New Personal Current Account Monthly Fee

Bank of Ireland: Tara

Hi all,
 
Just a reminder that our new monthly €6 current account fee will be charge for the first time on 31^st December 2020. On the same day we will also apply the last ever quarterly current account fees for the period August 24^th to November 22^nd 2020. This will mean two different sets of fees will be applied on the same day but are for different periods.


The fee that will be listed as Current Account Fees or Notified Fees covers the period between August 24th - November 22nd 2020 and the fee that will be listed as Maintaining Acc is the new monthly fee for December 2020. Going forward you will be charged the €6 monthly fee on the last banking day of each calendar month e.g. January 31st, February 28th etc. 
 
Why did we make this change?


Customers have told us that our fees were too complex and that there was so many of them it made it hard to keep track. From November 23^rd 2020 we introduced a simple, clearer and fairer pricing for our personal current accounts and we’ve eliminated 26 individual charges.
 
This means that no matter how much you tap or go to the ATM you’ll always know where you stand. Personal customers will no longer pay an individual bank charge for the following Euro-based transactions:

• Debit card contactless, chip & PIN or online transactions
• ATM and lodgement transactions
• Automated/self-service transactions (for example direct debit, standing order)
• Over-the-counter branch transactions
• Unpaid direct debits, unpaid standing orders, unpaid cheques
• Cheque book issuing charges (Government stamp duty still applies)
• Domestic bank drafts (Government stamp duty still applies)
• Charges for cheque retrievals (copies of cheques you have written)
• Referral item charges (for going over limit with no overdraft facility in place)
  

Students, Graduates and Golden Years Customers will be exempt from the monthly fee.

The No Transaction Fees offer - where a personal current account holder with a minimum balance of €3000 for an entire fee quarter was not charged account transaction fees - ended on November 23rd 2020.

As always, any questions please ask

Thanks
Tara

 

Wickerman1

And that's why I moved my account to N26!  No fees and a full service for Apple and Android customers.
Adios  BOI and AIB.

Nodferatu

I'll be moving banks then. Stuff your account fees.

phester28

I just got this text "a little reminder" I have not been informed at all so its is hardly a reminder. So the fees have gone from 20pa (5 euro per quarter) to 72 euro PA. I am now seriously comparison credit union vs KBC. I may need a bricks and mortar from time to time so dont want to consider n26.

screamer

I’m moving my account also. Sorry BOI but this is pure fleecing of your loyal customer base.

Silent night

Absolutely a disgrace then to have the balls to look for the quarterly fee and the first month payment together hang you head in shame moving too

budhabob

As a family we have both our main accounts and a joint account with BoI, and have been customers of BoI for over 30years. On the basis of this we will be moving all accounts elsewhere.

GoldenCygnet

Filthy robbin’ *****!!!!

NIMAN

Whatever way you try to sell it, replacing annual charges of €20 with one of €72 isn't being done for the benefit of your customers.

XVII

On the same day we will also apply the last ever quarterly current account fees for the period August 24th to November 22nd 2020.

The No Transaction Fees offer - where a personal current account holder with a minimum balance of €3000 for an entire fee quarter was not charged account transaction fees - ended on November 23rd 2020.

I had a minimum of 3000 balance on the account before 23rd of November, but was still charged for that period. Can you please elaborate.

Bank of Ireland Reps

XVII wrote: »

On the same day we will also apply the last ever quarterly current account fees for the period August 24th to November 22nd 2020.

The No Transaction Fees offer - where a personal current account holder with a minimum balance of €3000 for an entire fee quarter was not charged account transaction fees - ended on November 23rd 2020.

I had a minimum of 3000 balance on the account before 23rd of November, but was still charged for that period. Can you please elaborate.

Hi XVII 

Thanks for joining the thread.

A colleague with account access can certainly check this for you. 

You can login on the Mobile App select Services and scroll down to 'send a message' or if you prefer login to site www.365online.com select Service Desk - Ask a Question and send your query. A colleague can review this and come back to you. 

Hoping the above helps, 


Many thanks
Alison

1874

So when is the 6 euro fee for? you havent made it clear if the new fee is running alongside the existing charges or if you are taking it in advance.
Either way, as others have said, kicking myself Ive been slow to move my banking needs fully elsewhere as the majority of transactions are through BOI, although I already have another provider, will just start transferring services and funds from BOI to that account, so that will be changing as soon as possible for me.
  I can see no other option but to close my current account as there is no value or purpose in keeping it open.
IMO this seems to be the intention of BOI, we will probably see some effort or scramble at a later date, maybe a few years down the road to recover customers to BOI when you realise that customers with current/basic banking usually get other products from their banking provider, only thing I can suggest to other customers is CLOSE your accounts with BOI, I plan on transferring ALL my dealings elsewhere, not just over the increase in charges, but also for the apparent double charging of services (the failure of their banking app to function), seems to me to be a nonsensical way to deal with your customers.

As for the problems with the banking App, took an age to get through (and I was on the verge of hanging up at 14mins, which imo is a long time to hold on), On the phone BOI cant even confirm if this charge is in advance or arrears, so wont clarify if both charges overlap.

my banking with boi for current account/mortgage saver (recently) and mortgages is almost 29.5 years, was always reluctant to close the account as I had it so long, just dont see any alternative and does not even seem like BOI are bothered.

1874

How much can I transfer in one transaction at a time from a mortgage saver account?
or is there a limit?

Boards.ie: Niamh

I've removed the last two posts just now, if you would like to ask about banking with another bank, please do so in the general Banking forum. Thanks. 

Bank of Ireland: Megan

1874 wrote: »

So when is the 6 euro fee for? you havent made it clear if the new fee is running alongside the existing charges or if you are taking it in advance.
Either way, as others have said, kicking myself Ive been slow to move my banking needs fully elsewhere as the majority of transactions are through BOI, although I already have another provider, will just start transferring services and funds from BOI to that account, so that will be changing as soon as possible for me.
  I can see no other option but to close my current account as there is no value or purpose in keeping it open.
IMO this seems to be the intention of BOI, we will probably see some effort or scramble at a later date, maybe a few years down the road to recover customers to BOI when you realise that customers with current/basic banking usually get other products from their banking provider, only thing I can suggest to other customers is CLOSE your accounts with BOI, I plan on transferring ALL my dealings elsewhere, not just over the increase in charges, but also for the apparent double charging of services (the failure of their banking app to function), seems to me to be a nonsensical way to deal with your customers.

As for the problems with the banking App, took an age to get through (and I was on the verge of hanging up at 14mins, which imo is a long time to hold on), On the phone BOI cant even confirm if this charge is in advance or arrears, so wont clarify if both charges overlap.

my banking with boi for current account/mortgage saver (recently) and mortgages is almost 29.5 years, was always reluctant to close the account as I had it so long, just dont see any alternative and does not even seem like BOI are bothered.

Good afternoon,

Thanks for getting in touch with us here on Boards.ie

I am very sorry to hear you are unhappy with this. On the 31st of December, we began our new few structure which is a flat maintenance fee of €6 a month which covers all service fees(copy statements, unpaid direct debits etc) and transaction fees(point of sale/ATM withdrawals). On the same day, we charged our quarterly fees from August-November. Same day, but different time periods.

From January 2021, the €6 flat fee will be charged on the last working day of each month. This will replace your quarterly fees. A notification of this would have been sent to you through text message and there is a notification visible on our mobile app.

Please be assured we value your feedback and I will be sure to share this with the relevant department.

There is no maximum withdrawal from a Mortgage Saver. You can request to withdraw your funds by logging into the new mobile app, select Services and then Send Us a Message. 

I hope this information was helpful.

Many thanks,
Megan

1874

Bank of Ireland: Megan wrote: »

1874 wrote: »

So when is the 6 euro fee for? you havent made it clear if the new fee is running alongside the existing charges or if you are taking it in advance.
Either way, as others have said, kicking myself Ive been slow to move my banking needs fully elsewhere as the majority of transactions are through BOI, although I already have another provider, will just start transferring services and funds from BOI to that account, so that will be changing as soon as possible for me.
I can see no other option but to close my current account as there is no value or purpose in keeping it open.
IMO this seems to be the intention of BOI, we will probably see some effort or scramble at a later date, maybe a few years down the road to recover customers to BOI when you realise that customers with current/basic banking usually get other products from their banking provider, only thing I can suggest to other customers is CLOSE your accounts with BOI, I plan on transferring ALL my dealings elsewhere, not just over the increase in charges, but also for the apparent double charging of services (the failure of their banking app to function), seems to me to be a nonsensical way to deal with your customers.

As for the problems with the banking App, took an age to get through (and I was on the verge of hanging up at 14mins, which imo is a long time to hold on), On the phone BOI cant even confirm if this charge is in advance or arrears, so wont clarify if both charges overlap.

my banking with boi for current account/mortgage saver (recently) and mortgages is almost 29.5 years, was always reluctant to close the account as I had it so long, just dont see any alternative and does not even seem like BOI are bothered.

Good afternoon,

Thanks for getting in touch with us here on Boards.ie

I am very sorry to hear you are unhappy with this. On the 31st of December, we began our new few structure which is a flat maintenance fee of €6 a month which covers all service fees(copy statements, unpaid direct debits etc) and transaction fees(point of sale/ATM withdrawals). On the same day, we charged our quarterly fees from August-November. Same day, but different time periods.

From January 2021, the €6 flat fee will be charged on the last working day of each month. This will replace your quarterly fees. A notification of this would have been sent to you through text message and there is a notification visible on our mobile app.

Please be assured we value your feedback and I will be sure to share this with the relevant department.

There is no maximum withdrawal from a Mortgage Saver. You can request to withdraw your funds by logging into the new mobile app, select Services and then Send Us a Message.

I hope this information was helpful.

Many thanks,
Megan

Well, at least that clears that bit up,
I wont be making any transactions from the App because despite following instructions to the letter how to correct problems with that, the App never functioned following recent problems, even after speaking to someone on the phone (who told me there was no problem on their end and questioned if it was my phone). It took to see in Boards that my experience/problem with that wasn't isolated.

For some reason, I was still willing to maintain my account (that was on the basis of it being a functioning service), but imo BOI has poor customer service, poor communication, even on the apparent (but now explained) charging overlap, the fact the App doesnt work(for me and the questionable implementation), poor responses when you get through on the phone and even here on Boards (where you can be directed to ring up), and response times over the phone (thats assuming you get answered or can wait as long as it takes, I dont believe many people have the time to wait out 10,12,14 mins or longer to be answered, or hold on that long to find out if you will be responded to, I have on a few occasions, gotten through, been put on hold and not gotten back to or had the call dropped) and the first thing that's thrown at you is the recorded message that the phone lines are experiencing high call volumes (thats always).

I prefer a bricks & Mortar service (BOI barely provides that now), as you're doing that minimally, then a functional online service (which includes a functional App), only holding on till current DD are paid as it's too inconvenient to change them over imo with a few months to go.