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Best Bank?

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  • 21-08-2013 9:25am
    #1
    newtodub
    Registered Users Posts: 28 ✭


    Appreciate this will have been asked a zillion times before, but I've looked at the threads and look to be a little dated.

    Currently with Ulster and not happy with the creeping of charges coming in, €4 per current account per month...

    What are my options, who else is there, who's a safe bet?

    I like to have multiple accounts (My current account then a few additional accounts to help manage funds).

    Who's not going to charge me to hold my money?


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    #2
    OU812
    Registered Users Posts: 6,046 ✭✭✭OU812


    To be honest, the €4 charge is nothing compared to the others.

    They've a great online banking option & you can set up additional accounts online.

    PTSB are free but will probably introduce fees when they go critical mass in new accounts. I wouldn't go with them though after a bad experience. If they were the only bank left, I'd keep cash under the mattress & go without things I need credit for.


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    #3
    newtodub
    Registered Users Posts: 28 ✭newtodub


    Yeah but the additional accounts with €4 is a joke, it's €50 a year... that's €200 with the accounts I have...

    What is the law with offshore accounting?


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    #4
    OU812
    Registered Users Posts: 6,046 ✭✭✭OU812


    It not chargeable if you've €1500 on deposit.

    Regarding offshore, no laws against it afaik (within reason), however accessibility is an issue & some countries won't allow you to open an account without being resident.

    I've just opened an ulster bank (NI) account and as far as I can see, there's no charges on it, obviously there'll be currency conversion charges, but no service fees. All done by phone & post.


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    #5
    newtodub
    Registered Users Posts: 28 ✭newtodub


    My company wouldn't pay into a non-euro account.

    I'll have to look into this, some one out there must be answering the worlds problems with an off-shore easy to use account..

    Research time!


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    #6
    murphaph
    Registered Users Posts: 19,018 ✭✭✭✭murphaph


    newtodub wrote: »
    My company wouldn't pay into a non-euro account.

    I'll have to look into this, some one out there must be answering the worlds problems with an off-shore easy to use account..

    Research time!
    Not yet but that's because SEPA hasn't been fully implemented yet, so a Direct Debit in Germany uses a different system to a Direct Debit in Ireland etc. From February 1st however the national payment systems will be defunct. All payments will be SEPA (even internal ones that cross no border). I personally expect to see much more cross border banking competition as a result of this and if it doesn't come the European Commission has more legislation (directives) on the way that will FORCE banks in the EU to open accounts for EU citizens, whether they are resident or not. That legislation will take several more years, but with SEPA coming it may not even be necessary. We can but hope. If you can read/write German I would advise you to try to open an account with DKB.de (my bank here in Germany) which has no charges.


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