Danske bank to close retail customer accounts

handlemaster · 31-10-2013 8:52am #1

Danske have announced they will be closing their retail banking / personal accounts and concentrating on corporate instead. What will this mean for trackers ?

Toto Wolfcastle · 31-10-2013 9:02am

handlemaster wrote: »

Danske have announced they will be closing their retail banking / personal accounts and concentrating on corporate instead. What will this mean for trackers ?

According to their website mortgages will continue under existing terms and conditions.

Stheno · 31-10-2013 9:03am

So anyone with an NIB Current account will have to change banks?

rolexeagle1 · 31-10-2013 9:05am

What about NIB current/credit card accounts?

thesteve · 31-10-2013 9:13am

Stheno wrote: »

So anyone with an NIB Current account will have to change banks?

Looks like it;
http://www.danskebank.ie/en-ie/Pages/danske-announcement.aspx

What a PITA

Galadriel · 31-10-2013 9:20am

thesteve wrote: »

Looks like it;
http://www.danskebank.ie/en-ie/Pages/danske-announcement.aspx

What a PITA

That is going to be a right pain

plus it said early 2014, that is not giving us a lot of time to switch everything across.

chughes · 31-10-2013 9:33am

I'm a Danske customer and this is a right pain alright. Only yesterday I was in the Swords office to discuss my finances and this wasn't mentioned. I wonder did this come as a surprise to the staff currently working there.

Given the uncertainty over Ulster Bank, I guess that just leaves BoI and AIB to transfer to. I'm in a dilemma as to what to do.

Leslie91 · 31-10-2013 9:39am

chughes wrote: »

I'm a Danske customer and this is a right pain alright. Only yesterday I was in the Swords office to discuss my finances and this wasn't mentioned. I wonder did this come as a surprise to the staff currently working there.

Given the uncertainty over Ulster Bank, I guess that just leaves BoI and AIB to transfer to. I'm in a dilemma as to what to do.

I'm with you. Danske's online banking was unreal. Anybody know what the options are now in terms of moving one's personal banking?, who has the best online offering out there now?

Surely we'll see some or all of the other banks advertising their wares to Danske customers v soon?

Formosa · 31-10-2013 9:40am

This is a huge pain in the fanny...I left BOI to go to them, not going back there...not keen on Ulster either so will probably give AIB a go.

thesteve · 31-10-2013 9:44am

Formosa wrote: »

This is a huge pain in the fanny...I left BOI to go to them, not going back there...not keen on Ulster either so will probably give AIB a go.

I only got approved for a credit card with Danske yesterday!

I'm looking at KBC now, they look pretty good too.

Leslie91 · 31-10-2013 9:46am

thesteve wrote: »

I only got approved for a credit card with Danske yesterday!

I'm looking at KBC now, they look pretty good too.

KBC?, wow, did not know they did current accounts for personal customers. Is there a website comparing all the current account offerings does anybody know?

thesteve · 31-10-2013 9:47am

Leslie91 wrote: »

KBC?, wow, did not know they did current accounts for personal customers. Is there a website comparing all the current account offerings does anybody know?

http://www.bonkers.ie/compare-current-accounts/

Not sure how up to date it is though. KBC have the 'keep your account at 2k minimum for no ATM fees' thing, but their savings interest rates are pretty good.

Leslie91 · 31-10-2013 9:52am

thesteve wrote: »

http://www.bonkers.ie/compare-current-accounts/

Not sure how up to date it is though. KBC have the 'keep your account at 2k minimum for no ATM fees' thing, but their savings interest rates are pretty good.

Thanks. Anyone know do KBC offer a credit card I see no mention of it on their site? They do have a debit card with Mastercard logo.

I'd be looking for a good value current account, with top notch online offering plus a credit card.

Oh and I don't want to be charged for using a feckin ATM.

BuffyBot · 31-10-2013 9:55am

KBC currently do not offer credit cards.

Sad to see the closure happen, but not unexpected overall.

homer911 · 31-10-2013 10:01am

As well as my Current Account, I have an investment account with Danske -hopefully they will offer some easy/cheap transfer options..

handlemaster · 31-10-2013 10:15am

Ptsb have good online facilities also

handlemaster · 31-10-2013 10:19am

Ptsb have good online facilities also

josip · 31-10-2013 10:37am

I closed my NIB (I refuse to call it Danske) current and credit cards last year when they brought in charges and consolidated to BoI.
We still have a joint account as well as my wife's account and our mortgage.
I will really miss the NIB online banking app. The BoI one just doesn't compare.

Leslie91 · 31-10-2013 10:42am

It's looking more and more like PTSB is the way to go for me. Seems like they have the best/easiest option in terms of getting free banking and at €12 a quarter it's decent value. And they do a credit card unlike KBC.

Just need to find out how good their online is... would be great to see it in action.

Harpy · 31-10-2013 10:44am

handlemaster wrote: »

Ptsb have good online facilities also

Do they have the visa debit or MasterCard debit cards? I know nib were meant to get them in this month but that's not gonna happen now.. Do PTSb have a banking app like nib do you know I loves the way I could just transfer money standing at a till if I didn't have the money in my account with nib and it'd go through instantly..

Leslie91 · 31-10-2013 10:48am

Harpy wrote: »

Do they have the visa debit or MasterCard debit cards? I know nib were meant to get them in this month but that's not gonna happen now.. Do PTSb have a banking app like nib do you know I loves the way I could just transfer money standing at a till if I didn't have the money in my account with nib and it'd go through instantly..

PTSB have Visa debit card.

Like you I'm interested to see how good their online is.

Stheno · 31-10-2013 11:15am

What a royal PITA, my OH will now have to move his account

TCG · 31-10-2013 11:19am

They will never offer east cheap transfers. Olny something that will make them money but they will try to tell it is the best thing for you. And some people will believe it.

aw · 31-10-2013 12:11pm

This is a shame but should not come as a surprise, given their slow and steady removal of services since 2010.

I am going to miss the ebanking and mobile app. I have used BOI & AIB and both pale in comparison. Is the new KBC online presence good? I realise it's still very new and the old savings ebanking wasn't the best.
Is the Ulster Bank app good?

Does anyone have experience of both Danske and Ulster's electronic services that could compare them?

Thoie · 31-10-2013 12:46pm

Interesting - when I set up my mortgage with them, they insisted that I set up a current account with them too, and that the mortgage could only be paid from there. Then, when they introduced charges, they changed that account into another type of account that didn't incur fees, but didn't allow any transactions other than mortgage withdrawals.

I wonder will that account be closed (and I can just feed my mortgage from another bank), or if that will remain in existence as a feeder account. I'd prefer if I could just feed the mortgage directly from another bank, it would cut out another hop that the money has to make.

freevoice · 31-10-2013 12:49pm

Danske seem to be offering a " Switching Pack" with other banks , I know AIB and BoI have switching pack offers. , ug gonna have to change all the direct debit details now , ugh.
I'm weirdly gonna switch to an Irish bank this time as awful as they are. As I think it's easier for foreign Banks to follow Danske example and up and leave.

handlemaster · 31-10-2013 2:32pm

It would be good if they offered some sort of tracker deal as they must be losing money on this in real terms.

josip · 31-10-2013 2:38pm

handlemaster wrote: »

It would be good if they offered some sort of tracker deal as they must be losing money on this in real terms.

Why do you think it would be good? Good for us or good for them?

handlemaster · 31-10-2013 2:50pm

josip wrote: »

Why do you think it would be good? Good for us or good for them?

I'd hardly be worried about the bank....

josip · 31-10-2013 3:06pm

handlemaster wrote: »

I'd hardly be worried about the bank....

So why would the bank offering an exit deal on tracker mortgages be good for their customers?
Surely the "deal" would be packaged to appear attractive to customers while in reality being more beneficial to the bank?

handlemaster · 31-10-2013 3:12pm

josip wrote: »

So why would the bank offering an exit deal on tracker mortgages be good for their customers?
Surely the "deal" would be packaged to appear attractive to customers while in reality being more beneficial to the bank?

Investors confidence

sitstill · 31-10-2013 3:30pm

chughes wrote: »

Given the uncertainty over Ulster Bank, I guess that just leaves BoI and AIB to transfer to. I'm in a dilemma as to what to do.

What is the uncertainty with Ulster Bank - are they leaving too? I just switched from BOI to them :-(

greenman09 · 31-10-2013 5:29pm

PTSB could do all the banking needs. Current account overdraft and credit cards. The free banking option is a winner also. They do the switch for you.

Nonoperational · 31-10-2013 6:01pm

TSB online banking is pretty good.

brady73 · 31-10-2013 6:24pm

Damn it, have been with Danske, NIB, Northern Irish all my banking life... Boo to them pulling out! PTSB I think, if only for no transaction fees.

gerrowadat · 31-10-2013 7:51pm

Antone know if there's anything comparable to their prestige package with any other bank? I like having someone to call and look after stuff, and 'free fees' isn't high on my list if I get what I pay for.

BuffyBot · 31-10-2013 7:55pm

There is also EBS. Transaction free for a min 500 a month balance or 1500 a month input.

Only 5 free ATM withdrawals per month. Cashback on the Debit Mastercard would cover most people's day to day needs anyway.

Delta2113 · 31-10-2013 8:00pm

BuffyBot wrote: »

There is also EBS. Transaction free for a min 500 a month balance or 1500 a month input.

Only 5 free ATM withdrawals per month. Cashback on the Debit Mastercard would cover most people's day to day needs anyway.

- It's between PTSB and EBS - I would avoid AIB,Ulster,BOI and KBC for a current account.

chughes · 31-10-2013 8:31pm

It's looking like PTSB are leading the race for my business based on the comments so far on this thread.

By the way, does anyone know what will happen as regards 30 euro stamp duty on credit cards? When I close my NIB one and possibly start a PTSB one, will I have to pay again?

Hotblack Desiato · 31-10-2013 8:31pm

This sucks. Between us we have 2 current accounts, 2 credit cards and 1 savings account with them. A right PITA.

PTSB could be the best option. Had a look at their online banking today and (like a lot of others) it's nothing like as secure as Danske's was. You have a customer number, a password (only 6-8 lowercase characters, no uppercase, no symbols :rolleyes:) and you enter 3 digits of a 6 digit PIN each time you log in. Problem is, it would only take a few logins on a dodgy PC to capture all 6 digits, and once they have that they can do anything in your name (no wonder there are so many PTSB phishing emails, they just ask for all 6 digits...)

Danske have a 'one time pad' and required a unique number from it on each login, far more secure. OTOH they do insist on using Java which brings about its own security issues - need to keep it constantly updated, and ideally only enable Java in one browser which is only used for banking and nothing else.

Also, I could find nothing on the PTSB site about what browsers/OSes they support. Yeah, it'll probably work on Linux but if they don't support it they won't want to know, if you have a problem (which could turn out to be at their end.)

JTMan · 31-10-2013 9:09pm

Your omitting that PTSB use SMS to send verification codes to your phone before you can add new payee details online. This is a good secure feature.

sentient_6 · 31-10-2013 9:15pm

Grrr this is frustrating to say the least. :mad: The handiest thing about my current bank set up with them is managing my account(s) for the most part completely through ebanking & the app. Permanent Tsb looks to be the only option, hope the give me a basic credit card with zero fuss.

BuffyBot · 31-10-2013 9:46pm

chughes wrote: »

It's looking like PTSB are leading the race for my business based on the comments so far on this thread.

By the way, does anyone know what will happen as regards 30 euro stamp duty on credit cards? When I close my NIB one and possibly start a PTSB one, will I have to pay again?

No. When the credit card account is closed, you will be provided with a letter for your new card provider to state you've paid the GSD.

Hotblack Desiato · 31-10-2013 10:35pm

Fungus wrote: »

Your omitting that PTSB use SMS to send verification codes to your phone before you can add new payee details online. This is a good secure feature.

OK. Didn't see any mention of that on the online banking part of their website. They really should have that at every login, at least as an option.

Elessar · 31-10-2013 11:09pm

Ugh. This is a real pain in the ass! I've been with NIB/Danske for probably 15 or so years.

Really love their online banking and app.

Ugh. F*cking hassle of switching!

BuffyBot · 01-11-2013 12:09am

And for those looking for a comparison tool, don't forget the NCA's

http://compare.consumerhelp.ie/CurrentAccount

christina40 · 01-11-2013 12:51am

Danske currently offer discount on mortgage rate if you have prestige current account Does this mean I will lose this when current account closes next year In d process of fixing mortgage with them and worried now

Renny Barrett · 01-11-2013 8:53am

This is going to cost me dearly, I fear - I have an offset mortgage with Danske, and if they close my accounts which are offset against my mortgage, then the benefits of the offset mortgage disappear :-(

Roger_007 · 01-11-2013 9:01am

Does anyone know what will happen to shares bought through a Danske custody account. Will they just have to be sold?

jjbrien · 01-11-2013 9:39am

ninja900 wrote: »

This sucks. Between us we have 2 current accounts, 2 credit cards and 1 savings account with them. A right PITA.

PTSB could be the best option. Had a look at their online banking today and (like a lot of others) it's nothing like as secure as Danske's was. You have a customer number, a password (only 6-8 lowercase characters, no uppercase, no symbols :rolleyes:) and you enter 3 digits of a 6 digit PIN each time you log in. Problem is, it would only take a few logins on a dodgy PC to capture all 6 digits, and once they have that they can do anything in your name (no wonder there are so many PTSB phishing emails, they just ask for all 6 digits...)

Danske have a 'one time pad' and required a unique number from it on each login, far more secure. OTOH they do insist on using Java which brings about its own security issues - need to keep it constantly updated, and ideally only enable Java in one browser which is only used for banking and nothing else.

Also, I could find nothing on the PTSB site about what browsers/OSes they support. Yeah, it'll probably work on Linux but if they don't support it they won't want to know, if you have a problem (which could turn out to be at their end.)

Ulster Bank have a more secure system of online banking than PTSB and NIB. I used to have an NIB current account and still have a savings account there. Ulster Bank uses a card reader for online banking making it probably the most secure of all the banks. The android app is handy too. Their online banking is probably the best of all the banks here. I doubt they will pull out of Ireland they have a much bigger banking operation here than NIB had. Plus they are used heavily by the government here.

Truman Burbank · 01-11-2013 10:23am

jjbrien wrote: »

Ulster Bank uses a card reader for online banking making it probably the most secure of all the banks.

Long term frequent on-line Ulster Bank customer. Never needed card reader. Got one? Yes. Required to use? No. No change in log-in details (customer #, 4 digit pin & 3/6 password ) ever.

Danske bank to close retail customer accounts

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