Switching Banks

FFVII

Apparently 1 million need to have switched from KBC and Ulster Bank in the next few months, where's everyone going and why?

johnire

GBX

Big discussion in the banking forum on it

Atlantic Dawn

Hopefully most to some non-Irish banks, less profit for those banks happy to be based here under the crooked resposession rules limiting any foreign bank ever offering mortgages here.

bromley52

https://www.boards.ie/discussion/2058242288/switching-banks

My main bank is now N26 as it has everything I need. If I need to deal in cash I use PTSB.

Revolut is also an option now as it is a fully fledged bank as of the last couple of weeks.

awec

https://www.boards.ie/discussion/comment/118945136#Comment_118945136

n26 may not really be option for people at the moment, they're under serious pressure from various regulators in the EU with the German one especially all over them. Will probably see some further enforcement action in the nearish future. Big problems with fraud and money laundering apparently.

They have been instructed to limit new customers at the moment, so there'll probably be a long wait for anyone looking to open an account.

xckjoo

https://www.boards.ie/discussion/comment/118945136#Comment_118945136

I was looking at doing something similar but found a lot of posts on Reddit about N26 accounts being frozen without much reason so staying away from them for now.

My plan is Credit Union for deposits and Revolut for current account type usage

amber2

Irish banks work on the basis that it’s too much effort for long-standing customers to switch and leave them, the rapport that was there years ago is well and truly gone. Vote with your feet and leave them, granted there isn’t a huge choice out there atm.

CPTM

https://www.boards.ie/discussion/comment/118945920#Comment_118945920

When you say Revolut for Current Account.. How do your direct debits work on that front? Say Netflix, Gas/Heating/Electricity.. Tv/phone bills. Is it possible to set these bills up with a card number as opposed to Iban? Or is there an Iban associated to our Revolut accounts that I'm not aware of?

Wheety

There is an IBAN for your Revolut. It will be a Lithuanian IBAN.

My Credit Union can have DDs and Standing Orders. I don't have a current account with the CU, that's just my Shares account.

Pataman

https://www.boards.ie/discussion/comment/118946873#Comment_118946873

I have all mine setup through a revolut debit card. Easy

awec

https://www.boards.ie/discussion/comment/118946873#Comment_118946873

Revolut accounts come with an IBAN.

But it is Lithuanian which causes some problems with some Irish companies who insist on an Irish IBAN. It's actually illegal for them to do this as per the EU, but nothing is done about it.

I think usually you can get it all to work, but it will be effort.

Mousewar

EBS has an account which is zero fees but I hate EBS so I'll probably do credit union.

Riesen_Meal

EBS and Revolut for me, left Ulster a few years ago now....

The EBS online banking and stuff is shíte, but functional....

Little thing's like when you set the app up on your phone, they have to post you put a code every time you need to reinstall the app on a new device...

Then when you do you need to ring them to get another code to relay to the app....

You get what you pay for... i.e not much 😂

Strumms

Same experience with EBS...from great to appaling just so user unfriendly...

Problem too is with the population growth as is and a major influx of people that will continue...

We'll be getting less service yet paying more charges...

xckjoo

https://www.boards.ie/discussion/comment/118946893#Comment_118946893

I'm glad other people answered you because I didn't know the answer 😀

I'm still in the early days of testing the set up. Haven't made much effort with it yet. I'll dump a load of money into the CU account this month and see how it works. Then start moving DD's, etc.

The one thing I'm not sure of yet is if I can do instant moves from CU to Revolut. I tried it once and it took a while for money to appear in my Revolut account. I might need to just get better for planning ahead with it. Or I might get and Avant Credit Card and add to Revolut through Google Pay

BronsonTB

Check out the existing threads for similar with plenty of guidance.....

https://www.boards.ie/discussion/2058227293/switching-from-ulster-bank-to

Can a mod lock this to avoid duplication of the very same questions being answered.