Irish bank charges? Wtf?

5p9arw38djv2b4

Just moved back after living abroad for several years... I knew charges were coming in, but what? Called into boi today where I had my old account, 20c for every transaction yet it takes 3 days to lodge money when you transfer it, and I couldn't transfer money into someone's account without paying 25 euro as I have not got online banking yet, and the only other option is to remove the cash and walk to aib to transfer it to him and it would still take 3 days!

I'm gobsmacked. The UK has free accounts in every bank, and transfers take 2 hours, how the heck is this happening?



Anyways rant over... Suggestions for how best to avoid charges? Do people just carry loads of cash around! Cause maintaining 3k in my account at all times like bOI suggested isn't really practical! Happy to change banks if anyone has suggestions.

Cool_CM

LadyLabyrinth wrote: »

Just moved back after living abroad for several years... I knew charges were coming in, but what? Called into boi today where I had my old account, 20c for every transaction yet it takes 3 days to lodge money when you transfer it, and I couldn't transfer money into someone's account without paying 25 euro as I have not got online banking yet, and the only other option is to remove the cash and walk to aib to transfer it to him and it would still take 3 days!

I'm gobsmacked. The UK has free accounts in every bank, and transfers take 2 hours, how the heck is this happening?



Anyways rant over... Suggestions for how best to avoid charges? Do people just carry loads of cash around! Cause maintaining 3k in my account at all times like bOI suggested isn't really practical! Happy to change banks if anyone has suggestions.

The money transfer thing is a complete joke. When I lived in Switzerland I had a Postfinance account and though logging into the account online seemed a bit complicated at the time (8 digit user number and 6 digit password followed by card reader challenge and entering 6 digit card pin code) once you did log in, you had full control over your account to add different accounts to transfer to and pay bills etc. I was able to transfer money from Switzerland to Ireland where it would be credited to my account the same day if done before midday for 12chf or pay nothing and it would be there in 3 days. Swiss Bank charges amounted to something like €10 a month for having a balance of less that 7000(or something along those lines which I never had) which given the level of service I had no issue with. Any charges on the actual amount being sent back always occurred on the Irish side.

Incredible that it can take up to 5 days in some cases to to transfer between Irish banks when it can happen in a manner of hours the other way around from a non EU and non Euro currency country.

jpfahy

Someone is making money with your money during the 'transfer window'

Stheno

I worked in the US and Canada recently and got charged 5 euro every time I took out cash.

I have noticed since SEPA came in that transfers are quicker though

Mrs W

It's bloody ridiculous, in the Dundalk branch of AIB they're now down to 2 counters so the queue is down to the door all day every day. Use the machine to lodge anything and they charge you 35c!

Delta2113

Move to PTSB if you can lodge €1,500 a month - check out dedicated thread.

Stheno

Unless you go outside the Eurozone regularly and even if you do Ptsb, Kbc and Ulster are the cheapest offerings in the market.

Just switch