above  

Just waiting for my savings account with BOI to mature at end of July before I move the rest of my funds. Roll on the 25th!

stimpson

I'm off too. 25 years with Bank of Ireland. This is the straw that broke the camels back. Permanent TSB here I come.