Best bank to open current account?

Mrtm17

Me and the mrs are looking at open a joint account.which is the best bank to open with these days?

coylemj

EBS Moneymanager. It's a current account in all but name.

Positives: no fees, no minimum balance, no minimum monthly lodgement. Unlimited standing orders, direct debits, ATM withdrawals. Transfer money online to designated beneficiaries. You get a Visa debit card which doubles as an ATM card that works everywhere.

Negatives: no chequebook, no mobile app and ebs.ie website is not mobile friendly - even on a tablet you have to turn it to landscape to do anything.

JTMan

KBC Extra Current Account is another option. Free banking if you deposit at least 2,500 EUR per month. Android Pay and Apple Pay support. Good mobile app. 3.00% regular saver product for those that have a current account.

Nervous Wreck

coylemj wrote: »

no mobile app and ebs.ie website is not mobile friendly - even on a tablet you have to turn it to landscape to do anything.

This would be a complete deal breaker for me.

Avatar MIA

JTMan wrote: »

KBC Extra Current Account is another option. Free banking if you deposit at least 2,500 EUR per month. Android Pay and Apple Pay support. Good mobile app. 3.00% regular saver product for those that have a current account.

I recently tried to open a Joint KBC account and they almost broke me. I eventually stopped trying to set it up.

That was simply my experience and the OP might have better luck with the person(s) they deal with in KBC.

Delta2113

Nervous Wreck wrote: »

This would be a complete deal breaker for me.

This would not be a deal breaker - I could manage with a basic online service just fine especially as it's a FREE Account.

Okon

Avatar MIA wrote: »

I recently tried to open a Joint KBC account and they almost broke me. I eventually stopped trying to set it up.

Opening an account with KBC can be like having teeth pulled at times, but their Extra Current Account does give access to good rates on a Regular Saver and 12 Month Fixed Rate accounts, so I thought it was worth persevering with.

Avatar MIA

Okon wrote: »

, but their Extra Current Account does give access to good rates on a Regular Saver and 12 Month Fixed Rate accounts, so I thought it was worth persevering with.

That's why I attempted to open an account with them. But felt life was too short. :pac:

Nervous Wreck

Delta2113 wrote: »

This would not be a deal breaker - I could manage with a basic online service just fine especially as it's a FREE Account.

I'd rather pay a few quid for the convenience. Deal breaker.

AlmightyCushion

No online banking would be a complete dealbreaker for me as well. As for KBC, I found opening a current account with them very easy. Albeit I did do it in one of their hubs and I already had a savings account with them. If I remember correctly I had to ring them to get my current account to show up on my online backing app but it wasn't a big deal.

The J Stands for Jay

Looked into opening one of those EBS accounts. They wanted me to make an appointment to come in and see them. **** that.

Avatar MIA

McGaggs wrote: »

Looked into opening one of those EBS accounts. They wanted me to make an appointment to come in and see them. **** that.

Tsk, millennials

The J Stands for Jay

Avatar MIA wrote: »

Tsk, millennials

Hey, I'm a fully functional adult with kids, a spouse, a house and many fine bank accounts. Appointments? Ain't no one got time for that.

WayneEnterprise

AlmightyCushion wrote: »

No online banking would be a complete dealbreaker for me as well. As for KBC, I found opening a current account with them very easy. Albeit I did do it in one of their hubs and I already had a savings account with them. If I remember correctly I had to ring them to get my current account to show up on my online backing app but it wasn't a big deal.

I opened KBL extra current account online, whole process took 48 hours. Submitted all documentation via their app.

coylemj

McGaggs wrote: »

Looked into opening one of those EBS accounts. They wanted me to make an appointment to come in and see them. **** that.

If a F2F appointment wasn't necessary, the banks would be flooded with postal applications from scammers and drugs dealers to open accounts using doctored photos of passports and utility bills.

Anti money laundering legislation say that you have to present certain documents to prove your identity. One of the categories of identification which they require is something with your photo on it and they cannot accept that unless you are there in person so they can verify that the person opening the account is the person who's photo is on the driving licence or passport.

The J Stands for Jay

coylemj wrote: »

If a F2F appointment wasn't necessary, the banks would be flooded with postal applications from scammers and drugs dealers to open accounts using doctored photos of passports and utility bills.

Anti money laundering legislation say that you have to present certain documents to prove your identity. One of the categories of identification which they require is something with your photo on it and they cannot accept that unless you are there in person so they can verify that the person opening the account is the person who's photo is on the driving licence or passport.

I was more annoyed by the necessity to make an appointment. Anyway, the last two bank accounts I opened with Banks where I didn't have an existing relationship didn't require a visit. Possibly the one before that too.

Money laundering directives don't say you need to see people face to face.

coylemj

McGaggs wrote: »

I was more annoyed by the necessity to make an appointment.

EBS runs a fairly slimline operation in their branches. Most of their offices that are not franchises have minimal staff so you typically need an appointment to do anything other than get a draft or lodge & withdraw cash.

You want a bank which is staffed all day with people who can process applications for loans, mortgages and new accounts?

Fine, just don't expect them to provide free banking.

Delta2113

Remember EBS do provide online account access with the Money Manager account. It might be basic but it's FREE.

The J Stands for Jay

coylemj wrote: »

You want a bank which is staffed all day with people who can process applications for loans, mortgages and new accounts?

Fine, just don't expect them to provide free banking.

This is the exact opposite of what I want. Who wants to have to go into a branch to get a mortgage? I find financial institutions like EBS that have a branch network generally have worse customer service as they feel they can get you to call into a branch of they have a problem.

boobycharlton

Sorry for hijacking the thread somewhat, but my 18 year old sister has just started her first job and obviously needs a bank account for her wages to go into. Just wondering exactly what documents she needs to open an account? she has a passport but doesn't really have any bills etc with her name and address on them. Also, would the previously mentioned EBS moneymanager account still be the best account for her to go with?

I'm with PTSB and don't pay any fees at all thanks to one of their boom-time offers when I opened my account 15+ years ago and haven't gone near a bank since!

Cheers

gavmcg92

boobycharlton wrote: »

Sorry for hijacking the thread somewhat, but my 18 year old sister has just started her first job and obviously needs a bank account for her wages to go into. Just wondering exactly what documents she needs to open an account? she has a passport but doesn't really have any bills etc with her name and address on them. Also, would the previously mentioned EBS moneymanager account still be the best account for her to go with?

I'm with PTSB and don't pay any fees at all thanks to one of their boom-time offers when I opened my account 15+ years ago and haven't gone near a bank since!

Cheers

I'm not familiar with the EBS offering but I can vouch for the new account from PTSB. It is called the Explore account and offers 10c cash back for each transaction up to a limit of €5. The monthly fee for the account is €4 and so if the card is used 40 times in a month, you get free banking.

Be aware that fees are coming back in for a lot of PTSB accounts. €18 a quarter seems to be what they are going forward but that doesn't apply to the Explore account from what I have seen.

Documents needed for the switch are

1. ID verification, like your passport
2. Address verification such as a utility bill
3. Last 3 months statements from your old bank

They have a page that discusses the documents required.
https://www.permanenttsb.ie/help-and-support/help-with-banking/required-documents/current-accounts/

JTMan

boobycharlton wrote: »

Also, would the previously mentioned EBS moneymanager account still be the best account for her to go with?

Essentially there are 3 options that keep getting recommended:
- EBS MoneyManager account. Pros: Free. Cons: No Apple Pay, No Android Pay, No mobile app. Free but old fashioned banking.
- KBC Extra Regular Saver. Free if you deposit at least 2,500 EUR per month into the account. Apple Pay support, Android Pay support, good mobile app. Modern banking but a small hoop to get free banking.
- PTSB Explore account: €4 per month but cashback up to €5 per month @ 10c per debit card transaction. No Apple Pay, No Android Pay. Has a mobile app. Good choice if you make heavy use of your debit card.

Sue Pa Key Pa

PTSB. Online is excellent. Haven't been in a branch for 4 years