Account Maintenance fee.

TheVandal

I asked this question on your Facebook page a while back but was brushed off with "we only deal with everyday banking queries." Well, this actually is and everyday banking query.

What is the Maintenance fee of €5.00 for? What am I paying you to maintain? I know it's only a fiver, but it's a fiver on top of the mounting bull**** charges you seem to be adding all the time.

So I'd like to know where that fiver goes, what it does- a break down basically. And seeing as I'm the one paying, I have the right to know.

Bank of Ireland: Alison

[font=Verdana, sans-serif]Hi TheVandal[/font]
[font=Verdana, sans-serif] [/font]
[font=Verdana, sans-serif]Thank you for contacting us here on Boards.[/font]
[font=Verdana, sans-serif] [/font]
[font=Verdana, sans-serif]We have answered a similar post here last year when the new fee structure was introduced. [/font]
[font=Verdana, sans-serif] [/font]
[font=Verdana, sans-serif]Just to mention, our remit here on Boards is similar to Facebook and our other social media channels. We assist with day to day banking queries and we are unable to discuss the reason or detailed specifics behind any policy or fee changes. Although, all feedback and suggestions on these types of changes are appreciated and passed onto the relevant departments.[/font]
[font=Verdana, sans-serif] [/font]
[font=Verdana, sans-serif]We have received 2 posts on Facebook within the last 4 months in relation to the maintenance fee, upon checking these posts, we are unable to locate the representative advising only day to day banking queries are dealt with.[/font]
[font=Verdana, sans-serif] [/font]
[font=Verdana, sans-serif]When asked any type of query on our social media channels, please be assured we will try and answer all questions asked. If the query asked is out of our remit, it may be necessary to ask a customer to contact their branch or the relevant department to assist further with their query.[/font]
[font=Verdana, sans-serif] [/font]
[font=Verdana, sans-serif]We do hope you can see the benefits we do offer to all our customers and work continuously to improve these and again always welcome all feedback and suggestions from our customers.[/font]
[font=Verdana, sans-serif] [/font]
[font=Verdana, sans-serif]Thanks[/font]

[font=Verdana, sans-serif]Alison[/font]

TheVandal

Bank of Ireland: Alison wrote: »

[font=Verdana, sans-serif]Hi TheVandal[/font]
[font=Verdana, sans-serif] [/font]
[font=Verdana, sans-serif]Thank you for contacting us here on Boards.[/font]
[font=Verdana, sans-serif] [/font]
[font=Verdana, sans-serif]We have answered a similar post here last year when the new fee structure was introduced. [/font]
[font=Verdana, sans-serif] [/font]
[font=Verdana, sans-serif]Just to mention, our remit here on Boards is similar to Facebook and our other social media channels. We assist with day to day banking queries and we are unable to discuss the reason or detailed specifics behind any policy or fee changes. Although, all feedback and suggestions on these types of changes are appreciated and passed onto the relevant departments.[/font]
[font=Verdana, sans-serif] [/font]
[font=Verdana, sans-serif]We have received 2 posts on Facebook within the last 4 months in relation to the maintenance fee, upon checking these posts, we are unable to locate the representative advising only day to day banking queries are dealt with.[/font]
[font=Verdana, sans-serif] [/font]
[font=Verdana, sans-serif]When asked any type of query on our social media channels, please be assured we will try and answer all questions asked. If the query asked is out of our remit, it may be necessary to ask a customer to contact their branch or the relevant department to assist further with their query.[/font]
[font=Verdana, sans-serif] [/font]
[font=Verdana, sans-serif]We do hope you can see the benefits we do offer to all our customers and work continuously to improve these and again always welcome all feedback and suggestions from our customers.[/font]
[font=Verdana, sans-serif] [/font]
[font=Verdana, sans-serif]Thanks[/font]

[font=Verdana, sans-serif]Alison[/font]

For a start, the similar post doesn't really go any way to explaining why I have to pay maintenance to access my money (which I might add, because I bank with you, you make money off). And this falls within the remit of Day to Day banking. Again, the €5.00 is a transaction whereby you take money. I would like to know what exactly I am paying for. If you can't explain that, then there is no reason I should pay it. 

"In recent years we have invested substantially in the infrastructure associated with current accounts (branch, phone, online and mobile channels)."


That's your infrastructure, not mine. Why do I have to pay for the upkeep of your property? Unless this €5.00 is buying me shares? 


As for the Facebook post- I contacted you when I received the letter. Last year some time. Look for 'Danger Mousé'- that's me. (Don't judge).


So again, this is well within your remit to answer- so answer. I'd like a break down, if you can't provide that I can't pay it and I'll be moving on.

vicwatson

Op just move to PTSB if you are lodging €1500 per month its free banking. Simples

TheVandal

vicwatson wrote: »

Op just move to PTSB if you are lodging €1500 per month its free banking. Simples

I wish I was lodging €1500 haha. If Apple decide they like my application maybe that might be an option. In general though, what are PTSB like? 

TheVandal

Let me go over your points:

• Access to over 250 branches and 1,500 ATMs nationwide (I use maybe 1 or 2 a month and I pay a Card fee. What does that cover if not the ATM fee?)
  
• Over 2,000 qualified financial advisers across the country (I bank in Waterford and in over 10 years of being with you, spoke to 1)
  
• 365 Online and Mobile Banking app, for iPhone and Android users, giving you access to your account both at home and on the go (The app was advertised as free, no mention in the Terms that I would have to pay quarterly to maintain it)
  
• Pay to Mobile service - allows our mobile banking app customer transfer money to any registered Bank of Ireland account simply by knowing the mobile number of the account holder (I have never and would never use this. Why don't I have the option to opt out?)
  
• eStatements - a choice of receiving statements by pdf via 365 Online instead of paper (You're saving money by not having to print on paper, use envelopes, the electricity it takes to print or pay for postage)
  
• Our recently revamped website with a new Help Centre where you can find answers to our customers most frequently asked questions (Revamped website? It's still terrible. And I don't use FAQ's)
  
• Numerous customer service channels, phone email and social media presence (The fact that I deposit my money, makes you money to cover your phone bill. And as far as I'm aware, Social Media is free.)
  

[*]


Whenever you're ready.

galwayjohn89

Banks have huge costs. You seem not to understand basic costs. You state social media is free? I presume all the staff answering questions here are volunteers then? eStatements are free? I'm sure the software (which would be quite complex) was donated for free. ATMS cost money to run and maintain. The card fee would go to cover the cost of the transaction (and a bit more) but not the cost in having the ATM network there waiting for you at all times. 


Just because you don't use financial advisors doesn't mean they don need to be paid. 


They are a business and are entitled to charge fees. You are entitled to chose to pay the fees or close your account. 

TheVandal

Vuzuggu wrote: »

Banks have huge costs. You seem not to understand basic costs. You state social media is free? I presume all the staff answering questions here are volunteers then? eStatements are free? I'm sure the software (which would be quite complex) was donated for free. ATMS cost money to run and maintain. The card fee would go to cover the cost of the transaction (and a bit more) but not the cost in having the ATM network there waiting for you at all times. 


Just because you don't use financial advisors doesn't mean they don need to be paid. 


They are a business and are entitled to charge fees. You are entitled to chose to pay the fees or close your account. 

Unless you work for the Bank and can provide me with a definitive answer, you have no horse in this race. A lot of what you just said falls under the category of 'no **** sherlock'.

My gripe is that there is no transparency. I'm told that I have to pay this fee but am provided with quite literally zero answers as to what exactly I am maintaining. And then when I do ask, I'm given the usual blanket answer.

So please, BOI, carry on.