AIB to start charging 1c per contactless payment and additional charges.

virginmediapls · 10-03-2020 01:11PM #1

https://www.independent.ie/business/personal-finance/aib-to-charge-fees-for-contactless-payments-and-current-accounts-39031416.html

I don't know why, but this charge really grinds my gears. It's probably negligible over the course of a year - but **** them.

**** them for continuing their policy of exploiting the Irish public by introducing this charge.
**** them for introducing it during a time of financial unrest.
**** them for timing this news for when there is a pandemic and the news will fly under the radar.

I am going to change to another bank despite being with AIB from birth.

**** AIB.

That is all.

silver2020 · 10-03-2020 01:16PM

problem is interest rates are zero - so they either apply negative interest rates to money in your account or make a small charge.

You'll find all the banks will be doing this. At the end of the day, the service has to be paid for and if there is no value for the money sitting in your account for the bank, the money as to come from elsewhere

sonic85 · 10-03-2020 01:27PM

It's so fcuked up that banks can target the poor fcukers (like myself) that dont have a certain level of savings. Doesn't make much sense

Jet Black · 10-03-2020 01:31PM

Use Revolut. Transfer enough each month, they're charging for everytime you use now.

Lu Tze · 10-03-2020 01:39PM

Guess we will all go back to inserting the card and putting in the pin for each transaction, assuming it is only for contactless based on the statement.

Thelonious Monk · 10-03-2020 01:43PM

Jet Black wrote: »

Use Revolut. Transfer enough each month, they're charging for everytime you use now.

Revolut are charging now?

Fireball81 · 10-03-2020 01:45PM

Bank switching rates here are still very poor, about 1% so until that changes, banks will screw people over simply because the majority just suck it up.

PommieBast · 10-03-2020 01:53PM

silver2020 wrote: »

You'll find all the banks will be doing this.

From my experience so far BoI is by far the worst for charges.

manonboard · 10-03-2020 01:55PM

I use revolut for all my banking bar my salary transfer. Which i just send to revolut using auto topup.

No charges.

Feck AIB. They make plenty of money off your money. This is just greed and should be treated as such.

Raconteuse · 10-03-2020 02:00PM

Why do people have a problem with a company charging for its service? I am not being smart - it's a genuine question. It's a business, which provides services so it's charging for them. Same as any business, which is accepted as it should be. Why the exception for banks? "They make plenty of money" doesn't mean some services should be free. That could be said about any company.

suicide_circus · 10-03-2020 02:04PM

how long can revolut go on providing a free service?

SEPT 23 1989 · 10-03-2020 02:09PM

how much has that particular bank cost the taxpayer in the last 40 years

they should have been put out of business years ago

stuff.hunter · 10-03-2020 02:11PM

Raconteuse wrote: »

Why do people have a problem with a company charging for its service? I am not being smart - it's a genuine question. It's a business, which provides services so it's charging for them. Same as any business, which is accepted as it should be. Why the exception for banks? "They make plenty of money" doesn't mean some services should be free. That could be said about any company.

banks dont 'store' your money, they are using them for loans making significant amount of profit on it so charging you extra for card transactions (on the top of quarterly fees) is just too much. I've left this kip called AIB years ago and never looked back

Sierra Oscar · 10-03-2020 02:12PM

Raconteuse wrote: »

Why do people have a problem with a company charging for its service? I am not being smart - it's a genuine question. It's a business, which provides services so it's charging for them. Same as any business, which is accepted as it should be. Why the exception for banks? "They make plenty of money" doesn't mean some services should be free. That could be said about any company.

I'll keep moving so long as there are other cheaper alternatives that allow me keep more of my money in my back pocket.

That's just business as you say.

Ipso · 10-03-2020 02:17PM

Lu Tze wrote: »

Guess we will all go back to inserting the card and putting in the pin for each transaction, assuming it is only for contactless based on the statement.

What do you think it is, the 2010s.

Raconteuse · 10-03-2020 02:30PM

Sierra Oscar wrote: »

I'll keep moving so long as there are other cheaper alternatives that allow me keep more of my money in my back pocket.

That's just business as you say.

Extremely sensible. But it doesn't answer my question - why do people have such a problem with a business charging for a service? You even say you switch for the cheapest service - nothing about the free-est service.

Do people think AIB is the only bank that charges too?

Hungrycol · 10-03-2020 02:31PM

https://www.ccpc.ie/consumers/money/banking/switching-accounts/

Moving banks ^^

Greyfox · 10-03-2020 02:33PM

Raconteuse wrote: »

Why do people have a problem with a company charging for its service?

Because its a sneaky charge that they know they will get away with as for most people changing bank is too much hassle.

Skylinehead · 10-03-2020 02:36PM

Greyfox wrote: »

Because its a sneaky charge that they know they will get away with as for most people changing bank is too much hassle.

How is a well-publicised charge "sneaky"?

stuff.hunter · 10-03-2020 02:37PM

Greyfox wrote: »

Because its a sneaky charge that they know they will get away with as for most people changing bank is too much hassle.

+1
on the top, they're going to sell their atms to euronet so another 2euros charge for atm withdrawals ... great bank aib is

Raconteuse · 10-03-2020 02:43PM

Skylinehead wrote: »

How is a well-publicised charge "sneaky"?

And it's for a service. It's not for nothing.

cal naughton · 10-03-2020 02:45PM

stuff.hunter wrote: »

+1
on the top, they're going to sell their atms to euronet so another 2euros charge for atm withdrawals ... great bank aib is

Link to this important news please

stuff.hunter · 10-03-2020 02:49PM

cal naughton wrote: »

Link to this important news please

https://www.independent.ie/business/aib-sells-500-atms-to-american-cash-management-company-38996855.html

further read:
https://www.independent.ie/business/irish/banks-plan-to-sell-off-a-thousand-of-their-atms-38897781.html

quoted 'People in other countries are charged fees of up to €3 every time they want to withdraw cash from independently operated ATMs.

Chairman of the Consumers' Association Michael Kilcoyne warned the same was likely to happen here.
and
'Some independently operated ATMs in this country already have charges for tourists whose home account is not in euro. The fees are up to €3.95 for withdrawing their funds in euro.'

Alun · 10-03-2020 02:50PM

stuff.hunter wrote: »

+1
on the top, they're going to sell their atms to euronet so another 2euros charge for atm withdrawals ... great bank aib is

Only the ones in shops, shopping centres etc. not the ones in the banks themselves.

cal naughton · 10-03-2020 02:51PM

stuff.hunter wrote: »

https://www.independent.ie/business/aib-sells-500-atms-to-american-cash-management-company-38996855.html

I meant about being charged 2 euro

stuff.hunter · 10-03-2020 02:53PM

cal naughton wrote: »

I meant about being charged 2 euro

2euro was just a hint, it will be most likely more

stuff.hunter · 10-03-2020 02:54PM

Alun wrote: »

Only the ones in shops, shopping centres etc. not the ones in the banks themselves.

...valid point but who is gonna to drive to the branch to use banks own atm?

10-03-2020 02:55PM

Raconteuse wrote: »

And it's for a service. It's not for nothing.

Surely the service is more or less automated though??

Kinda like garages providing air for pumping wheels,pubs providing tap water for non-drinkers,

yes its a service,but the costs are minimal to the business and just strikes as ryanair business model of bleeding money from every little thing possible,

Does anyone honestly believe it will stay at 1c??

Alun · 10-03-2020 02:58PM

stuff.hunter wrote: »

...valid point but who is gonna to drive to the branch to use banks own atm?

If I need cash, which these days is becoming a rarer and rarer thing, I get it out when I happen to be near a banks ATM. Lasts me for months these days. My wife and I only made 10 ATM transactions between us in the last 12 months.

Nermal · 10-03-2020 03:01PM

Why can't they just jack up the charges on the sub-€2.5K untermensch instead?

Alun · 10-03-2020 03:02PM

Deleted User wrote: »

Surely the service is more or less automated though??

Kinda like garages providing air for pumping wheels,pubs providing tap water for non-drinkers,

yes its a service,but the costs are minimal to the business and just strikes as ryanair business model of bleeding money from every little thing possible,

Does anyone honestly believe it will stay at 1c??

Garages have to pay for the equipment for providing air and water, and pay for maintenance and repairs when idiots drive away with the hose still attached or drive over the nozzle.

Similarly banks have to pay for the ATM's and the maintenance thereof, including filling them with cash. Presumably the costs of doing this in third party locations are higher than for the in branch machines.

AIB to start charging 1c per contactless payment and additional charges.

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