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Bank of ireland increasing fees(not an april fools joke)

  • 22-03-2020 12:37pm
    #1
    Registered Users, Registered Users 2 Posts: 403 ✭✭


    Just wondering has anyone received notices from their banks to say they are increasing their fees in may for cheque and cash handling fees.I have no problem paying fees but I find this absolutely outrageous given the current situation we are facing the biggest crisis to face all mankind in a century.the increase is a 33% increase does anyone else find this situation unacceptable seeing as we have our politicians on tv telling us that the banks are going to look after irish citizens seeing as we looked after them not so long ago


«1

Comments

  • Closed Accounts Posts: 2,346 ✭✭✭easypazz


    bizidea wrote: »
    Just wondering has anyone received notices from their banks to say they are increasing their fees in may for cheque and cash handling fees.I have no problem paying fees but I find this absolutely outrageous given the current situation we are facing the biggest crisis to face all mankind in a century.the increase is a 33% increase does anyone else find this situation unacceptable seeing as we have our politicians on tv telling us that the banks are going to look after irish citizens seeing as we looked after them not so long ago

    Cheques and cash are obsolete.


  • Registered Users, Registered Users 2 Posts: 403 ✭✭bizidea


    Cash is legal tender how can it be obsolete soon they will be printing plenty more of it and handing it out.and thats not what I asked are people not disgusted that at this present moment in time with all thats going on how can anyone be increasing fees


  • Registered Users, Registered Users 2 Posts: 3,932 ✭✭✭yosser hughes


    Probably a good idea to disincentivize the use of cash and cheques given the risk of transmission.
    Good move by the banks.


  • Closed Accounts Posts: 2,346 ✭✭✭easypazz


    bizidea wrote: »
    Cash is legal tender how can it be obsolete soon they will be printing plenty more of it and handing it out.and thats not what I asked are people not disgusted that at this present moment in time with all thats going on how can anyone be increasing fees

    Just ask for cash back at the shop.


  • Registered Users, Registered Users 2 Posts: 403 ✭✭bizidea


    Probably a good idea to disincentivize the use of cash and cheques given the risk of transmission.
    Good move by the banks.

    Yes I am sure now thats why the banks are upping their fees they have the best interests of irish citizens at heart and trying to keep us safe thanks for that yosser now I realise why they are doing it


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  • Registered Users, Registered Users 2 Posts: 403 ✭✭bizidea


    easypazz wrote: »
    Just ask for cash back at the shop.
    Its the lodging of it thats the problem if you are in business or even lodging cheques


  • Closed Accounts Posts: 2,346 ✭✭✭easypazz


    bizidea wrote: »
    Its the lodging of it thats the problem if you are in business or even lodging cheques

    Just get a card machine.


  • Registered Users, Registered Users 2 Posts: 5,178 ✭✭✭killbillvol2


    Are they currently charging you for full stops?


  • Registered Users, Registered Users 2 Posts: 1,218 ✭✭✭Islander13


    bizidea wrote: »
    Yes I am sure now thats why the banks are upping their fees they have the best interests of irish citizens at heart and trying to keep us safe thanks for that yosser now I realise why they are doing it

    Spot on, good job BOI


  • Registered Users, Registered Users 2 Posts: 403 ✭✭bizidea


    easypazz wrote: »
    Just get a card machine.

    Most people would not have cards mainly older people I would deal with


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  • Registered Users, Registered Users 2 Posts: 403 ✭✭bizidea


    Are they currently charging you for full stops?

    Your obviously an english teacher


  • Registered Users, Registered Users 2 Posts: 5,178 ✭✭✭killbillvol2


    bizidea wrote: »
    Your obviously an english teacher

    I agree with the sentiment of your complaint but your post made my eyes hurt.


  • Registered Users, Registered Users 2 Posts: 403 ✭✭bizidea


    Its not acceptable that boi are upping their fees at this moment in time full stop.Are you happy now killbill.


  • Registered Users, Registered Users 2 Posts: 403 ✭✭bizidea


    I agree with the sentiment of your complaint but your post made my eyes hurt.

    Its making my head hurt that boi think they can get away with this cosidering what is happening in the world.I am not sure people realise the consequences of our current situation both the social and economic situation we will find ourselves in.


  • Closed Accounts Posts: 2,346 ✭✭✭easypazz


    bizidea wrote: »


    Most people would not have cards mainly older people I would deal with

    Bullsh1t. ATM cards are here since 1980. All the old people were young then.

    Everybody I know has a card.


  • Registered Users, Registered Users 2 Posts: 403 ✭✭bizidea


    easypazz wrote: »
    Bullsh1t. ATM cards are here since 1980. All the old people were young then.

    Everybody I know has a card.

    I am afraid not once ive been offered card payment once in almost twenty years.I know my customers it will be cheque or cash payments. A few people are starting to make online payments but this is a very small percentage


  • Registered Users, Registered Users 2 Posts: 403 ✭✭bizidea


    easypazz wrote: »
    Bullsh1t. ATM cards are here since 1980. All the old people were young then.

    Everybody I know has a card.

    I am afraid only once ive been offered card payment once in almost twenty years.I know my customers it will be cheque or cash payments. A few people are starting to make online payments but this is a very small percentage


  • Registered Users, Registered Users 2 Posts: 5,892 ✭✭✭The J Stands for Jay


    bizidea wrote: »
    Just wondering has anyone received notices from their banks to say they are increasing their fees in may for cheque and cash handling fees.I have no problem paying fees but I find this absolutely outrageous given the current situation we are facing the biggest crisis to face all mankind in a century.the increase is a 33% increase does anyone else find this situation unacceptable seeing as we have our politicians on tv telling us that the banks are going to look after irish citizens seeing as we looked after them not so long ago

    Probably about right, an increase in line with the dangers of handling contaminated cash


  • Registered Users, Registered Users 2 Posts: 403 ✭✭bizidea


    I really dont think people realise the economic fall out there is going to be from this.do people think everything is just going to go back to normal on the governments date of 29th of March I'm afraid not its only going to start kicking off then.it will be closer to the 29th of September before anything like normality resumes.economically this will effect everyone from private to public to self-employed.there is going to be a massive bill to be paid and in the middle of it bank's are upping their fees


  • Registered Users, Registered Users 2 Posts: 25,698 ✭✭✭✭coylemj


    bizidea wrote: »
    I am afraid only once ive been offered card payment once in almost twenty years.I know my customers it will be cheque or cash payments. A few people are starting to make online payments but this is a very small percentage

    What do you sell - knitted tea cosies?


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  • Registered Users, Registered Users 2 Posts: 16,610 ✭✭✭✭yabadabado


    bizidea wrote: »
    Its not acceptable that boi are upping their fees at this moment in time full stop.Are you happy now killbill.

    When this crisis is over ,move all your banking away from BoI.Thats the only thing that matters to them ,no point crying about it online.


  • Registered Users, Registered Users 2 Posts: 2,182 ✭✭✭Ger Roe


    McGaggs wrote: »
    Probably about right, an increase in line with the dangers of handling contaminated cash

    It's nothing to do with the current virus situation, it's just a badly timed introduction of yet more new fees. No more and no less.


  • Registered Users, Registered Users 2 Posts: 403 ✭✭bizidea


    Ger Roe wrote: »
    It's nothing to do with the current virus situation, it's just a badly timed introduction of yet more new fees. No more and no less.
    Yes exactly it should not be allowed to happen in the current crisis.we have not seen anything yet we are all going to have to play our part to recover from this and upping charges is not going to help anyone


  • Closed Accounts Posts: 1,429 ✭✭✭Wuff Wuff


    bizidea wrote: »
    Your obviously an english teacher

    You're*


  • Registered Users, Registered Users 2 Posts: 403 ✭✭bizidea


    Wuff Wuff wrote: »
    You're*

    I think at this moment in time people should be more worried about their survival and the survial of their older and vulnerable realatives and friends than about proper english grammer obviously you have nothing to worry about


  • Registered Users, Registered Users 2 Posts: 11,253 ✭✭✭✭martingriff


    Probably a good idea to disincentivize the use of cash and cheques given the risk of transmission.
    Good move by the banks.

    Haven't Bank of Ireland froze fees on çontactless


  • Registered Users, Registered Users 2 Posts: 403 ✭✭bizidea


    All fees should be frozen across the board not give it with one hand and take it with the other thats pure hypocrisy


  • Registered Users, Registered Users 2 Posts: 17,273 ✭✭✭✭Sleeper12


    easypazz wrote:
    Just get a card machine.


    I gave my card machine back. Costing us 60 to 70 euros per month rental and fees. Cash, cheques and bank transfers now & am saving a small fortune


  • Registered Users, Registered Users 2 Posts: 17,273 ✭✭✭✭Sleeper12


    easypazz wrote:
    Everybody I know has a card.


    My business gets 5 to 10 cheques per week. There's still a lot of people who do not use cards


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  • Closed Accounts Posts: 1,429 ✭✭✭Wuff Wuff


    bizidea wrote: »
    I think at this moment in time people should be more worried about their survival and the survial of their older and vulnerable realatives and friends than about proper english grammer obviously you have nothing to worry about

    I think at this moment in time people should be more worried about their survival and the survial of their older and vulnerable realatives and friends than crying about increases in a business account fees of a couple of cent

    Obviously you've nothing to worry about


  • Closed Accounts Posts: 2,346 ✭✭✭easypazz


    Sleeper12 wrote: »
    My business gets 5 to 10 cheques per week. There's still a lot of people who do not use cards

    Is it €1 to lodge a cheque, a card machine costs about €20 now per month.

    And cheques bounce, or get misplaced, and you have to trek to the bank with them.

    It costs more to lodge cash than to take it by card.

    But please yourself, I know nobody that uses cheques now, although obviously there are a few dinosaurs out there who insist on using redundant technology.

    Banks will phase out cheques completely one of these days.


  • Registered Users, Registered Users 2 Posts: 403 ✭✭bizidea


    Its not businesses fault if their customers want to pay by cash or cheque if I start telling older customers I can only accept online banking I wont have too many customers


  • Registered Users, Registered Users 2 Posts: 17,273 ✭✭✭✭Sleeper12


    easypazz wrote:
    But please yourself, I know nobody that uses cheques now, although obviously there are a few dinosaurs out there who insist on using redundant technology.

    My transactions are large anywhere from 300 to 1500 euro per transaction. Almost all of my clients are homeowners and over the age of 40 but we have clients in their 80s. We get plenty of cheques. Cheques can be lodged free of charge into a Bank Of Ireland credit card account. Zero. No fee at all.

    Cash is the cheapest form payment for us. We lodge absolutely no cash in our business account. Our materials are about two thirds of the price we charge. All cash is used to purchase materials & /or taken as wages. We turnover over 300k per year yet our bank fees are 120 to 150 euro per year. When we accepted cards we were paying an extra 700 to 800 euro in fees. Accepting cards was the most expensive way for us to get paid.


  • Registered Users, Registered Users 2 Posts: 17,273 ✭✭✭✭Sleeper12


    It is worth remembering that official statistics state that more than half of all transactions in Ireland are still cheques or cash. We still haven't hit the tipping point where card payments accounts for half or more than half of total transactions in Ireland. Maybe this emergency will tip the scales


  • Registered Users, Registered Users 2 Posts: 403 ✭✭bizidea


    This emergency will tip the scales for a lot of practices and traditions in the way we live our lives forever in this country it just hasn't sank home with people yet


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  • Registered Users, Registered Users 2 Posts: 17,273 ✭✭✭✭Sleeper12


    bizidea wrote:
    This emergency will tip the scales for a lot of practices and traditions in the way we live our lives forever in this country it just hasn't sank home with people yet


    Sadly it will tip it in two ways. One because contactless is safer than cash (chip and pin on larger transactions are still risky) so people are advised to try use contactless. Sadly though the other way is because the virus is going to reduce the numbers of the generations that mostly write the cheques.


  • Registered Users, Registered Users 2 Posts: 403 ✭✭bizidea


    Sleeper12 wrote: »
    Sadly it will tip it in two ways. One because contactless is safer than cash (chip and pin on larger transactions are still risky) so people are advised to try use contactless. Sadly though the other way is because the virus is going to reduce the numbers of the generations that mostly write the cheques.

    I agree but not only payment wise but the way we live our daily lives


  • Posts: 3,505 ✭✭✭ [Deleted User]


    bizidea wrote: »
    does anyone else find this situation unacceptable seeing as we have our politicians on tv telling us that the banks are going to look after irish citizens seeing as we looked after them not so long ago

    Look after us?

    They can keep looking after us as long as they can stay in business.

    We can either accept banks charging us for the services we're using, or we can pressure them to cut fees until they hit the point of needing a bailout again - at which point we'll be charged based on how much tax we pay rather than the services we used.

    I realise it's not as easy for businesses, but as a personal customer there are plenty of ways to be smart about how you use your account in order to reduce fees. I'd rather do that then get hit with a tax hike because the public expect banks to act like charities.


  • Registered Users, Registered Users 2 Posts: 25,698 ✭✭✭✭coylemj


    We can either accept banks charging us for the services we're using, or we can pressure them to cut fees until they hit the point of needing a bailout again - at which point we'll be charged based on how much tax we pay rather than the services we used.

    Well said. I'm sick to the teeth with the constant whinging along the lines of 'we bailed out the banks so how dare they charge us for services'.

    AIB getting stick for daring to introduce a ONE CENT charge for contactless! Give me a fcuking break!


  • Registered Users, Registered Users 2 Posts: 403 ✭✭bizidea


    Look after us?

    They can keep looking after us as long as they can stay in business.

    We can either accept banks charging us for the services we're using, or we can pressure them to cut fees until they hit the point of needing a bailout again - at which point we'll be charged based on how much tax we pay rather than the services we used.

    I realise it's not as easy for businesses, but as a personal customer there are plenty of ways to be smart about how you use your account in order to reduce fees. I'd rather do that then get hit with a tax hike because the public expect banks to act like charities.

    Im not asking them to cut fees they are increasing their fees by 33% in May in the worst crisis to hit mankind in a century.in case you haven't realised there is going to be a massive bill to be paid when corona virus passes so your already going to have tax hikes you and a lot of people need to wake up and smell the coffee it amazes me how people dont realise whats ahead of us


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  • Registered Users, Registered Users 2 Posts: 25,698 ✭✭✭✭coylemj


    bizidea wrote: »
    Im not asking them to cut fees they are increasing their fees by 33% in May in the worst crisis to hit mankind in a century.in case you haven't realised there is going to be a massive bill to be paid when corona virus passes so your already going to have tax hikes you and a lot of people need to wake up and smell the coffee it amazes me how people dont realise whats ahead of us

    As people move more and more to electronic payment for retail transactions, people who are still stuck in the stone age will have to start paying fees which reflect the fact that cheques and cash require greater human involvement on the part of bank staff.

    Yes, we will probably have to pay higher taxes after the crisis but what has got to do with bank charges? Bank have to pay commercial rates, the cost of their IT infrastructure and branch network and and staff wages. None of which will go down because of this crisis.


  • Registered Users, Registered Users 2 Posts: 17,273 ✭✭✭✭Sleeper12


    coylemj wrote:
    As people move more and more to electronic payment for retail transactions, people who are still stuck in the stone age will have to start paying fees which reflect the fact that cheques and cash require greater human involvement on the part of bank staff.


    This works both ways. As the banks earn less & less money from cash & cheques they will need to get this money from somewhere. All banks will introduce charges for card use both chip and pin and contractless. AIB were just about to introduce such charges but postponed them until the emergency is over. Charges will be small at first but they will increase as time goes on.


  • Registered Users, Registered Users 2 Posts: 5,892 ✭✭✭The J Stands for Jay


    Sleeper12 wrote: »
    My business gets 5 to 10 cheques per week. There's still a lot of people who do not use cards

    Even back in the olden days of working on an office, about 3 weeks ago, during a conversation it came up that out of 10 of us, only one had a cheque book.


  • Posts: 3,505 ✭✭✭ [Deleted User]


    bizidea wrote: »
    Im not asking them to cut fees they are increasing their fees by 33% in May in the worst crisis to hit mankind in a century.in case you haven't realised there is going to be a massive bill to be paid when corona virus passes so your already going to have tax hikes you and a lot of people need to wake up and smell the coffee it amazes me how people dont realise whats ahead of us

    I realise hard times are here, and more are coming.

    I'm just always baffled as to why people feel entitled to banking services in such a different way than other services. No one is crying out for free milk, or bread, or cheese. No one is looking for discounted car washes, plumbers, or coffees. The overriding message I've seen since this started is that people should be trying to support businesses.

    But when it comes to banking, everyone's outraged. The word used over on the AIB fees thread was that bringing out fees now is 'abhorrent'. These are raises that would have been planned long before the coronavirus outbreak, based on a real need from the bank to support it's personal customer services, but people are acting like they've swept down like vultures on a wounded public. They're just trying to keep themselves running.


  • Registered Users, Registered Users 2 Posts: 17,273 ✭✭✭✭Sleeper12


    McGaggs wrote: »
    Even back in the olden days of working on an office, about 3 weeks ago, during a conversation or came up that out of 10 of us, only one had a cheque book.


    That may be so but out in my world it's a totally different case. I'm in shower installation/repair. I usually only deal with the home owner. They tend to be 40s upwards. We very rarely deal with younger clients & if we do it's the older landlords that bay the bill. I deal with clients in their 50s, 60s 70s 80s & even 90s. We still get lots of cheques per week. Several thousand per year in fact.


    Someone earlier said it costs one euro to lodge a cheque. It doesn't. It costs around a euro for the person writing the cheque. I can lodge them without paying any fees at all. We pay 10c for each ET we receive. If we install a shower for lets say 800 euro & we get paid by cheque & I lodge it in my business account I pay far less than a euro but it can be lodged into other accounts free of charge. Getting paid in cash costs me nothing as This can go towards materials. ET costs 10c. If someone paid me by credit card I paid .75 percent = 6 euro. 6 euro in fees for a single transaction & I have to pay 20 euro per month rental. Card payments are way too expensive for me. It is the most expensive way for me to get paid.


  • Registered Users, Registered Users 2 Posts: 403 ✭✭bizidea


    I realise hard times are here, and more are coming.

    I'm just always baffled as to why people feel entitled to banking services in such a different way than other services. No one is crying out for free milk, or bread, or cheese. No one is looking for discounted car washes, plumbers, or coffees. The overriding message I've seen since this started is that people should be trying to support businesses.
    But when it comes to banking, everyone's outraged. The word used over on the AIB fees thread was that bringing out fees now is 'abhorrent'. These are raises that would have been planned long before the coronavirus outbreak, based on a real need from the bank to support it's personal customer services, but people are acting like they've swept down like vultures on a wounded public. They're just trying to keep themselves running.
    Lets make this clear I am not looking for anything for free I'm simply saying that now is not the time for any increase in any fees for anything.the milk man or the plumber wont be increasing their fees by 33% in a few weeks so why should the bank be allowed to


  • Closed Accounts Posts: 2,346 ✭✭✭easypazz


    Sleeper12 wrote: »
    That may be so but out in my world it's a totally different case. I'm in shower installation/repair. I usually only deal with the home owner. They tend to be 40s upwards. We very rarely deal with younger clients & if we do it's the older landlords that bay the bill. I deal with clients in their 50s, 60s 70s 80s & even 90s. We still get lots of cheques per week. Several thousand per year in fact.


    Someone earlier said it costs one euro to lodge a cheque. It doesn't. It costs around a euro for the person writing the cheque. I can lodge them without paying any fees at all. We pay 10c for each ET we receive. If we install a shower for lets say 800 euro & we get paid by cheque & I lodge it in my business account I pay far less than a euro but it can be lodged into other accounts free of charge. Getting paid in cash costs me nothing as This can go towards materials. ET costs 10c. If someone paid me by credit card I paid .75 percent = 6 euro. 6 euro in fees for a single transaction & I have to pay 20 euro per month rental. Card payments are way too expensive for me. It is the most expensive way for me to get paid.

    One thing you have not mentioned is bounced cheques or somebody saying, I have to go to the bank tomorrow to get cash etc.

    We all get caught with this. I find with card there is no messing with these smart arse clients.

    You also have to factor in going to and from the bank to lodge payments etc., and paying suppliers by cash, restricts you to somebody local who may not be the best value.

    If it works for you then great, but cheques are going to be abolished soon anyway, and in my experience everybody assumes you have a card machine these days.

    The only exception seems to be chippers and takeaways.


  • Registered Users, Registered Users 2 Posts: 17,273 ✭✭✭✭Sleeper12


    easypazz wrote:
    One thing you have not mentioned is bounced cheques or somebody saying, I have to go to the bank tomorrow to get cash etc.


    In 30 years I have never had a bad cheque. Remember I install showers in the home so I know where they live. It's not blindly taking a cheque in a shop. Often with ET it's transfered later in the day. I could as easily get stung that way. There is a huge danger with cards where they can do a charge back. This is time consuming to rectify and can be costly.

    I have gone into homes before and taken the shower back out due to non payment by landlord


  • Registered Users, Registered Users 2 Posts: 5,892 ✭✭✭The J Stands for Jay


    easypazz wrote: »
    One thing you have not mentioned is bounced cheques or somebody saying, I have to go to the bank tomorrow to get cash etc.

    We all get caught with this. I find with card there is no messing with these smart arse clients.

    You also have to factor in going to and from the bank to lodge payments etc., and paying suppliers by cash, restricts you to somebody local who may not be the best value.

    If it works for you then great, but cheques are going to be abolished soon anyway, and in my experience everybody assumes you have a card machine these days.

    The only exception seems to be chippers and takeaways.

    When I got 2 bathrooms redone and a new shower, I paid by bank transfer.

    Local chipper takes cards.

    Times are changing.


  • Registered Users, Registered Users 2 Posts: 403 ✭✭bizidea


    I see aib have put their charges on hold fair play to them it will be interesting to see if Boi do the same


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