Which Bank

torrevieja

I see Ulster BAnk are now charging you €2 a month Maintenance fee even though we bailed them out, regardless even if you have €3000,

My account is mainly direct debits and some wired lodgements

Just wondering if there are any banks out there that don’t have these charges or am I better of staying with them even though I’m down €24 a year

Zaph

torrevieja wrote: »

I see Ulster BAnk are now charging you €2 a month Maintenance fee even though we bailed them out

No we didn't. Ulster Bank were recapitalised through an injection of cash from their parent, Royal Bank of Scotland. RBS in turn were bailed out by the British taxpayers. Ulster Bank didn't get any money from the Irish government.

torrevieja

Zaph wrote: »

No we didn't. Ulster Bank were recapitalised through an injection of cash from their parent, Royal Bank of Scotland. RBS in turn were bailed out by the British taxpayers. Ulster Bank didn't get any money from the Irish government.

Ok but They were still bailed out by taxpayers

Zaph

torrevieja wrote: »

Ok but They were still bailed out by taxpayers

British ones, so why should that make any difference to which Irish bank you choose?

Witcher

Qrt

EBS? very basic I think but you avoid fees once you have more than €500 apparently

torrevieja

Zaph wrote: »

British ones, so why should that make any difference to which Irish bank you choose?

Interrogation I lived in the Uk for many years so I did bail them out while I was there,

torrevieja

Qrt wrote: »

EBS? very basic I think but you avoid fees once you have more than €500 apparently

Thanks Qrt that’s all I neeðed to know mate

TuringBot47

They used to charge €4 a month.

They "reduced it" to €2 but now have individual transaction charges of at least 20c or more. Just one of my accounts got charged €8.80 on top of the €2...

I've just tried out a Revolut card ( visa debit ), will probably top that up and use that instead for that account. I also have an N26 account/card but haven't used that yet.

So I'll be closing 1 of my 3 Ulster Bank accounts and seriously reconsidering the others.
I won't be paying €100 for one account for the most incompetent bank in Ireland, I.T. disasters, painfully slow processing of loan applications and punitive transaction charges.

coylemj

Qrt wrote: »

EBS? very basic I think but you avoid fees once you have more than €500 apparently

EBS Moneymanager account has no fees and no minimum balance or monthly lodgement. You get a debit card (new cards will be contactless from June 17, 2019) which you can use as an ATM card.

For what the OP is looking for, it sounds like a perfect fit but note that there is no mobile app and the EBS website is not mobile friendly. No chequebook either.

suirthing

im in the same boat as the OP, got charged over €13 for one months banking by Ulster Bank....

Can anyone who has an N26 account tell me if its possible to completely replace a standard bank account with it?? ie do i still need to have a bank account of some kind to use it? just need usual things - direct debits, atm, contactless etc no need for chequebook or overdraft, cheers

Qrt

suirthing wrote: »

im in the same boat as the OP, got charged over €13 for one months banking by Ulster Bank....

Can anyone who has an N26 account tell me if its possible to completely replace a standard bank account with it?? ie do i still need to have a bank account of some kind to use it? just need usual things - direct debits, atm, contactless etc no need for chequebook or overdraft, cheers

My own personal opinion is that N26 accounts are probably fine for most people, but they might be frowned upon if you're looking for a loan etc. They have a banking licence, but I doubt they'll be seen as a bank for a few years to come.

Delta2113

EBS Money Manager combined with Revolut FREE basic a/c is a no brainer!

BohsCeltic

Delta2113 wrote: »

EBS Money Manager combined with Revolut FREE basic a/c is a no brainer!

This is what i am going for. Already have Revolut so just need to open ESB a/c now.

torrevieja

coylemj wrote: »

EBS Moneymanager account has no fees and no minimum balance or monthly lodgement. You get a debit card (new cards will be contactless from June 17, 2019) which you can use as an ATM card.

For what the OP is looking for, it sounds like a perfect fit but note that there is no mobile app and the EBS website is not mobile friendly. No chequebook either.

Hi Coylemj. That sounds good but I have a question do I have to take the debit card and if so is there an annual charge or Government stamp duty see I don’t have any cards with Ulster or cheque books but there web page is alright

Also I have never been charged by Ulster bank before I see some of you have been charged 4 euro a month this didn’t happen to me I guess I had enough in bank to cover this so this €2 sucks

torrevieja

EBS Moneymanager account has no fees and no minimum balance or monthly lodgement. You get a debit card (new cards will be contactless from June 17, 2019) which you can use as an ATM card



Can anybody tell me if There is a Government Stamp duty on these Debit cards with EBS thanks

coylemj

torrevieja wrote: »

Hi Coylemj. That sounds good but I have a question do I have to take the debit card and if so is there an annual charge or Government stamp duty see I don’t have any cards with Ulster or cheque books but there web page is alright

You need the card to withdraw cash in an EBS branch, you dont get a pass book with a MoneyManager account.

The Govt. stamp duty only cuts in if you use it as an ATM card, if you take the card and only use it as a debit card or not at all, you won't pay any Govt. duty.

So it depends on how you use the card.......

Debit card only (no ATM withdrawals): no Govt duty.

ATM Only: 12c per transaction, capped at €2.50 p.a. Billed annually, usually in January.

ATM and debit card use: 12c per ATM withdrawal, capped at €5 p.a.

https://www.revenue.ie/en/property/stamp-duty/other-stamp-duty/financial-cards/atm-and-debit-cards.aspx

torrevieja

coylemj wrote: »

You need the card to withdraw cash in an EBS branch, you dont get a pass book with a MoneyManager account.

The Govt. stamp duty only cuts in if you use it as an ATM card, if you take the card and only use it as a debit card or not at all, you won't pay any Govt. duty.

So it depends on how you use the card.......

Debit card only (no ATM withdrawals): no Govt duty.

ATM Only: 12c per transaction, capped at €2.50 p.a. Billed annually, usually in January.

ATM and debit card use: 12c per ATM withdrawal, capped at €5 p.a.

https://www.revenue.ie/en/property/stamp-duty/other-stamp-duty/financial-cards/atm-and-debit-cards.aspx

Thanks coylemj I actually won’t be withdrawing, just lodging do I use the card when lodging ?

coylemj

torrevieja wrote: »

Thanks coylemj I actually won’t be withdrawing, just lodging do I use the card when lodging ?

Yes, you need the card for any kind of transaction in an EBS branch - lodge, withdraw, get a draft etc.

Delta2113

You could use your EBS card in shops and get cashback and not get hit with the Government 12cent ATM charge.

The J Stands for Jay

suirthing wrote: »

im in the same boat as the OP, got charged over €13 for one months banking by Ulster Bank....

Can anyone who has an N26 account tell me if its possible to completely replace a standard bank account with it?? ie do i still need to have a bank account of some kind to use it? just need usual things - direct debits, atm, contactless etc no need for chequebook or overdraft, cheers

I've done it.

Rock Paper Scissors

I've done it also.

Everything is n26 now for me

torrevieja

but can you lodge money in a n26?

The J Stands for Jay

torrevieja wrote: »

but u can you lodge money in a n26?

In the the and a half years I've banked with them I've never needed to. Where's everyone getting this cash from anyway?

368100

torrevieja wrote: »

I see Ulster BAnk are now charging you €2 a month Maintenance fee even though we bailed them out, regardless even if you have €3000,

My account is mainly direct debits and some wired lodgements

Just wondering if there are any banks out there that don’t have these charges or am I better of staying with them even though I’m down €24 a year

How do you think banks can operate without some form of charges?

You want an account, card, statements, online banking all for free? )

torrevieja

368100 wrote: »

How do you think banks can operate without some form of charges?

You want an account, card, statements, online banking all for free? )

Yes i do want it free Mate, Could never understand that Charging you for Lodging and withdrawls

If i kept €3000 there would be no charges, but Greedy Banks Getting Greedier,

One Teller on all the Time

i don't have a card,

Statements are online,

cookie1977

My wife and I were with PTSB which I liked a lot up until the rapid increase in charges. I've moved lock stock to N26 and we maintain her account with PTSB which works for us.
We've AIB credit cards and we use these 99% of the time to pay for stuff through android pay. A few little hick ups setting up direct debits with N26 (mainly down to those other companies) but all good now. My employer is happy to pay into the N26 too. I rarely use/handle cash now.

Dirkziggler

torrevieja wrote: »

I see Ulster BAnk are now charging you €2 a month Maintenance fee even though we bailed them out, regardless even if you have €3000,

My account is mainly direct debits and some wired lodgements

Just wondering if there are any banks out there that don’t have these charges or am I better of staying with them even though I’m down €24 a year

All banks have quarterly fees. I think your mad to be agrieved by €24 euro a year. Do all your wire transfers by Western Union or some other obscure money transfer set up and pay 20 quid a transfer.

Qrt

368100 wrote: »

How do you think banks can operate without some form of charges?

You want an account, card, statements, online banking all for free? )

To be fair, this is how pretty much every bank in the UK operates. Day to day stuff is free, but they hammer you with transfer fees.

torrevieja

Dirkziggler wrote: »

All banks have quarterly fees. I think your mad to be agrieved by €24 euro a year. Do all your wire transfers by Western Union or some other obscure money transfer set up and pay 20 quid a transfer.

dirkziggler
Not Quite Correct : EBS Moneymanager account has no fees and no minimum balance or monthly lodgement. You get a debit card (new cards will be contactless from June 17, 2019) which you can use as an ATM card

Ulster Bank Had no Charges as long as you had €3000 minnium but they got greedy and took this away So EBS here i come...

368100

torrevieja wrote: »

Yes i do want it free Mate, Could never understand that Charging you for Lodging and withdrawls

If i kept €3000 there would be no charges, but Greedy Banks Getting Greedier,

One Teller on all the Time

i don't have a card,

Statements are online,

So I.T. maintenance, staff costs, interbank charges, costs of issuing cards etc. Should be 100% carried by the bank, while you get a completely free service?
I think people forget these days that banks are a business, there to make money. What other main services are 100% free these days? None

cookie1977

368100 wrote: »

So I.T. maintenance, staff costs, interbank charges, costs of issuing cards etc. Should be 100% carried by the bank, while you get a completely free service?
I think people forget these days that banks are a business, there to make money. What other main services are 100% free these days? None

Banks make money from loans using deposits in current and savings accounts. Our banks are also charging some of the highest interest rates in europe on mortgages due to their mistakes. Not to mention the significant amount of EU tax payers money poured into them. I see them as milking it when they are taking double digit figures off me per quarter while offering me 0% interest rates on my deposits.

Yes current accounts should be free. There's plenty of other places to add charges.

The J Stands for Jay

cookie1977 wrote: »

Banks make money from loans using deposits in current and savings accounts.

I see them as milking it when they are taking double digit figures off me per quarter while offering me 0% interest rates on my deposits.

p

The vast majority of the banks' lending is done using funds that they borrow, target than from the deposits they hold. You may remember this being at the heart of their issues during the credit crunch.

The double digit interest you're paying did sound too high. You should easily be able to refinance that to a lower rate.

cookie1977

McGaggs wrote: »

p

The vast majority of the banks' lending is done using funds that they borrow, target than from the deposits they hold. You may remember this being at the heart of their issues during the credit crunch.

The double digit interest you're paying did sound too high. You should easily be able to refinance that to a lower rate.

The double digit refers to fees per quarter for the current accounts (6 euro per month). It's not asking too much for banks to offer free current accounts while still charging for other things.

368100

cookie1977 wrote: »

Banks make money from loans using deposits in current and savings accounts. Our banks are also charging some of the highest interest rates in europe on mortgages due to their mistakes. Not to mention the significant amount of EU tax payers money poured into them. I see them as milking it when they are taking double digit figures off me per quarter while offering me 0% interest rates on my deposits.

Yes current accounts should be free. There's plenty of other places to add charges.

So somebody with just a current account, no loans, mortgages, deposits or credit cards should be offered a 100% free service for nothing in return?

cookie1977

368100 wrote: »

So somebody with just a current account, no loans, mortgages, deposits or credit cards should be offered a 100% free service for nothing in return?

Yes, yes that's exactly what I said....

...of course not.

It doesnt matter. The more people that vote with their feet and move to banks that offer no quarterly (n26) or reduced fees the quicker the banks will get the message. N26 has fees for certain things like foreign exchange and atm withdrawals so it's possible for a bank to make money while still offering free current accounts.

368100

cookie1977 wrote: »

Yes, yes that's exactly what I said....

...of course not.

It doesnt matter. The more people that vote with their feet and move to banks that offer no quarterly (n26) or reduced fees the quicker the banks will get the message. N26 has fees for certain things like foreign exchange and atm withdrawals so it's possible for a bank to make money while still offering free current accounts.

Is a bank that charges for atm withdrawals offering a free current account?

And N26 isnt a sustainable business model...

cookie1977

368100 wrote: »

Is a bank that charges for atm withdrawals offering a free current account?

And N26 isnt a sustainable business model...

Yes as it gives 5 free before charging you and since I rarely take money out it never affects me. And lets not talk about sustainability in the banking sector without mentioning the very fact that many European banks owe their very existence to a bailout by tax payers.

Delta2113

Nobody and I repeat nobody should be paying for Current Accounts when you still have FREE options.