Best Bank for farmers?

Toby12345

I am banking with ACC and they have just notified us that they are shutting down their internet banking service. This is the last straw for me so I am trying to find out which of the other main banks are best to switch my current account to. What do the farmers out there think?

delaval

AIB here, have plenty of reasons to leave but never had because they are all the same

I was told once that 'a bank is like a pet tiger, it will kill and eat you eventually'

Milked out

Not sure about the best bank but call in to all the local banks and meet the bank managers/ business managers and see how you get on with them, and possibly ask friends in your area how they get on with their banks. They're all hard enough to get money off these days as all decisions will be decided by credit in Dublin, but the person(s) you deal with in your area can have a bearing on how your proposals will look to Dublin when looking for a loan.

Timmaay

The Internet banking by boi isn't great, and then bloody machines replacing all the staff 2bh is annoying. I know ulsterbank were giving farmers 250 for doing a profit monitor, and putting your main income (milk cheques etc) through the account, their Internet banking suppose to be good and quick also.

hugo29

Timmaay wrote: »

The Internet banking by boi isn't great, and then bloody machines replacing all the staff 2bh is annoying. I know ulsterbank were giving farmers 250 for doing a profit monitor, and putting your main income (milk cheques etc) through the account, their Internet banking suppose to be good and quick also.

ulster bank internet banking facility is good,
as for everything else, well as dev says they are a bank

lakill Farm

dealing with most of them ongoing and they are all the same.

ACC are not taking on new farming clients :eek:

Dansk are moving out all together

KatyMac

I'm with Ulster Bank. They haven't annoyed me too much so are probably as good as any.

cavandown

Am with danske bank. Heard they moving out and have sent letters to inform some clients of.this. Any idea when? All banks same. People that swear by onee bank often swear about another. Depends on the people, sorry machines, you dealing with

lakill Farm

cavandown wrote: »

Am with danske bank. Heard they moving out and have sent letters to inform some clients of.this. Any idea when? All banks same. People that swear by onee bank often swear about another. Depends on the people, sorry machines, you dealing with

Im working on a plan. they are putting together nice enough packages to move facilities and covering all costs

ABlur

Anyone dealing with a credit union and how do you find them? Our local one is canvassing for members.

whelan1

ABlur wrote: »

Anyone dealing with a credit union and how do you find them? Our local one is canvassing for members.

Read on a mumsy forum today where a couple wanted to negotiate their loan repayments they where told no as there was money in their kids accounts, this was in the south east. Our local cu charge 10% interest on loans

grazeaway

they all pretty much of a muchness really. with AIB and really should move from them as they have really pissed me off over the last 2 years. BOI have been makign soem noises and i have my morgage with them. have offred me a 2 year fee free busianess account for teh farm to switch. still muling it over. still wary of uslter back. dotn want to get caught with no money, their IT infrastsrucure is very poor and still not up to standard. the rest are pretty much teh same.

have a CU account for small loans

Toby12345

hugo29 wrote: »

ulster bank internet banking facility is good,
as for everything else, well as dev says they are a bank

Yes I was leaning towards Ulster Bank. Farmers I speak to all have different opinions of each bank. One fella left ACC a few years ago and went to AIB. Now he says they are no better and is looking to change again. He is a fairly big operater. Internet banking is the way its going these days so its important to me.

hugo29

Toby12345 wrote: »

Yes I was leaning towards Ulster Bank. Farmers I speak to all have different opinions of each bank. One fella left ACC a few years ago and went to AIB. Now he says they are no better and is looking to change again. He is a fairly big operater. Internet banking is the way its going these days so its important to me.

i like their internet banking i use all the time and can transfer from all accounts instantly,
among other things their charges are high, i have thought about leaving but have not got around to it, permanent tsb were mentioned somewhere previously as an option

sheebadog

Always use 2 banks. I got that advice many moons ago and has served me well enough

whitebriar

I've a couple of farmers who talk openly confidentially with me,who are dealing with a mix of banks,and do ya know what,bank of Ireland is the can do bank of all of them at the moment
Aib-desperate altogether,very very slow regardless of how good the case made.
Ulster-worse I hear.

You absolutely totally need to have a rock solid case for yourself.
If you are moving because you have a heap of referral fees and worse.Forget it and try and get your house in order first within your own resources.

reilig

With TSB for personal banking because there are no charges. Find them good so far. Good internet banking, and good customer service in the branch.

With BOI for business banking + also use the Credit Union. Find BOI good for a number of reasons.

1. Their Ag person is an actual farmer and not afraid to advise you based on his own experience and his advice isn't always in the best favour of the bank.

2. They are approachable for a loan - even in these times.

3. The other staff in the local branch are local. They are not afraid to pick up the phone to you if there is a problem and are willing to help you to sort it out before it affects anything else. eg. Wrote a cheque and didn't have enough money in account to back it. Got a call from bank worker to say that they would hold it for a few hours to allow me to lodge/transfer money to back it - saved embarrisment with other party.

Also save with Credit Union. Not around during the day so can only access money on a wednesday night. That's a good thing for me - helps me to save and to budget!

whelan1

i am with ulster bank, have moved branch a few times to go to an ag advisor who knows what they are talking about,have business internet banking, main downfall is every couple of weekends it goes off air:mad: staff in bank are grand and i availed of the 250 euro profit monitor money too

hugo29

whelan1 wrote: »

i am with ulster bank, have moved branch a few times to go to an ag advisor who knows what they are talking about,have business internet banking, main downfall is every couple of weekends it goes off air:mad: staff in bank are grand and i availed of the 250 euro profit monitor money too

hi whelan1, do you have the business log in, i used too and found it a pain, so i got them to include the business accounts on the personal banking log in and its much better, can transfer between accounts now on line as well

whats the profit monitor

whelan1

hugo29 wrote: »

hi whelan1, do you have the business log in, i used too and found it a pain, so i got them to include the business accounts on the personal banking log in and its much better, can transfer between accounts now on line as well

whats the profit monitor

i can transfer money etc, profit monitor is a lot of hard work:D

hugo29

whelan1 wrote: »

i can transfer money etc, profit monitor is a lot of hard work:D

sorry, got cut off in mid sentence, do you just submit a completed profit monitor for a 250 yoyo payback, is there any catch

whelan1

hugo29 wrote: »

sorry, got cut off in mid sentence, do you just submit a completed profit monitor for a 250 yoyo payback, is there any catch

i emailed a copy of my profit monitor to my account manager and got the 250 euro a few weeks later into my account, its well gone now

hugo29

whelan1 wrote: »

i emailed a copy of my profit monitor to my account manager and got the 250 euro a few weeks later into my account, its well gone now

hey, must give that one a go,

Robson99

With Ulster for farm account. Find them al-right. Like previously said good internet banking service which is handy

With Permanent TSB for personal banking for over 15 years and I am threatening every month to leave. Only for the hassle of changing the direct debits etc I would be gone long ago. A bunch of......

signinlate

A turf bank is the only good bank

Henwin

Im with EBS and find them gud, saying tat it takes 10 working days for a cheque to enter the account. but their internet banking and customer service are excellent

bogman_bass

have a loan with the credit union and got it very easily. Credit unions have a lot of money that they are desperate to get out there and making a return for them so they are definatly worth a shot.

Do the rest of my banking with Bank of Ireland. I already have a personal account with them. considered getting business account with Ulster bank across the road but between the fear of RBS pulling the plug and chat on here about difficulty in getting credit I said I'd stick with BOI for convenience

Timmaay

whelan1 wrote: »

i can transfer money etc, profit monitor is a lot of hard work:D

If you're with ifac and teagasc it isn't, ifac can generate you a profit monitor report from your accounts, teagasc just have to lob these figures into their template and it splits out all your c/l costs, or whatever.

Robson99

If the Credit Union issued chq books and had internet banking I would move all to them. Never had a minutes hassle with them getting loans for anything

loveta

Left danske bank just over two years they were just impossible to deal with and knew they were going to get worse because they wanted out of ireland but it is not cheap if you got loans to move as well talking a few grand, with ulster now there ok if all is in order there biz internet is not great IMO thats the one "and only" thing i miss about danske bank and it was free two

Toby12345

sheebadog wrote: »

Always use 2 banks. I got that advice many moons ago and has served me well enough

Thats interesting. No one says that much. I do not want to move my loan account as i got a good interest rate, just the current account.

I do not have any problems money wise, charges etc.

Toby12345

whitebriar wrote: »

I've a couple of farmers who talk openly confidentially with me,who are dealing with a mix of banks,and do ya know what,bank of Ireland is the can do bank of all of them at the moment
Aib-desperate altogether,very very slow regardless of how good the case made.
Ulster-worse I hear.

I see, BOI sounds good then.

I am not looking for any loans right now. The main thing is that I move to a bank that is good to do business with day to day.

Toby12345

Robson99 wrote: »

With Ulster for farm account. Find them al-right. Like previously said good internet banking service which is handy

Yes, I might see what the guys in the local branch are like. The people on the ground make a bit of difference too. I cant imagine they will have a IT meltdown that big again.

tabby aspreme

Was with TSB and AIB , now only AIB, after three botched attempts to set up internet banking I gave up on TSB

promises

I would avoid bank of Ireland, they are cutting down on so many services in branch, basically they only want business to be done online, however their online services is very poor. Their staff in my local branch are quite rude at times with no apologies given about withdrawing services to me. I also have personnel accounts with ulsterbank and have had no issues and their online banking is good.

bogman_bass

that goes for all the banks though. The less they have you dealing with real people the better in their eyes

TEAT SQUEEZER

local aib branch has an auto system for lodging cheques which incurs less fees than lodging it through the person sitting behind the counter 3 feet to the left....zero interest in a human touch approach..

J DEERE

Lost all faith in the banking system since the power to lend was taken from the branch. Before you could go in and have a chat, explain your plans and go through any potential weaknesses they may see or reservations they may have. You would have an answer that week. Now the decision is made by a computer and sanctioned in Dublin.

TEAT SQUEEZER

J DEERE wrote: »

Lost all faith in the banking system since the power to lend was taken from the branch. Before you could go in and have a chat, explain your plans and go through any potential weaknesses they may see or reservations they may have. You would have an answer that week. Now the decision is made by a computer and sanctioned in Dublin.

looked for a reasonable sum for straigfht forward financing lately...

local lad said yeah fine no bother .. he came bac to me on 3 occasions with different ways that head office had come up with to basically no give me the full amount.. would have told him to stuff it only for time constraints.

heard that financing the tax bill is quiet common .. never heard it before... does it make financial sense or is it purely down to cashflow... is it tax deductable?

Sam Kade

tabby aspreme wrote: »

Was with TSB and AIB , now only AIB, after three botched attempts to set up internet banking I gave up on TSB

TSB Internet banking is a pain. They won't send out statements unless you have it set up, I spent a half day one time getting it set up after forgetting the password when I had it setup it still said I was locked out :mad:

Are AIB after giving up trying to flog life insurance to customers? It's a total scam as they get huge commission for the first two years and a % after that. Many people believe that their bank are looking out for them selling insurance investments etc.

keep going

Sam Kade wrote: »

TSB Internet banking is a pain. They won't send out statements unless you have it set up, I spent a half day one time getting it set up after forgetting the password when I had it setup it still said I was locked out :mad:

Are AIB after giving up trying to flog life insurance to customers? It's a total scam as they get huge commission for the first two years and a % after that. Many people believe that their bank are looking out for them selling insurance investments etc.

With open 24 with tsb with years and no problems and its free

whitebriar

Best internet banking and mobile app I have seen is Ulster.
However... It's like having an all singing,all dancing tv set to watch a bad movie.

You need a bank that you have confidence in,one that will deliver the goods for you if you have a case.
That story a few posts upthread is a typical reason for leaving a bank.
The bank official who discussed the loan should be familiar enough with current loan committee policy in there to have only put up something that they'd approve.
Waiting weeks etc simply isn't acceptable.
An application goes up Wednesday and is approved by Friday at the latest.
Spend the 2 weeks by all means preparing the best case you can.
But that's the way it should be and do ya know it is happening with one bank in this country,it should be happening with them all.

reilig

Sam Kade wrote: »

TSB Internet banking is a pain. They won't send out statements unless you have it set up, I spent a half day one time getting it set up after forgetting the password when I had it setup it still said I was locked out :mad:

Are AIB after giving up trying to flog life insurance to customers? It's a total scam as they get huge commission for the first two years and a % after that. Many people believe that their bank are looking out for them selling insurance investments etc.

Wow, that's the exact reason why i went with TSB. No more paper trail, no more reams of statements. If I want a particular period's statement, just go online and print it off. They have an easy and fast online transfer facility and you can pay bills easily online with them too. Was getting BOI charges of over €100 per quarter before I changed. Now it's free.

loveta

reilig wrote: »

Wow, that's the exact reason why i went with TSB. No more paper trail, no more reams of statements. If I want a particular period's statement, just go online and print it off. They have an easy and fast online transfer facility and you can pay bills easily online with them too. Was getting BOI charges of over €100 per quarter before I changed. Now it's free.

Just a quick question for you regarding TSB internet banking,
How far back can you go to look at statments? i am with ulster and they will only let me go back up to 15 months why is this the reason i wonder...

severeoversteer

is ulster bank not constantly having technical problems

banks are fine, when you don't owe them money

fall head over heels for you when you have a lump sum,

bank of Ireland here,

bank of Ireland is kinda known as a business bank

whelan1

severeoversteer wrote: »

is ulster bank not constantly having technical problems
k

About once every 3 weeks on a Saturday there is a problem with the ulsterbank internet banking. Thats it apart from the mess up last year

whitebriar

reilig wrote: »

Wow, that's the exact reason why i went with TSB. No more paper trail, no more reams of statements. If I want a particular period's statement, just go online and print it off. They have an easy and fast online transfer facility and you can pay bills easily online with them too. Was getting BOI charges of over €100 per quarter before I changed. Now it's free.

Most banks have statements now via email,including Boi and Aib.Free.
print freely at will from your emails,just don't delete.

charges for copy statements should never arise.

Timmaay

Slightly off topic, but good few of yas use the CU for loans? Might be just me, bull anytime I look at their rates, they are utter rubbish, always over 10%, alongside usually needed to leave 1/3 the value of the loan in savings. Alongside that issue, they don't look too steady from a savings point of view now, with the Newbridge branch collapse, I've afew quid sitting in my local CU, gaining no interest, I think I'll withdrawn it soon, even if it only sits under the mattress for the minute.

J DEERE

How are banks treating young farmers these days just starting off does anyone know?

nashmach

Timmaay wrote: »

Slightly off topic, but good few of yas use the CU for loans? Might be just me, bull anytime I look at their rates, they are utter rubbish, always over 10%, alongside usually needed to leave 1/3 the value of the loan in savings. Alongside that issue, they don't look too steady from a savings point of view now, with the Newbridge branch collapse, I've afew quid sitting in my local CU, gaining no interest, I think I'll withdrawn it soon, even if it only sits under the mattress for the minute.

I have argued this point all along as well Tim and when you read their accounts, at times it is shocking the amount of money they have up for bad debts!

whelan1

Timmaay wrote: »

Slightly off topic, but good few of yas use the CU for loans? Might be just me, bull anytime I look at their rates, they are utter rubbish, always over 10%, alongside usually needed to leave 1/3 the value of the loan in savings. Alongside that issue, they don't look too steady from a savings point of view now, with the Newbridge branch collapse, I've afew quid sitting in my local CU, gaining no interest, I think I'll withdrawn it soon, even if it only sits under the mattress for the minute.

credit union are very handy when you need money asap. In our cu you need 20% of the amount you are borrowing in shares in your account. I know the interest rate is very high but there's a lot to be said for having the money the next day. No profit monitors needed