Bank of Ireland fees

allthedoyles

Current Fee Structures
Pay As You Go
28c per transaction
OR
Flat Fee
€11.40 per quarter for up to
90 transactions and 28c each
for transactions over 90
-
-
-
New Fee Structure from 19th August 2013
Free Contactless payments until 18th August 2014
-
20c for Automated Transactions e.g. Visa Debit card, ATM,direct debits/standing orders and 365 phone/online and Mobile Banking transfers
-
40c for Paper/Staff Assisted e.g. Cheque/paper lodgements and withdrawals over the counter using paper or Visa Debit card
-
A maintenance fee of €5 per quarter

Simpler and more transparent say Bank of Ireland

From 19th August 2013, we’re introducing a simple and transparent fee structure for your Personal Current Account replacing our existing fee options

sean200

Bank off ireland have being over charging me on banking fees since last october
I signed up for the flat fee in october but they forgot to change me over
I got billed for fees in February and after weeks of ringing them they refunded me
Last week i got my bill again and yet again they over charged me and forgot to change me over to the flat fee
Keep an eye on you fees as Bank of ireland as they are trying there best to rip me off

Ardeehey

Sean200, how did you elect for the flat fee? Been a customer for years but was never offered the choice....as far as I'm aware but I may have just missed the chance!

macjohn

sean200 wrote: »

Bank off ireland have being over charging me on banking fees since last october
I signed up for the flat fee in october but they forgot to change me over
I got billed for fees in February and after weeks of ringing them they refunded me
Last week i got my bill again and yet again they over charged me and forgot to change me over to the flat fee
Keep an eye on you fees as Bank of ireland as they are trying there best to rip me off

Would you consider leaving them as result of such treatment?
They seem to rely on the fact that we will go on forums like this and complain but not take our business away.
If you felt a shop or pub was trying to rip you off then you wouldn't continue to give them your business

I found changing current accounts was easy and painless;
a few minutes of my time and a more productive use of my time than complaining (which I did)

PTSB offer free current account f you lodge at least €1500 a month.

L1011

Free contactless is the only real benefit here. I use contactless in preference to my credit card when available for time reasons. Otherwise use credit card and pay it once a month and withdraw much larger amounts at the atm than before so will likely end up paying more now

Fingleberries

Bank of Ireland wrote:

Here are some ways you can keep fees at a minimum or avoid them altogether.
...
Keep €3,000 in your personal current account
You don’t pay quarterly transaction fees if you keep a minimum of €3,000 in your Personal Current Account at all times. However you will still pay the €5 quarterly maintenance fee. Please note that we don’t pay credit interest on your current account balance and you may be missing out on potential interest by keeping a balance of €3,000 in your current account.

Link of the e-mail from Bank of Ireland - http://media.boimail.com/lp/link.aspx?elid=385651&ctid=30ba30ab45f690b9ffca3f59d20b7aba.

I still received it, even though I had moved bank already. Thanks, but I would prefer not to pay transaction fees or maintenance fees to access my money, thank you.

macjohn

MYOB wrote: »

Free contactless is the only real benefit here. I use contactless in preference to my credit card when available for time reasons. Otherwise use credit card and pay it once a month and withdraw much larger amounts at the atm than before so will likely end up paying more now

Again if its an issue for you would you consider changing provider?

(Presumably it is an issue for any of us that take the time to come on here and comment on the matter)

Actions louder than words and all that

L1011

macjohn wrote: »

Again if its an issue for you would you consider changing provider?

(Presumably it is an issue for any of us that take the time to come on here and comment on the matter)

Actions louder than words and all that

Last time I checked, no provider had a better deal or if they did they had horrible limitiations, e.g. being incompetent (Ulster) or limited (Danske - no counter or cash service - I do occasionally need to lodge foreign currency, cheques, etc).

PTSBs offer at the moment seems acceptable, but I need to figure out the opportunity cost of changing, e.g. it is going to require a fair amount of my time to do so, and their branch network is paltry compared to BOI, and I work on the road. Only used my "home" branch for my mortgage application, last three counter transactions I did were in Trim, Tallaght and Cahir - I live in Maynooth! If its worth it I'll go, I don't have loyalty to financial institutions, my five year NCB with five different insurer names on the forms is proof of that.

macjohn

MYOB wrote: »

Last time I checked, no provider had a better deal or if they did they had horrible limitiations, e.g. being incompetent (Ulster) or limited (Danske - no counter or cash service - I do occasionally need to lodge foreign currency, cheques, etc).

PTSBs offer at the moment seems acceptable, but I need to figure out the opportunity cost of changing, e.g. it is going to require a fair amount of my time to do so, and their branch network is paltry compared to BOI, and I work on the road. Only used my "home" branch for my mortgage application, last three counter transactions I did were in Trim, Tallaght and Cahir - I live in Maynooth! If its worth it I'll go, I don't have loyalty to financial institutions, my five year NCB with five different insurer names on the forms is proof of that.

askaboutmoney.com keep an excellent and up-to-minute list of best buys for current accounts

MYOB wrote: »

Last time I checked, no provider had a better deal or if they did they had horrible limitiations, e.g. being incompetent (Ulster) or limited (Danske - no counter or cash service - I do occasionally need to lodge foreign currency, cheques, etc).

.

Fair enough Ulster get bad press and yes their systems went down;
I have a current account with them and have had no problems
Their conditions have changed so now you need to lodge at least €3000 a month.

MYOB wrote: »

PTSBs offer at the moment seems acceptable, but I need to figure out the opportunity cost of changing, e.g. it is going to require a fair amount of my time to do so, and their branch network is paltry compared to BOI, and I work on the road. Only used my "home" branch for my mortgage application, last three counter transactions I did were in Trim, Tallaght and Cahir - I live in Maynooth! If its worth it I'll go, I don't have loyalty to financial institutions, my five year NCB with five different insurer names on the forms is proof of that.

Yes PTSB seems the best option at the mo.

Surely being on the road is an argument for changing ? If someone is on a production line all day everyday you can make the argument for using a nearby bank and accepting the costs.
Lot of branches between Trim, Tallagh, Cahir and Maynooth.

Opportunity costs? - Go in with your documents and it takes 15 to 20 minutes of your time.


I am not having a go, but we all find time to complain so I am saying why not find the time to act
Complaining rarely makes us feel better; positive action does

If people feel strongly about the B of I changes then act on the feelings, posting here wont save you money, changing bank will

L1011

macjohn wrote: »

Lot of branches between Trim, Tallagh, Cahir and Maynooth.

Still a fraction of the number BOI have. I cover 32 counties (albeit I suspect I'd have trouble dealing with a BOI NI...) for work so I need to be able to get branches pretty much anywhere, AIB have the closest coverage even after their closures.

macjohn wrote: »

Opportunity costs? - Go in with your documents and it takes 15 to 20 minutes of your time.

The "we'll change all your direct debits" thing simply doesn't work reliably. I know PTSB are advertising that they'll have someone to assist, but its still even more time to tie up the ~15 accounts that I get DDs in or more usually put DDs out to.

I'll wait to see what the first quarter of the new charges amounts to and decide then.

macjohn

MYOB wrote: »

Still a fraction of the number BOI have. I cover 32 counties (albeit I suspect I'd have trouble dealing with a BOI NI...) for work so I need to be able to get branches pretty much anywhere, AIB have the closest coverage even after their closures.



The "we'll change all your direct debits" thing simply doesn't work reliably. I know PTSB are advertising that they'll have someone to assist, but its still even more time to tie up the ~15 accounts that I get DDs in or more usually put DDs out to.

I'll wait to see what the first quarter of the new charges amounts to and decide then.

Yes, they have less branches (dont think its worth changing to AIB, similar charges)
But again if you cover the 26 counties you will never be a million mils away from a branch

MYOB wrote: »

The "we'll change all your direct debits" thing simply doesn't work reliably. .

Do you have evidence for this or is it just the standard Irish line we all use to avoid action???

I changed (ulster) no problem with the direct debits - ie money going out

Sister changed - no problems (ptsb)
Her husband changed - no problems (ptsb)

Anyone paying you money then yes you will have to give them the new details - Ulster offered to do it for me - so they can set the new details up on their systems. Not a biggie to be fair.

If anyone is are happy to stay with bof i then stay; just pointing out
I) dont complain :-) 2) know that exact same service free elsewhere for a tiny bit of effort

L1011

macjohn wrote: »

Do you have evidence for this or is it just the standard Irish line we all use to avoid action???

Yes, my parents and my brother both changed accounts and only about one third of DDs were changed successfully. Leading to overdue bills, etc, being sent.

macjohn

MYOB wrote: »

Yes, my parents and my brother both changed accounts and only about one third of DDs were changed successfully. Leading to overdue bills, etc, being sent.

Oh ok that would be frustrating alright and put people off changing.  Was any explanation provided/compensation offered?  

As I say thankfully all ours were seamless,  old bank sent copy of list of dds to me and to  the new bank  
in turn the new bank set them all up.

The Ayatolla

I switched to TSB and did the switch my self, contacted all my bill providers (most of which could be done via online login) and changed the bank details online or over the phone. Took about an hour, but it beats paying BOI 40 euros in fees every 3 months that's for sure. 

Action taken - satisfaction gained.

DubOnHoliday

The Ayatolla wrote: »

I switched to TSB and did the switch my self, contacted all my bill providers (most of which could be done via online login) and changed the bank details online or over the phone. Took about an hour, but it beats paying BOI 40 euros in fees every 3 months that's for sure. 

Action taken - satisfaction gained.

What documentation do you need to set up a new account with them? Thanks.

beglee

Was thinking recently I should really switch to the flat fee, as I'd make a decent saving. Its way too much as it is, working out at about €120 a year :eek:
But does this new structure mean that there will be no flat fee any more? That's my reading of the OP & the email i got anyway.

I've setup a 2nd current account with PTSB to try them out. €12 quarterly fee if you dont deposit 1500 every month. So if it became my main current account, it would essentially be free banking due to my salary going in there every month.

The Ayatolla

beglee wrote: »

Was thinking recently I should really switch to the flat fee, as I'd make a decent saving. Its way too much as it is, working out at about €120 a year
But does this new structure mean that there will be no flat fee any more? That's my reading of the OP & the email i got anyway.

I've setup a 2nd current account with PTSB to try them out. €12 quarterly fee if you dont deposit 1500 every month. So if it became my main current account, it would essentially be free banking due to my salary going in there every month.

To keep it free just transfer 1500 in, and back out again over a 2 day period. that will work.

The Ayatolla

DubOnHoliday wrote: »

What documentation do you need to set up a new account with them? Thanks.

Two forms of ID - Passport & Driving License

2 types of proof of address - eg; Utility bill, bank statement (try and have them as recent as possible, i think 6 months is the max)

Proof of PPS number - I gave my Tax Credits form for 2013. I presume a scan of your Social welfare card, or something else would suffice, or any letter from the revenue with your PPS number on it

If you bring these to a branch, I believe they can set you up on the spot, with your VISA card posted in 3-4 days. 

I set all mine up over phone/post, and it took about a week in total.

cirrus55

I have been a Bank of Ireland customer for over 15 years. But after reading news of these new charges coming in, I will be closing all my accounts with Bank of Ireland. Disgusted ex customer. Hello Permanent TSB

http://www.independent.ie/business/personal-finance/latest-news/rivals-set-to-follow-as-bank-of-ireland-hits-customers-with-raft-of-new-fees-29343738.html

The Ayatolla

The only way to combat this is to move banks, plain and simple. Setup a TSB account, run your BOI account side by side with it until all your direct debits are moved etc, and once sorted, bank transfer everything over and close your BOI account. Easy peasy.

sean200

Ardeehey wrote: »

Sean200, how did you elect for the flat fee? Been a customer for years but was never offered the choice....as far as I'm aware but I may have just missed the chance!

You have to ask for it 
What i have done to reduce my fees is i am using my VISA card which allows free usage and then one a month i pay if off

sean200

macjohn wrote: »

Would you consider leaving them as result of such treatment?
They seem to rely on the fact that we will go on forums like this and complain but not take our business away.
If you felt a shop or pub was trying to rip you off then you wouldn't continue to give them your business

I found changing current accounts was easy and painless;
a few minutes of my time and a more productive use of my time than complaining (which I did)

PTSB offer free current account f you lodge at least €1500 a month.

i have just contacted PTSB

niallo27

I changed to PTSB. I went to close my account in boi. They didn't give a flying **** I was changing. Why anyone would pay fees to these robbing shower I'll never know.

Benzino

I'm kinda glad they did this now. I was thinking about setting up a savings account with them. Now I'm just gonna leave, probably to PTSB also. I see no reason why I should pay these extra fees, they are offering me nothing in return for them.

daheff

Fingleberries wrote: »

Link of the e-mail from Bank of Ireland - http://media.boimail.com/lp/link.aspx?elid=385651&ctid=30ba30ab45f690b9ffca3f59d20b7aba.

I still received it, even though I had moved bank already. Thanks, but I would prefer not to pay transaction fees or maintenance fees to access my money, thank you.

I haven't quite got to close my account yet, but never received this notification. I have nothing in my online inbox...strange that they only send it to some people and not all.

In fairness at least they learnt to communicate the changes in a better manner than the farcical way they did when introducing fees.

Bank of Ireland: Laura

Hi daheff.

Thanks for your post.

We will be communicating the new feestructure to all of our Personal Current Account holders. 
For customers who wedo not have a valid email address for, we will be sending them a letter by post. We also have other methods of communicating this important message e.g. press advertisement, which will be done in the coming weeks.

We hope this helps clarify things.
Laura

sean200

Bank of Ireland: Laura wrote: »

Hi daheff.

Thanks for your post.

We will be communicating the new feestructure to all of our Personal Current Account holders. 
For customers who wedo not have a valid email address for, we will be sending them a letter by post. We also have other methods of communicating this important message e.g. press advertisement, which will be done in the coming weeks.

We hope this helps clarify things.
Laura

To clarify things the banks that destroy this country and now screwing the Irish people my putting up their fees
These same banks asked the government to make the post office cut their interest rate they were paying on saving accounts so the bank could ever screw the irish people more
If you have one ounce of morals at all close your bank account with bank of Ireland today

Boards.ie: Nicola

Sean200, this is a customer service forum not a place for you to vent against Bank of Ireland.


Unless you have a specific customer service query or valid feedback, please do not post again. 

antoobrien

Will the flat fee option (€11.40 for 90 transactions) be available under the new pricing structure or will it be per transaction only?

Bank of Ireland: Tara

Hi antoobrien,

Thanks for getting in touch.

The new fee structure is replacing the existing fee options so from 19th August 2013 the Flat Fee and Pay as You Go options will no longer be available. You can find information on the new fee structure here.

Thanks
Tara

antoobrien

Bank of Ireland: Tara wrote: »

Hi antoobrien,

Thanks for getting in touch.

The new fee structure is replacing the existing fee options so from 19th August 2013 the Flat Fee and Pay as You Go options will no longer be available. You can find information on the new fee structure here.

Thanks
Tara

Hi Tara

just wanted to confirm that the fees were per tx as outlined and that there would be no flat fee structure.

Will there be a full fee schedule outlining how much online tx etc will cost?

Thanks

antoobrien

Bank of Ireland: Linda

Hi antobrien,

Yes, you are correct that there is no Flat Fee option with the new schedule of fees and charges taking effect on the 19th of August 2013. Online transactions, lodgement atm's and Visa Debit card transactions will all be considered self service options and therefore charged at 20c per transaction.

Please note that Contactless transactions is currently free of charge.

I hope this clarifies your question for you.

Thanks
Linda

antoobrien

Bank of Ireland: Linda wrote: »

Hi antobrien,

Yes, you are correct that there is no Flat Fee option with the new schedule of fees and charges taking effect on the 19th of August 2013. Online transactions, lodgement atm's and Visa Debit card transactions will all be considered self service options and therefore charged at 20c per transaction.

Please note that Contactless transactions is currently free of charge.

I hope this clarifies your question for you.

Thanks
Linda

Yes, thanks.

The Ayatolla

0.20 per transaction? if thats not good enough reason for anyone to move to PTSB then I don't know what is.

JP Liz V1

So is it 68c per transaction over the counter now?

Bank of Ireland: Paula H

Hi JP Liz V1

No, from 19th August an over the counter transaction will cost 40c, automated transactions - online, phone, Apps - will cost 20c.

You can find out more information on the new fee structure here

Hope that clarifies it for you. 

Thanks for posting. 

Paula H

Bunnyhopper

My understanding is that with BoI's existing current account rules the minimum €3000 for free transactions has to be in the account for the full quarter. So anyone withdrawing that amount and going below €3000 before 16th August will get hit for fees for the current quarter.

If closing a BoI current account and withdrawing the €3000, on what date should one ask for funds to be transferred out of the account in order to avoid transaction fees in either quarter? 16th August? 19th August?

Thanks.

Bank of Ireland: Linda

Hi Bunnyhopper,

As this is very account specific, we would not be able to give a definite answer here. If you would like to pm us your full name, branch and contact number we can organise someone to contact you with the correct information.

Thank you very much

Thanks
Linda

murphaph

What is account specific about that question? Seems very general to me.

Big Vern

If i transfer money from my BOI current account to my BOI credit card im going to be charged 20cent for this as well as €5 per quarter? Also is there a 20cent charge for money going into my account, i.e. my wages every week?

Bank of Ireland: Paula C

Hi murphaph,

We are here to answer as many queries as possible , however the above question in relation to closing an account and avoiding fees is very account specific as the answer depends on what fee category a customer is on.
In order to provide the correct information, we will need to pass this on to the account holding branch to investigate.

Thanks for taking the time to post.

Paula C

Bank of Ireland: Tara

Big Vern wrote: »

If i transfer money from my BOI current account to my BOI credit card im going to be charged 20cent for this as well as €5 per quarter? Also is there a 20cent charge for money going into my account, i.e. my wages every week?

Hi Big Vern,

The €5 is a quarterly maintenance fee that we are introducing for all Personal Current Accounts from 19th August, regardless of how many transactions they have or what balance they maintain in their account.

At the moment automated credits or debits in or out of your account are charged a 28c transaction fee. From 19th August we are reducing this to 20c. Automated transactions include, but are not limited to, electronic credits like salaries, payments made with your card at point of sale, online or ATM, 365 phone or online payments, direct debits, standing orders etc.

Hope this helps to clarify things. If you do need help with any other questions, please feel free to ask.

Thanks
Tara

Piper101

Just here to vent! Have been with boi 16 years and at final straw. On Wednesday I got charged 30 euro overdraft fees thereby PUTTING ME INTO MY OVERDRAFT and today 56 euro 'notified fees'.

Finally! Goodbye boi!

Big Vern

Bank of Ireland: Tara wrote: »

Hi Big Vern,

The €5 is a quarterly maintenance fee that we are introducing for all Personal Current Accounts from 19th August, regardless of how many transactions they have or what balance they maintain in their account.

At the moment automated credits or debits in or out of your account are charged a 28c transaction fee. From 19th August we are reducing this to 20c. Automated transactions include, but are not limited to, electronic credits like salaries, payments made with your card at point of sale, online or ATM, 365 phone or online payments, direct debits, standing orders etc.

Hope this helps to clarify things. If you do need help with any other questions, please feel free to ask.

Thanks
Tara

Hi,

So just to clarify if I transfer money from one BOI accountto another BOI account, online its going to cost me money? If I get my wages paid into my account its going to cost me money?
I have just recently been hit with charges (I went under 3kin may account and its very unlikely to go back over that amount), I was under the impression that these charges were for using ATM, but transferring between my BOI accounts, online!! How is there a charge for that! Can you explain to me how that costs the bank money!

Also was just reading this link on BOI.

https://personalbanking.bankofireland.com/bank/current-accounts/personal-current-account-fees-and-charges/
How this affects our 'No Transaction Fees'Offer: If you'rekeeping a minimum balance of €3,000 in your account for the full fee quarter, to qualify for our No Transaction Fees offer, you will still have to pay the €5 quarterly maintenance fee. Please notethat we don't pay credit interest on your current account balance and you may be missing out on potential interest by maintaining a balance of €3,000 in your current account.
And in particular the bold sentence, are BOI encouraging people not to have €3000 in their accounts so they will be charged further fee's!?

Bank of Ireland: Laura

Hi Big Vern.

It has always been the case that customers incur transaction charges on all payments in and out of accounts, even when funds are being transferred between Bank of Ireland accounts.

In relation to our No Transaction Fees Offer, we have always been up front and transparent advising customers that by maintaining a minimum balance of €3000 in the account that they will not earn any interest on these funds.

Please see here for the link to the fees and charges on personal current accounts.

Hope this helps clarify the issue for you.
Laura

bidiots

This is the most patronising thread I've ever read!

paulheu

Having moved to Ireland late last year and since the company I work for banks with BOI I had my current account set up wit them. I found however they are an extremely expensive bank with a very non-customer centric approach to us 'small fish'. Charges left and right and no way to get a straight answer from anyone. Unwilling to help out on a short term financial issue well covered by money paid in to the account.

Needles to say I am in the process of switching to TSB who obviously are far more friendly towards normal working people and offer a true flat fee on transactions. Expecting people to only do 1 transaction a day for €14 a quarter is just silly. Getting charged an extra €35 for transactions is plain ridiculous. The fact that they charge these idiotic amounts for fully automated processes is bordering on being questionable practice.

1 less account to extort money from shortly. Good luck staying afloat with these money grabbing practices,

Bank of Ireland: Sean

paulheu wrote: »

Having moved to Ireland late last year and since the company I work for banks with BOI I had my current account set up wit them. I found however they are an extremely expensive bank with a very non-customer centric approach to us 'small fish'. Charges left and right and no way to get a straight answer from anyone. Unwilling to help out on a short term financial issue well covered by money paid in to the account.

Needles to say I am in the process of switching to TSB who obviously are far more friendly towards normal working people and offer a true flat fee on transactions. Expecting people to only do 1 transaction a day for €14 a quarter is just silly. Getting charged an extra €35 for transactions is plain ridiculous. The fact that they charge these idiotic amounts for fully automated processes is bordering on being questionable practice.

1 less account to extort money from shortly. Good luck staying afloat with these money grabbing practices,

Hi paulheu,

We are sorry to hear you are unhappy with the new Fee structure and are now closing your account, we will be sorry to lose you.  We wish you all the best in the future.

Regarding the figures you have included in your post, we are not 100% sure where you got them.  Can you please clarify how you got these figures?

Thanks for posting

Seán

paulheu

Hi Seán,


How I got to these figures;


Fee €11/quarter for 90 transactions (OK, it's not €14 but that's irrelevant really) that implies on average 1 transaction/day (actually less). I had a total of 161 transactions for last quarter and was charged an extra €35 because of that. To avoid charges I need to keep €3000 in my account throughout the quarter


At TSB I get charged €11/qrt regardless of how many transactions I do as long as I lodge €1500/mo.

Bank of Ireland: Sean

paulheu wrote: »

Hi Seán,


How I got to these figures;


Fee €11/quarter for 90 transactions (OK, it's not €14 but that's irrelevant really) that implies on average 1 transaction/day (actually less). I had a total of 161 transactions for last quarter and was charged an extra €35 because of that. To avoid charges I need to keep €3000 in my account throughout the quarter


At TSB I get charged €11/qrt regardless of how many transactions I do as long as I lodge €1500/mo.

Hi paulheu,

Thanks for the information.

We have reduced the charge for automated transactions from 28c to 20c.  Please see here for tips that may help you reduce your fee's if you choose to remain with us.
 

Thanks

Seán

JP Liz V1

For the €5 charge per quarter which is €20 per year correct? What is this for exactly?