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Switching Bank Account - few questions

  • 30-06-2017 1:53pm
    #1
    AnSliabhCorcra
    Registered Users, Registered Users 2 Posts: 137 ✭✭


    Hi everybody! :cool: Happy Friday!

    I am currently with AIB; getting hammered quarterly on charges simply because I don't keep a big enough balance in my current account to avoid them.

    I have the following accounts with them:

    - Current
    - Savings (where i lodge savings before I transfer them to my ''proper'' savings account with KBC)
    - Loan (small value left, €600)
    - Credit Card (limit 2.7K, balance €300ish)


    my salary gets paid into my current account each month (circa 2.6K after tax).

    I am thinking to potentially move to Permanent TSB: I'm hearing good things about them these days and quite tempted by the benefits and charges of their current account. What's important for me is:

    - Good service
    - Lesser fees
    - Good online banking (important).

    My only concerns, and I guess the whole point of this long-winded message is:

    - we are hoping to buy a home in the next 6 months to a year (by that I mean, apply for a mortgage) and,
    - I would like to maintain my access to credit - I have a good history with AIB and can get credit with them no problem, if need be. Would that carry over or would I be jeapordising this?

    Anyway, sorry for the loooong message!

    Thanks


Comments

  • #2
    coylemj
    Registered Users, Registered Users 2 Posts: 25,622 ✭✭✭✭coylemj


    Do you pay off the credit card in full every month? If you do then it appears you would have a good credit record which will show that loan and that (hopefully) you made all the payments to the schedule. So a prospective new lender would see your good credit record and probably offer you a mortgage but if there are any black spots on your record, you might be better off staying with your present bank because a different bank will simply say 'no' unless you have a squeaky clean record.


  • #3
    CiniO
    Registered Users, Registered Users 2 Posts: 16,069 ✭✭✭✭CiniO


    Would you not be better off moving €2500 from your savings account to your current account to prevent the charges?

    AIB waives bank charged when you keep €2500 on your account afair. So if your charges are around €15 per quarter (€60 per annum) then keeping €2500 there gives you €60 annualy which is 2.4% AER. Does your savings account give you better after DIRT?


  • #4
    skippy2
    Registered Users, Registered Users 2 Posts: 393 ✭✭skippy2


    I have a good history with AIB..................always remember the banks could not care less about you or whatever history you have with them and you should treat them the same............ you are a customer and valuable to any bank they need your business

    also with PTSB and find them fine with no fees...........have moved babk a feew times if i get sick of them


  • #5
    AnSliabhCorcra
    Registered Users, Registered Users 2 Posts: 137 ✭✭AnSliabhCorcra


    Hi all!
    I decided to go for it; after being charged another round of bank charges for a quarter (nearly 40 squid!) I decided that enough was enough.

    Whilst some might say, why not have savings sitting in my current account, I understand that and it may make sense but for me, it's not what I want. I want my savings entirely separate.

    Have to say, first impressions of PTSB are very positive. Hope it continues in such a way!


  • #6
    AlmightyCushion
    Moderators, Education Moderators, Technology & Internet Moderators Posts: 35,125 Mod ✭✭✭✭AlmightyCushion


    AnSliabhCorcra wrote: »
    Hi all!
    I decided to go for it; after being charged another round of bank charges for a quarter (nearly 40 squid!) I decided that enough was enough.

    Whilst some might say, why not have savings sitting in my current account, I understand that and it may make sense but for me, it's not what I want. I want my savings entirely separate.

    Have to say, first impressions of PTSB are very positive. Hope it continues in such a way!

    Be careful with PTSB, they are starting to charge for their current accounts soon. I'd go KBC over PTSB. I moved from PTSB to KBC about 9 months ago and couldn't be happier. Their app is a lot nicer to use and they are a lot quicker to adopt new technologies like Android pay. Getting free banking with KBC is fairly easy too.


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  • #7
    AnSliabhCorcra
    Registered Users, Registered Users 2 Posts: 137 ✭✭AnSliabhCorcra


    AlmightyCushion wrote: »
    Be careful with PTSB, they are starting to charge for their current accounts soon. I'd go KBC over PTSB. I moved from PTSB to KBC about 9 months ago and couldn't be happier. Their app is a lot nicer to use and they are a lot quicker to adopt new technologies like Android pay. Getting free banking with KBC is fairly easy too.

    Hi there! Thanks for the heads up. In actual fact, I've taken a current account with them that has charges; it's 4 euro p.m set fee and I'm actually 'happy' with it as I don't have to worry about the unexpected bill-size.

    I actually hold my savings with KBC and I am pretty impressed with them too, I must say. My only turn-off is that there are too few branches around the country but it's certainly a bank that i'd consider banking with in the future.

    This move of accounts, however, was about more than just the fees. For me, I was growing ever more annoyed with the disregard for my custom that AIB had and I was adamant on moving away from the 'big two'. Of course, banks are banks but I would even go as far as to say I feel quite 'excited' by the move to a new bank.


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