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New fees- are you serious!

  • 14-06-2013 1:59pm
    #1
    Registered Users, Registered Users 2 Posts: 1,050 ✭✭✭


    Ok so I just came to terms with the fact that I have on average 110 transactions per quarter.

    I opted for the €11.40 which was costing approx €17 per quarter. Am I reading the email from you guys correctly!! Is the flat fees option gone now!???? Will I now be charged €5 Plus 20c per transaction? bringing the cost of 110 transactions up to a total of €27?

    If so I have had enough. Please advise. I wil be changing bank asap if this is the case. It's a joke.


Comments

  • Closed Accounts Posts: 230 ✭✭Bank of Ireland: Sean


    Ok so I just came to terms with the fact that I have on average 110 transactions per quarter.

    I opted for the €11.40 which was costing approx €17 per quarter. Am I reading the email from you guys correctly!! Is the flat fees option gone now!???? Will I now be charged €5 Plus 20c per transaction? bringing the cost of 110 transactions up to a total of €27?

    If so I have had enough. Please advise. I wil be changing bank asap if this is the case. It's a joke.
    Hi whatlliwear,

    We are sorry to hear you are unhappy with the new fee structure and you are now considering closing your account.  We value all our customers and we are sorry to hear that.

    You are correct, the 'Flat Fee' and 'Pay as you go' options will longer be available from the 19/08/2013.  All personal current account holders will now have to pay a €5 maintenance fee each quarter as well as the appropriate transaction fee.  Please see the following link here, it may be able to help you reduce the amount of transactions you have.  Alternatively you can contact your branch and a customer adviser will be happy to discuss how you can reduce your fees.

    Thanks

    Seán


  • Registered Users, Registered Users 2 Posts: 1,050 ✭✭✭whatlliwear


    This is outragous! What do I need to do to change from your bank? I have had enough.


  • Registered Users, Registered Users 2 Posts: 16,107 ✭✭✭✭niallo27


    Ring PTSB and ask them to change your account. Too many lazy people letting boi get away with robbing people. Get off your arse and change.


  • Registered Users, Registered Users 2 Posts: 2,557 ✭✭✭madalig12


    'We value all our customers' what a laugh, you value their fiver every month more like.


  • Closed Accounts Posts: 230 ✭✭Bank of Ireland: Sean


    This is outragous! What do I need to do to change from your bank? I have had enough.
    Hi whatlliwear,

    We are sorry to lose your business, if you wish to close your account please contact your local branch to arrange an appointment.

    If there is ever anything else we can help you with in the future please let us know.


    Seán


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  • Registered Users, Registered Users 2 Posts: 77 ✭✭Pixie84


    What a nice surprise email today.  Absolute disgraceful fees,as if it's not expensive enough already.  Loyal customers are being treated like dirt again.   :mad:


  • Registered Users, Registered Users 2 Posts: 531 ✭✭✭macjohn


    Pixie84 wrote: »
    What a nice surprise email today.  Absolute disgraceful fees,as if it's not expensive enough already.  Loyal customers are being treated like dirt again.
    As per the replies above change bank
    If they are disgraceful as you say then change bank


  • Registered Users, Registered Users 2 Posts: 9,625 ✭✭✭wmpdd3


    Hi whatlliwear,

    We are sorry to lose your business, if you wish to close your account please contact your local branch to arrange an appointment.

    If there is ever anything else we can help you with in the future please let us know.


    Seán
    Cancel all DDs and SOs on the account first.

    Write a letter to you branch giving the account number etc.
    The date you want it closed.
    Where you want the balance moved to, if any.
    they will bill you any account fees that will be owed, but not until the end of the next quarter. 

    Walk in, hand the letter to the first poor soul manning the machines and take that person's name.

    Job done.


  • Registered Users, Registered Users 2 Posts: 338 ✭✭Straylight


    wmpdd3 wrote: »
    Cancel all DDs and SOs on the account first.

    Write a letter to you branch giving the account number etc.
    The date you want it closed.
    Where you want the balance moved to, if any.
    they will bill you any account fees that will be owed, but not until the end of the next quarter. 

    Walk in, hand the letter to the first poor soul manning the machines and take that person's name.

    Job done.

    Actually there's no need to do all that.  The bank you wish to change to should have a switching team who will take care of balance transfers, direct debits, etc., for you.


  • Closed Accounts Posts: 158 ✭✭sungear


    Straylight wrote: »
    Actually there's no need to do all that.  The bank you wish to change to should have a switching team who will take care of balance transfers, direct debits, etc., for you.
    This is outragous! What do I need to do to change from your bank? I have had enough.
    It seems clear, its been coming for a while, they want people to close their accounts.


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  • Registered Users, Subscribers, Registered Users 2 Posts: 47,351 ✭✭✭✭Zaph


    Hi whatlliwear,

    We are sorry to hear you are unhappy with the new fee structure and you are now considering closing your account.  We value all our customers and we are sorry to hear that.

    You are correct, the 'Flat Fee' and 'Pay as you go' options will longer be available from the 19/08/2013.  All personal current account holders will now have to pay a €5 maintenance fee each quarter as well as the appropriate transaction fee.  Please see the following link here, it may be able to help you reduce the amount of transactions you have.  Alternatively you can contact your branch and a customer adviser will be happy to discuss how you can reduce your fees.

    Thanks

    Seán

    Out of curiosity, how many customers do Bank of Ireland expect to lose from this change in fee structure?  I've no doubt it was built into the calculations before the new fees were decided upon.  I've been a customer for 30 years and all I've seen over the last few in particular is a continuous erosion of services to the point where it seems that personal customers are merely an annoyance to the bank now.  I'll certainly be looking into what other options are available to me.


  • Closed Accounts Posts: 230 ✭✭Bank of Ireland: Sean


    Hi all,

    Just to make it clear, Bank of Ireland values all their customers.

    We have introduced these new fees for simpler and easier pricing.  Our existing fees do not differentiate between transaction types, our new fees rewards customers for using self service options.

    Please see here for tips on how to reduce these fees.

    Many thanks

    Seán


  • Registered Users, Registered Users 2 Posts: 2,557 ✭✭✭madalig12


    Lies. You have introduced these fees to make more money. FACT.


  • Registered Users, Registered Users 2 Posts: 732 ✭✭✭elmer


    As a customer for nearly 20 years I will make my opinion very clear. This is the final straw. My account will be closing shortly. What a joke to have a PR spin to say that this is to help improve things.

    So how could this possibly improve things for a person who followed the banks latest criteria of having 3000 euro in the account? explain to me how they are better off now?

    The best link that can be provided on how to save fees is the one to the PTSB switching website.

    I can only presume that Bank Of Ireland no longer want retail customers and I will be obliging them in this endeavor.


  • Closed Accounts Posts: 1,066 ✭✭✭Bank of Ireland: Billy


    Hi elmer, 
     
    Thanks for taking the time to post. 
     
    The €5 quarterly maintenance fee will apply to all personal current account holders 
     
    The new fee structure offers banking via self-service options at 20c as opposed to the current 28c per transaction. 
     
    Also, contactless payments will remain free until free until Aug 18th 2014
     
    Our new pricing structure helps us to simplify your banking experience whilst allowing us to continue introducing enhancements such as contactless payments, launch new online services, refurbish branches and maintain over 1,200 ATMs across the country.
     
    Thanks
     

    Billy


  • Registered Users, Registered Users 2 Posts: 19,050 ✭✭✭✭murphaph


    The new fee structure will not reduce fees for ANY existing customer unless the happened to be on the wrong system in the first place. The bank will make more money from the new structure assuming customers don't leave because of it. Anyone with an ounce of sense can see this and will move to the PTSB.


  • Registered Users, Registered Users 2 Posts: 4,852 ✭✭✭ncmc


    Zaph wrote: »
    Out of curiosity, how many customers do Bank of Ireland expect to lose from this change in fee structure?  I've no doubt it was built into the calculations before the new fees were decided upon.  I've been a customer for 30 years and all I've seen over the last few in particular is a continuous erosion of services to the point where it seems that personal customers are merely an annoyance to the bank now.  I'll certainly be looking into what other options are available to me.
    Couldn't agree more Zaph, BOI's customer service has gone to the dogs in the last couple of years. The new lodgement machines are a total joke, I had to lodge about €1000 in notes a couple of weeks ago and it woudn't take more than 2/3 notes at a time, so the whole transaction took ages. When you do have to queue for something, it's not unheard of for there to be 10/12 customers and only one window open. Then when you do get to the window, as often as not the staff member is overworked and rude and nearly makes you feel like dirt for actually having the nerve to want to deal with a human being!

    These fees will be the final straw for a lot of people, I have three accounts with BOI and I think the time has come to move bank. Vote with your feet people, they will keep increasing feet and eroding service until people say enough is enough. Sadly the Irish are very slow to move banks, so I fear the fees will just keep rising and rising.


  • Registered Users, Subscribers, Registered Users 2 Posts: 47,351 ✭✭✭✭Zaph


    I asked a very straightforward and direct question earlier, but so far the reps have chosen to ignore it. So I'll ask again, how many lost customers have BoI factored into their calculations as a result of these changes?


  • Registered Users, Registered Users 2 Posts: 1,094 ✭✭✭rn


    Moved last January... Little bit of pain at the start, but it was well worth it. Saved myself an estimated €40-50 per year. I went to Ulsterbank who are introducing fees on 1 July (I think), unless you are lodging 3000 pcm, which is a lot. I think I'm going moving again before the year is out.


  • Registered Users, Registered Users 2 Posts: 1,665 ✭✭✭Tin Foil Hat


    This could be it for me as well. I've been a customer for thirty odd years since my dad opened an account for me when I was about four.
    So, I'll be taking my current account and my savings account somewhere else. I'll be taking the current account and long term savings account I share with my wife. I'll also be moving the accounts I opened, like my dad before me, for my two small kids. I suspect those are the ones that will sting the most.
    All that BOI will be left with is my tracker mortgage.

    Nice work lads.
    Toodles,
    Tin Foil.


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  • Moderators, Science, Health & Environment Moderators Posts: 4,644 Mod ✭✭✭✭Daisies


    I like the others before me will be moving banks. I currently have a current account, a credit card account, a save to borrow account and an easy access savings account will be moving all of these once I come home from Africa in one weeks time. It is ridiculous that the fees are on the up, surely banks should be trying to keep customers and not chasing them away


  • Registered Users, Registered Users 2 Posts: 1,050 ✭✭✭whatlliwear


    So I am leaving BOI after 20 odd years. I am disappointed in their awful customer service of late. I was annoyed with the fees but I had just come to terms with them and then the new ones just forced me to leave... If I leave in the middle of this fees quarter will I be charged 1/3 of the €11.40.. Also can I still leave my other current account that I use to transfer money into & my credit card with you?


  • Registered Users, Registered Users 2 Posts: 531 ✭✭✭macjohn


    So I am leaving BOI after 20 odd years. I am disappointed in their awful customer service of late. I was annoyed with the fees but I had just come to terms with them and then the new ones just forced me to leave... If I leave in the middle of this fees quarter will I be charged 1/3 of the €11.40.. Also can I still leave my other current account that I use to transfer money into & my credit card with you?
    You can transfer money into the credit card from any current account - it doesn't need to be with the same bank.


  • Registered Users, Registered Users 2 Posts: 3,964 ✭✭✭Kopparberg Strawberry and Lime


    Im on a student account.

    Will I be charged anything ?


  • Banned (with Prison Access) Posts: 731 ✭✭✭inmyday


    Our new pricing structure helps us to simplify your banking experience whilst allowing us to continue introducing enhancements such as contactless payments, launch new online services, refurbish branches and maintain over 1,200 ATMs across the country.
     

    Hi Billy,
    Please read this quote over again, and again. You use the word "enhancements". 

    You mention 4 "enhancements".

    1. Contactless payments - Is this an enhancement? I myself (and Im sure many other customers) liked talking to a bank cashier, they were helpful to me to do what I had to do. The only contactless banking I want to do is online, not in a branch.

    2. Launch new online services - This one, Ill give you, you may be lauching new services in future, which do cost money. And Im sure you are enhancing the existing services.

    3. Refurbish branches - In the local BOI, all Ive noticed is the new machines for contactless banking. And less cashiers... But I have saw branches that are brand new, very fancy indeed. Why are Bank of Ireland enhancing branches by refurbishing them with the money they got from the people of Ireland???

    4. Maintain over 1200 atms. Maintaining ATMs, is not enhancing anything, its keeping the same. I know they cost money to maintain, but why use the word "enhancements" and "maintain over 1200atms" in the same sentence?

    There is a lot of spoofing in the wording from bank of Ireland about these fees. And Im sure Billy you can see the spoofing yourself. But Im also sure you have been forced by higher level managers to keep spoofing to clowns like us, the customers.


  • Closed Accounts Posts: 2,346 ✭✭✭Bank of Ireland: Tara


    Hi All,

    Thanks for taking the time to post. We will continue to forward all feedback received regarding this change.
    Zaph wrote: »
    I asked a very straightforward and direct question earlier, but so far the reps have chosen to ignore it. So I'll ask again, how many lost customers have BoI factored into their calculations as a result of these changes?

    Hi Zaph,

    The Reps here would not have access to that level of information. If this is a media query or you would like a statement from Bank of Ireland in relation to this, please see the Media Queries section of our charter.
    So I am leaving BOI after 20 odd years. I am disappointed in their awful customer service of late. I was annoyed with the fees but I had just come to terms with them and then the new ones just forced me to leave... If I leave in the middle of this fees quarter will I be charged 1/3 of the €11.40.. Also can I still leave my other current account that I use to transfer money into & my credit card with you?

    Hi whatlliwear,

    We're sorry to hear you are closing your accounts with us and that you are unhappy with the level of customer service you have received. 

    If closing a current account mid-quarter, when on the Flat Fee option, the full €11.40 would be deducted prior to the account being closed. There would be no issue at all with leaving any other accounts, current or credit card, opened with us. 

    If we can ever help with anything in the future, please feel free to ask.

    Im on a student account.

    Will I be charged anything ?

    Hi Kopparberg Strawberry and Lime,

    Student accounts are not affected by these fee changes. You can find more information on what we offer with our Student Accounts here.

    Thanks again everyone for getting involved with the discussion and providing us with your valued input.
    Tara


  • Registered Users, Registered Users 2 Posts: 3,964 ✭✭✭Kopparberg Strawberry and Lime


    Woo hoo free banking !


  • Registered Users, Registered Users 2 Posts: 5,394 ✭✭✭SCOOP 64


    If you have over €3000 every quarter,will you be charged?


  • Closed Accounts Posts: 719 ✭✭✭Bank of Ireland: Linda


    Good morning Scoop, 
    If you qualify for the No Transaction Fee Offer by keeping a credit balance in your current account of €3000 for the full quarter, you will be exempt from paying transaction charges. You will be charged the maintenance fee of €5 per quarter.

    I hope this answers your question.

    Thanks
    Linda


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  • Registered Users, Registered Users 2 Posts: 89,019 ✭✭✭✭JP Liz V1


    FFS more fees and charges now, looks like I too will be leaving BOI


  • Registered Users, Registered Users 2 Posts: 61 ✭✭Netty2


    Its a disgrace . Will be closing my account after being a customer for 25 years . They are a sneaky shower.


  • Registered Users, Registered Users 2 Posts: 1,265 ✭✭✭..Brian..


    This is a shame. I've been a customer for approx 15 years and I had finally got a handle on my bank charges with the flat payment thing and now its gone and my charges will go back up. As soon as I can dig myself out of my overdraft I will be moving my two accounts to PTSB. Poor move BOI.


  • Registered Users, Registered Users 2 Posts: 304 ✭✭paulheu


    We are sorry to hear you are unhappy with the new fee structure and you are now considering closing your account.  We value all our customers and we are sorry to hear that.

     Alternatively you can contact your branch and a customer adviser will be happy to discuss how you can reduce your fees.

    Switching banks is a pretty solid and effective way of reducing fees. When I called in on this I was told that 160 transactions over three months is above average.. You serious??

    At least TSB is offering a much better deal here with a real flat fee and much better options to actually control your fees.


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