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Avoiding Bank Fees & Charges

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  • Registered Users Posts: 29 findmenow


    Cameraman wrote: »
    They are also regulated in this country.

    Not very reassuring given the history of regulation (of any industry) in Ireland. :-)


  • Moderators, Education Moderators, Technology & Internet Moderators Posts: 35,065 Mod ✭✭✭✭AlmightyCushion


    Is there anything wrong with just going with/staying with KBC for now? It's not like tomorrow you'll be a BoI customer. It'll likely take a good year or 2 to transition. That's a year or 2 of no fees vs 1990s EBS bank account.

    N26 isn't an option for myself as work don't pay into it.


    * I literally opened a KBC account 2 days ago, and i've the switcher form ready to go.

    It might even take more than a year or 2. Yeah, I'll be sticking with KBC while I can but keeping an eye on other options. At the moment though most of the other options aren't great. They all have some area where they fall down a bit whereas KBC worked for me for everything (only real disadvantage of KBC is lack of branches and no cash services in branches which never bothered me).


  • Moderators Posts: 12,371 ✭✭✭✭Black_Knight


    It might even take more than a year or 2. Yeah, I'll be sticking with KBC while I can but keeping an eye on other options. At the moment though most of the other options aren't great. They all have some area where they fall down a bit whereas KBC worked for me for everything (only real disadvantage of KBC is lack of branches and no cash services in branches which never bothered me).

    What's cash? Seriously, only for the trip to the recycling center every 2 weeks I wouldn't need cash.

    May as well join KBC, it'll match up nicely with my Ulster Bank mortgage (fixed, so i'm unphased).


  • Moderators, Business & Finance Moderators Posts: 6,306 Mod ✭✭✭✭Sheep Shagger


    xckjoo wrote: »
    II just need to figure out the credit card side of things. I don't think the CU or N26 offers them.

    Credit cards are supposed to be coming soon here with n26 and as credit unions try to get on day to day business they could have them soon too.

    It's the only thing I have left with BOI, closed everything and moved it to n26 and Revolut last year. The few times I need to lodge cash or cheques I use a lodgement machine to my BOI Mastercard and it has no fees.


  • Registered Users Posts: 12,445 ✭✭✭✭TheDriver


    JTMan wrote: »
    Options are:
    1. Free account if you are under 18, student, graduate, over 60/66.
    2. Free account with EBS but no app, no mobile payments, no online direct debit etc.
    3. Free account with Revolut or N26 or Monese but no cash/branch service.
    4. Pay PTSB 6 EUR per month and get 5 EUR per month cashback via debit card usage or more if you have Sky.
    5. Combo EBS (for rare branch needs) with Revolut or N26 or Monese. i.e. Use Revolut, N26 and Monese for 99% of your banking needs and EBS only if you are stuck. I think this is the best option.

    Are EBS that bad? What exactly are their limitations compared to an AIB account?


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  • Registered Users Posts: 14,675 ✭✭✭✭MisterAnarchy


    dulpit wrote: »

    [*]N26 or Revolut (but obvious caveats of no branch network/etc)

    Revolut is not a bank.

    No proper banking licence, no deposit guarantee, can freeze account on a whim.

    N26 is a much better option.


  • Moderators, Business & Finance Moderators Posts: 6,306 Mod ✭✭✭✭Sheep Shagger


    N26 is a much better option.

    Agreed ( and I have both).

    Not sure why Revolut seems to be the 'go to alternative....n26 doesn't get qs much as a push on boards, maybe as Revolut has been around longer.


  • Registered Users Posts: 10,238 ✭✭✭✭Dodge


    Agreed ( and I have both).

    Not sure why Revolut seems to be the 'go to alternative....n26 doesn't get qs much as a push on boards, maybe as Revolut has been around longer.

    There’s a massive n26 thread in the banking forum.

    The main difference is that most people use revolut as a travel/internet spend card account. Very few people leave their main bank and use both

    Most n26 users use it as a bank, but there’s obviously less of them

    They’re completely separate products


  • Registered Users Posts: 26,558 ✭✭✭✭Creamy Goodness


    Agreed ( and I have both).

    Not sure why Revolut seems to be the 'go to alternative....n26 doesn't get qs much as a push on boards, maybe as Revolut has been around longer.

    Being able to hold different currency wallets is the main reason I use Revolut over n26. Also the fact that when I tried to cancel my Black n26 card they were arsey about it and when I looked into closing my account the terms stated that if I did so, I could no longer sign up for n26 for 10 years. 10 years is a long time and it was enough to sour my opinion of them and just leave a 0.00 balance with them.


  • Registered Users Posts: 5,725 ✭✭✭The J Stands for Jay


    Cameraman wrote: »
    Ditto. They are may not be very innovative or cheap (charges, exchange rates etc) but I've found them solid on the basics.
    They also have people you can talk to on the phone/twitter/branch (where there's still one). They are also regulated in this country.

    I've been told that you can't rely on them to give you a correct account balance, especially at the weekends, transactions disappear and reappear, and they don't do SEPA instant. Doesn't sound like they have the basics covered.

    If nothing goes wrong, you'd have no need to contact your bank.

    There's people on here who would argue there no advantage to being regulated in Ireland.


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  • Registered Users Posts: 5,725 ✭✭✭The J Stands for Jay


    Agreed ( and I have both).

    Not sure why Revolut seems to be the 'go to alternative....n26 doesn't get qs much as a push on boards, maybe as Revolut has been around longer.

    When did revolut become available in Ireland? I opened my N26 account in 2015, well before I signed up to revolut.


  • Registered Users Posts: 5,540 ✭✭✭JTMan


    TheDriver wrote: »
    Are EBS that bad? What exactly are their limitations compared to an AIB account?

    No app
    No mobile payments (Google Pay, Apple Pay etc)
    No online direct debit set up
    Branch only account opening
    Cannot receive payments in any currency except euro (For example, EBS will reject USD into your EUR account)
    High FX fees for payments (versus Revolut, N26 and Monese)
    Very basic service


  • Registered Users Posts: 12,445 ✭✭✭✭TheDriver


    JTMan wrote: »
    No app
    No mobile payments (Google Pay, Apple Pay etc)
    No online direct debit set up
    Branch only account opening
    High FX fees (versus Revolut, N26 and Monese)
    Very basic service

    So good for paying salary into, DD for bills and debit card for the shops.
    And then use a revolut for foreign/google


  • Registered Users Posts: 1,801 ✭✭✭hold my beer


    TheDriver wrote: »
    So good for paying salary into, DD for bills and debit card for the shops.
    And then use a revolut for foreign/google


    This is exactly what I've been doing for years with BOI and Revolut.


  • Registered Users Posts: 2,814 ✭✭✭bromley52


    Is there anything wrong with just going with/staying with KBC for now? It's not like tomorrow you'll be a BoI customer. It'll likely take a good year or 2 to transition. That's a year or 2 of no fees vs 1990s EBS bank account.

    N26 isn't an option for myself as work don't pay into it.


    * I literally opened a KBC account 2 days ago, and i've the switcher form ready to go.

    Say with them. You will eventually start getting loads of correspondence explaining the process and what your options are.
    If you have a mortgage with KBC it might be worth looking into the option of switching to another bank and getting some money/lower rate out of it.


  • Registered Users Posts: 4,566 ✭✭✭enfant terrible


    Am I right in saying you get free banking with AIB if you have a mortgage with them?


  • Registered Users Posts: 2,139 ✭✭✭lau1247


    Am I right in saying you get free banking with AIB if you have a mortgage with them?

    correct (From the AIB account you are using the direct debit to pay from).

    West Dublin, ☀️ 7.83kWp ⚡5.66 kWp South West, ⚡2.18 kWp North East



  • Registered Users Posts: 479 ✭✭Cameraman


    findmenow wrote: »
    Not very reassuring given the history of regulation (of any industry) in Ireland. :-)

    It is indeed a bit of a mixed blessing :-)
    However, I'd prefer to be in the position of getting a response from an Irish regulator than one in some faraway country, where different laws might apply.


  • Registered Users Posts: 565 ✭✭✭feargantae


    McGaggs wrote: »
    I've been told that you can't rely on them to give you a correct account balance, especially at the weekends, transactions disappear and reappear, and they don't do SEPA instant. Doesn't sound like they have the basics covered.

    If nothing goes wrong, you'd have no need to contact your bank.

    There's people on here who would argue there no advantage to being regulated in Ireland.

    None of the main Irish banks support SEPA Instant yet. It's just Revolut and N26


  • Registered Users Posts: 565 ✭✭✭feargantae


    McGaggs wrote: »
    When did revolut become available in Ireland? I opened my N26 account in 2015, well before I signed up to revolut.

    Both launched in 2015, Revolut was before N26 or Number26 as it was then.


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  • Registered Users Posts: 4,139 ✭✭✭shanec1928


    TheDriver wrote: »
    So good for paying salary into, DD for bills and debit card for the shops.
    And then use a revolut for foreign/google
    Make sure you have a branch close by cause nearly everything will involve a visit to carry it out.


  • Registered Users Posts: 1,178 ✭✭✭Fozzie Bear


    literally opened a KBC account 2 days ago, and i've the switcher form ready to go.

    Exact same boat. Just finalised it this week and waiting on the cards to be posted out now. Moving from UB. Just fcukin sickened with this news. Was going to look into moving the mortgage from BoI to them also.

    Still going through with it though cos UB are a shower of gowls. Not sure about the mortgage now

    If my credit union ever start offering current accounts I’ll be gone in a flash.


  • Registered Users Posts: 5,725 ✭✭✭The J Stands for Jay


    feargantae wrote: »
    Both launched in 2015, Revolut was before N26 or Number26 as it was then.

    Thanks.

    26 was supposed to be the number of moves to solve a rubrix cube I think. The N26 app still shows images of the old Number 26 card with the 26 sided shape on it for their ...loading... image.


  • Registered Users Posts: 798 ✭✭✭Yyhhuuu


    Credit cards are supposed to be coming soon here with n26 and as credit unions try to get on day to day business they could have them soon too.

    It's the only thing I have left with BOI, closed everything and moved it to n26 and Revolut last year. The few times I need to lodge cash or cheques I use a lodgement machine to my BOI Mastercard and it has no fees.

    Re: Credit Cards, try Avant Money ( formerly Avantcard) although its almost as difficult as switching mortgage such were the details they required and having to re-submit multiple times.

    At least I'm richer by €30.


  • Registered Users Posts: 798 ✭✭✭Yyhhuuu


    TheDriver wrote: »
    Are EBS that bad? What exactly are their limitations compared to an AIB account?

    Ebs online is appalling. Often times you can't log in at all...


  • Registered Users Posts: 1,776 ✭✭✭faolteam


    TheDriver wrote: »
    So good for paying salary into, DD for bills and debit card for the shops.
    And then use a revolut for foreign/google

    and whats Ebs charges ?


  • Registered Users Posts: 798 ✭✭✭Yyhhuuu


    faolteam wrote: »
    and whats Ebs charges ?

    Zero


  • Registered Users Posts: 6,209 ✭✭✭highdef


    It's still free with AIB if you have a mortgage with them.
    A lot of Ulster mortgages would be taken over by AIB when the time comes.
    Never paid any bank fees going on 18 years now

    I'm the same, no charges at all.... Happy days.


  • Registered Users Posts: 3,380 ✭✭✭xckjoo


    Yyhhuuu wrote: »
    Re: Credit Cards, try Avant Money ( formerly Avantcard) although its almost as difficult as switching mortgage such were the details they required and having to re-submit multiple times.

    At least I'm richer by €30.

    Thanks I hadn't come across this before. The cashback rate looks interesting. Is there any caveats to watch out for?


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  • Registered Users Posts: 389 ✭✭bugsyb4


    Nightmare news when this broke during the week. I know probably means f88k all but surely surprising too considering the amount of advertising they have out, seems way more than the regular Irish banks.

    Were with BOI for years and moved all current accounts to BOI last year before they started fleecing us for €6 a month so to hear BOI were the ones in talk with KBC was a double whammy!! Also with KBC have 2 mortgages, investment funds and savings account so be a lot of tidying up needed to be done when time comes which hopefully as a few posters mentioned will be a few years down the track.

    Pity as had no major issues with KBC really.


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