Irish Banks are a joke: I'm closing my Irish bank account

landofthetree

Whoever starts up the Irish version of Monzo,Starling N26,Revolut etc will become a multimillionaire.

Wanderer78

ILoveYourVibes wrote: »

Its always a shocker to Irish people that German banks needed to be bailed out.

But they did. And their scandals were far far worse ..and are still ongoing.

yup, germanys private sector banks!

ILoveYourVibes

Wanderer78 wrote: »

ILoveYourVibes wrote: »

thats interesting, no mention of germanys public banks, sparkasse and kfw! id imagine most, if not all you mentioned, are in fact germanys private sector banks!

Yeah no sorry ..public banks in germany got bailed out too KFW and IKB.

KFW owned IKB ..IKB went under ...got bailed out. Then KFW got bailed out.

the Sparkassen also got a bailout in all but name.

They owned the landesbanken which was about to fail...so they sold their stake in it to the German govt ....and then the tax payer bore the brunt of the fail

FRANKFURT WestLB was another public german bank that got a bailout.

Wanderer78

ILoveYourVibes wrote: »

Wanderer78 wrote: »

Yeah no sorry ..public banks in germany got bailed out too KFW and IKB.

KFW owned IKB ..IKB went under ...got bailed out. Then KFW got bailed out.

the Sparkassen also got a bailout in all but name.

They owned the landesbanken which was about to fail...so they sold their stake in it to the German govt ....and then the tax payer bore the brunt of the fail

was unware of those bailouts, can you link me, thank you? i still advocate for public banks though, ive researched enough on them now, even though i do realize theyre just as vulnerable as private sector banks

ILoveYourVibes

Wanderer78 wrote: »

yup, germanys private sector banks!

And the public ones just as much my friend.;)

Sparkassen especially.

ILoveYourVibes

Wanderer78 wrote: »

ILoveYourVibes wrote: »

was unware of those bailouts, can you link me, thank you? i still advocate for public banks though, ive researched enough on them now, even though i do realize theyre just as vulnerable as private sector banks

I have nothing against public sector banks.
Sure.

https://www.forbes.com/sites/francescoppola/2017/10/24/the-wondrous-german-public-sector-banks-arent-all-they-are-cracked-up-to-be/

https://www.nytimes.com/2008/02/08/business/worldbusiness/08cnd-west.html

https://www.ft.com/content/b90e3848-fe9a-427e-8a17-3facd01ff4be

Sparkassen is not really an actual bank by the way ..its a term for a type of bank

Its a system.

Wanderer78

ILoveYourVibes wrote: »

Wanderer78 wrote: »

I have nothing against public sector banks.
Sure.

https://www.forbes.com/sites/francescoppola/2017/10/24/the-wondrous-german-public-sector-banks-arent-all-they-are-cracked-up-to-be/

https://www.nytimes.com/2008/02/08/business/worldbusiness/08cnd-west.html

Sparkassen is not really an actual bank by the way ..its a term for a type of bank

Its a system.

ah i ll go with my resources, which call it a public bank, including a sparkasse ceo, but i think ireland should start with a public infrastructure bank similar to kfw, as scotland just has

cal naughton

Fleeced is the word with Australian bank's. Just had a look at my old bank in Oz. ANZ. For a personal loan there is an 150 AUD application fee, 10aud monthly loan admin fee and then 300 if you have the audacity to pay it off early.

None of that with Irish bank's

ILoveYourVibes

Wanderer78 wrote: »

ILoveYourVibes wrote: »

ah i ll go with my resources, which call it a public bank, including a sparkasse ceo, but i think ireland should start with a public infrastructure bank similar to kfw, as scotland just has

Savings banks in german speaking countries are called a sparkasse

Their are 400 separate instutions in germany that are sparkassen.

Savings banks in German-speaking countries are called Sparkasse (pl: Sparkassen)

You have Sparkasse Schwyz etc its a regional swiss bank ..because there are sparkassen in switzerland because they speak german ..but these sparkassen have nothing to do with sparkassen in germany.

Wanderer78

ILoveYourVibes wrote: »

Wanderer78 wrote: »

Savings banks in german speaking countries are called a sparkasse

Their are 400 separate instutions in germany that are sparkassen.



You have Sparkasse Schwyz etc ..because there are sparkassen in switzerland because they speak german ..but these sparkassen have nothing to do with sparkassen in germany.

im aware of germans sparkasse, ive been researching this a long time now, sparkasse members were here giving talks after 08, explaining their system, im sold, but im aware, all financial institutions are problematic, public and private

ILoveYourVibes

Wanderer78 wrote: »

ILoveYourVibes wrote: »

im aware of germans sparkasse, ive been researching this a long time now, sparkasse members were here giving talks after 08, explaining their system, im sold, but im aware, all financial institutions are problematic, public and private

interesting

Wanderer78

ILoveYourVibes wrote: »

Wanderer78 wrote: »

interesting

always good to learn more though, from people such as yourself

ILoveYourVibes

Wanderer78 wrote: »

ILoveYourVibes wrote: »

always good to learn more though, from people such as yourself

Sure you have taught me just as much i would say.

Muahahaha

_Godot_ wrote: »

I just have an ebs account (which is free), and use revolut and monese. I don't have to pay any pesky fees.

Currently in the process of switching to EBS because they're free, they are the last bank in Ireland not to charge customers for day to day banking. This site gives a good comparison of charges across all the different banks and EBS wins hands down everytime
https://www.ccpc.ie/consumers/money-tools/current-account-comparison/

s8n

cheerio OP

Marcusm

deandean wrote: »

The only cash I have used in the last few months is a 2 Euro coin for a shopping trolley.

The Cancer Society will give you a key ring with €1 and €2 sized pieces. Now I’m never short (but that’s because I’m 6’5”).

iamstop

Cash back is usually no fees. I do that mostly when in need of cash.

grogi

cal naughton wrote: »

Fleeced is the word with Australian bank's. Just had a look at my old bank in Oz. ANZ. For a personal loan there is an 150 AUD application fee, 10aud monthly loan admin fee and then 300 if you have the audacity to pay it off early.

None of that with Irish bank's

But that's for a loan. You don't need a loan.

sdanseo

Daragh1980 wrote: »

When I worked in England, the bank charges were a lot higher than here. Particularly if you went overdrawn or had a cheque or direct debit bounced on you.

Not sure what is like now but it always amuses me to see people like the OP who think it should be free. Why should any business offer its services for free? Does the OP work for free?

I agree in principle, and caveat emptor. But they have the use of your money while they are holding it on your behalf. That is not a thing of no value, especially if you have large deposits.

Irish banks pay little to no interest, while constantly and consistently increasing charges to consumers. They have the market to themselves with a small number of players and they doubtless conspire to ensure no one steps out of line. Like the insurance industry, it's a cartel that isn't a cartel.

The EU, while it has overstepped in other areas, should prioritise being able to bank with any financial institution in the Eurozone (and mandate your salary for example, to a French bank) without additional charges, should the institution provide that service. Period.

grogi

sdanseo wrote: »

The EU, while it has overstepped in other areas, should prioritise being able to bank with any financial institution in the Eurozone (and mandate your salary for example, to a French bank) without additional charges, should the institution provide that service. Period.

What is stopping you from doing so? There are many Eurozone banks that would gladly passport to Ireland.

Montage of Feck

My credit union have written to tell me that they no longer want my money! But they do want me to take out a car loan.