Reduce banking fees

Ginger83

I'm currently with Ptsb. What banks offer the best rates on fees for current accounts?

Ezeoul

Literally received a letter from PTSB this morning that the fixed Current Account Maintenance Fee for the Explore Account is going up from €6 a month to €8 a month from 1st April, and the spend and save rewards for using your card, are reducing from 10c per transaction, to 5c per transaction.

Ginger83

https://www.boards.ie/discussion/comment/121694608#Comment_121694608

It's too much for me so I plan to move.

What is your view?

zell12

They all have fees except EBS. More people are shifting online to Revolut Bunq N26, whilst maintaining a physical basic deposit account that has no fees

Ginger83

https://www.boards.ie/discussion/comment/121694683#Comment_121694683

What's the general view of EBS?

feelings

PTSB were quick to go from free banking (with conditions) to 8 EUR/month. Only a matter of months? The rest will follow that's for sure.

zell12

https://www.boards.ie/discussion/comment/121694713#Comment_121694713

It works fine if you remember 1990s banking.

ongarite

https://www.boards.ie/discussion/comment/121694713#Comment_121694713

Its fine if you think banking features from 20 years ago are still passable in 2024.

Ezeoul

https://www.boards.ie/discussion/comment/121694642#Comment_121694642

I think an increase was inevitable at some stage, as its been at €6 for a while now.

I'm not going to go to the bother of switching for the sake of €2 a month, and I still expect I will receive the full €5 in rewards, so net cost will only be €3 a month to me, so I'll stay put for now.

I'm not sure of any cheaper options out there.

CuriousCucumber

I have a PTSB current account, but only because I wanted the saving account.

I use Revolut for nearly everything else.

Going to switch to AIB I think

The J Stands for Jay

Download your transactions, get all the transaction types, and do a few sumifs to figure out how many of each you generally do in a month. Use this data to figure out which bank account is most suited to your usage. Choose whichever meta your requirements of cost and service.

Buffman

There's nothing stopping you having accounts with multiple organisations.

EBS Money manager (their current account) along with Revolut/N26/etc are all free. (AFAIK you do have to pay postage on the physical cards with Rev/N26)

Ye, EBS don't have a banking app so you have to use an internet browser on the phone, no big deal. If it helps them keep costs low for a free account, I'm all for it. They do have an account authentication app and card manager app.

Then just use Revoult/N26/whatever for easier and more secure online purchases with virtual cards that you can freeze/unfreeze instantly.

lau1247

https://www.boards.ie/discussion/comment/121694820#Comment_121694820

I think there is a drop of the reward too mentioned over at AAM.

"However, the cashback payment is going from 10c per transaction to 5c per transaction from the beginning of April."