Bank of Ireland

Theremin

So Bank of Ireland are laying off 12% of staff despite massive profits and widespread disgust and condemnation across the nation?

I see only one solution to such a profound disregard for public opinion in favour of corporate greed: as many people as possible should immediately shut down their BOI accounts and make it clear when doing so that their actions are as a direct result of the 'downsizing'.

Seems to be the only way to put the fat cats in their place.

Obviously a new account will be required. AIB's record is none too good either though, so Ulster Bank would be one suggestion - they seem to actually have some respect for the customer.

We should be ashamed of ourselves if we let this happen without any intervention. Act now!

CTU_Agent

I agree the downsizing is wrong...but wont our actions inevitably end up in more staff cuts?

Imposter

I don't see a problem. Maybe you'll pay less in bank charges as a result*

If only the government would downsize some of extra staff!




*I said maybe

scargill

on the other hand if they are overstaffed maybe this will help reduce their costs and in turn make things cheaper for all of us ? They've been shaken into action by Bank of Scotland.

CTU_Agent

but surely if we all close our accounts, that means less money for BOI and eventually mean more staff cuts because BOI cant afford to keep so much staff. I agree BOI should be 'reprimanded' for their actions and this would be a nice way to hurt them... but would it do more harm than good?

Turlock

I think something has to be done in the long run it would be better for everyone if they closed their accounts

krinpit

Why should the Bank of Ireland be reprimanded for imposing job cuts?

drdre

Just close your account.If they lay off staff that means service and quality will decrease. why should we pay bank charges.
i will be the 1st to close the account if this happens, as i pay for service and their service is already decreasing for the past couple of years. Do you agree?

the_syco

Its a bank. Bank make money. If a bank doesn't make much money, it'll become more compact, to get more profit. It ain't a bleeding charity company!

simu

the_syco wrote:

Its a bank. Bank make money. If a bank doesn't make much money, it'll become more compact, to get more profit. It ain't a bleeding charity company!

Agreed. They don't have a duty to keep people in jobs!

Would just like to point out that Bank Of Ireland are the only bank that offer any form of 100% free banking. Under 18's have free banking, so far that Bank of ireland pay's the government tax duty each year, which every other bank takes out of your funds.

Lafortezza

I do most of my banking online now. Can't remember the last time I went into a branch BOI.
I can handle service of lower quality when I do my annual "bring-piggy-bank-change-to-the-bank" run if it means lower bank charges.

roryodonnell

I don't feel too sorry for them after they demanded compensation for the Euro changeover.

Theremin

Sorry - don't know how to use quotes.

Re: "but surely if we all close our accounts, that means less money for BOI and eventually mean more staff cuts because BOI cant afford to keep so much staff. I agree BOI should be 'reprimanded' for their actions and this would be a nice way to hurt them... but would it do more harm than good?"

I'm not naive enough to think that a significant enough amount of people would close their accounts to affect BOI profits to the extent that they actually have to lay off staff (with a valid reason). It's more about having a representative group of people voicing their displeasure - effectively sending a warning to BOI that more people might take actions like this if they don't put their house in order.

Re: "Its a bank. Bank make money. If a bank doesn't make much money, it'll become more compact, to get more profit. It ain't a bleeding charity company!"

True, it's not a charity, but it does hold an effective duopoly in this country and its huge profits are at least partly due to being allowed to bypass anti-competition laws. Its success is built on the business of Irish people and it is also a customer-focused industry above anything else. As such it has a responsibilty to listen to public opinion and act on it.

krinpit

Theremin wrote:

As such it has a responsibilty to listen to public opinion and act on it.

Maybe in Agnstland, Bizarro World

It's a public company and as such, it has a responsiblity to its shareholders. It's not a semi-state body such as ESB, Bord Gais or An Post where the normal laws of economics don't apply.

rondjon

Deleted User wrote:

Would just like to point out that Bank Of Ireland are the only bank that offer any form of 100% free banking. Under 18's have free banking, so far that Bank of ireland pay's the government tax duty each year, which every other bank takes out of your funds.

permanent TSB provide completely free banking for anyone who goes in to set up an account.

Government fees are nothing to do with the banks so therefore shouldn't enter into any discussion regarding "free" banking.

chump

I don't believe TSB offer as quick a service when it comes to lodging cheques. BOI now do the express lodegements in general on the same day - and not necessarily from your own branch.

ArthurG

rondjon wrote:

permanent TSB provide completely free banking for anyone who goes in to set up an account.

Government fees are nothing to do with the banks so therefore shouldn't enter into any discussion regarding "free" banking.

AIB also offer a kinda free service, discussion was as follows:

Me: I want free banking or I'm leaving, taking my loan, credit card and savings with me

AIB: Sorry sir, there's nothing I can do

Me: Okay, please provide me with my account switching code

AIB: Oh actually we can waive your fees

This was about 6 weeks ago.

krinpit

ArthurG wrote:

AIB also offer a kinda free service, discussion was as follows:

:
:
:

Priceless

woody

ArthurG wrote:

AIB also offer a kinda free service, discussion was as follows:

Me: I want free banking or I'm leaving, taking my loan, credit card and savings with me

AIB: Sorry sir, there's nothing I can do

Me: Okay, please provide me with my account switching code

AIB: Oh actually we can waive your fees

This was about 6 weeks ago.

Did you ring them or go into them...

I am getting buggered big time for fee's about 70 every quarter grrrrrrrrrh

LFCFan

I am with BOI for over 10 years now. I've built up a really good credit history with them, paying off at least 10 loans and never missing a payment. Now, when I need a loan, I do it online and it's approved straight away. On the other hand, I'm being raped with Bank Fees. I'm am soooooo sick of them. I pay €11.50 a quarter for 90 transactions, but still end up getting charged over €50 a quarter. It's a joke that they charge for Banking 365 transactions and call them 'Staff Assited'. I am effectively doing the work of their staff by using internet banking yet still get charged for it. They have the use of my money every week and they have made a fortune off me with all the loans I've had with them. I rang up and told them I was sick of the fees and was moving to Permanent TSB because they charge nothing and BOI couldn't give a toss. Going to move to Ulster Bank as I have my mortgage with them and they offer free banking for mortgage customers. Bye bye Bank of Ireland!!!!

krinpit

Woah! Didn't know they charged for Banking365 transactions. I just kinda assumed that it would be free...

LFCFan

krinpit wrote:

Woah! Didn't know they charged for Banking365 transactions. I just kinda assumed that it would be free...

So did I till I questioned why there were so many Staff Assisted Transactions on my fee notification and they told me they were my Banking 365 transactions!

ArthurG

woody wrote:

Did you ring them or go into them...

I am getting buggered big time for fee's about 70 every quarter grrrrrrrrrh

Phoned.....

Megatron

I was with BOI for about 10 years myself ... untill one fatefull weekend about 10 years ago when I was talking money out of the Drink link, checked my balance and it said the correct account.

Now a few driect depits where due to go through and they did.
Checked my balance the following monday and it hadn't changed. I rang
them up to find out what was going on, They said the direct depit had gone through and the balance on screen was correct.

So i used what was in my account. Then 3 weeks later i get a paid as i always do. Check my balance and there is £0 in there.

I was right outside my branch so i pop in to find out what's going on.
They said there was a problem with the atm machines and the central link to the server ( Arklow is where it was based). and that i had been spending money that wasn't mine, hence they took all my next paycheck. I explained that i had been in to quiry it but that didnt' matter. When i asked to speak with the manager he refused to speak to me at first because it was a Account issue.

I take the next day off ( well didn't have any money so seemed like the right thing to do) and head back up . I asked to speak with the manager, however this time he agree's to see me straight away. I explaine the situation and he says there is nothing he can do. I go on to say that i have no money, how am i ment to pay my rent, feed myself for the next month ? , his responce was "well you should of though of that when you where spending our money". he then proceddes to say that the meeting is over and that i am to leave.

He wouldn't see me again, refused point blank, so my father arranges a meetings ( he was in the same bank, as the majority of our family was) and takes me with him. the bank manager says he doesn't care , this is a dead issue. My Dad explaines that if nothing is done on this matter that the family will be pulling it's accounts from BOI. Manager as usualy coulnd't give a shi t about this, so we do so. pull all 27 accounts ( ammount £75,000 est.) the Bank manager rings up my dad askign why , we explaine it to him "again"
He goes mental, saying this is the first time he has heard of this complaint.

we are now with AIB, and in the 10 years i've been with them i've never had a problem that wasn't sorted quickly and profesionaly.

BOI = Muppets imo

Ohh almost forgot. The branch i was with closed 3 years after i left. with alot of accoutns going missing.

Jorinn

LFCFan wrote:

I am with BOI for over 10 years now. I've built up a really good credit history with them, paying off at least 10 loans and never missing a payment. Now, when I need a loan, I do it online and it's approved straight away. On the other hand, I'm being raped with Bank Fees. I'm am soooooo sick of them. I pay €11.50 a quarter for 90 transactions, but still end up getting charged over €50 a quarter. It's a joke that they charge for Banking 365 transactions and call them 'Staff Assited'. I am effectively doing the work of their staff by using internet banking yet still get charged for it. They have the use of my money every week and they have made a fortune off me with all the loans I've had with them. I rang up and told them I was sick of the fees and was moving to Permanent TSB because they charge nothing and BOI couldn't give a toss. Going to move to Ulster Bank as I have my mortgage with them and they offer free banking for mortgage customers. Bye bye Bank of Ireland!!!!

News to me, I've been charged a few hundred in the last year as a student (which I had to get entered onto my account in 3 different branches since they didn't seem to get it the first two times), each time I question it apparently they were right. Got a bit sick of it and requested the information they held on me, never got that as you have to pay 6 euro for YOUR OWN information but apparently thats legal (checked it out), will do it when I get the chance though. So going to be changing banks within the next few weeks.

I've never been in debt with them, never missed a payment on my credit card and so on and probably will be worth a fortune to them in the future. Their loss.

Their internet banking is a pain by the way, though appears very secure happily enough (security certificate on 1 computer, java based, passnumber and phrase, e.g more than 36 letters to be enetered for every tranaction, password can't be saved in firefox or other browsers, random generated data for security certificate through java application at signup(.

RainyDay

Most people get obsessed about the €10 or €20 per month spent on bank charges while ignoring uncompetitive interest rates on car loans or mortgages. Make sure you're getting a competitive rate on any loans before you panic over your charges.

MrC

Normal laws of economics? Maybe you could define them. Most governments pump money into private enterprises for no returns except a place on the board when a minister retires. Private companies are mostly unaccountable, unlike semi-state bodies. If you're stuck for examples, in the UK there were De Lorean and British Leyland (never a nationalised industry but an enormous sink hole for taxpayers' money). Perhaps in Angstland and Bizarro World penguins wear hats and carry machine guns and cannabis is legal. However, in the real world, companies get away with what they can helped greatly by people who bury their heads in the sand, or refrain that 'that's just the way things are'.