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Avoiding Bank Fees & Charges

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    #152
    Nigel Fairservice
    Registered Users, Moderators, Regional Abroad Moderators Posts: 2,197 Mod ✭✭✭✭Nigel Fairservice


    Dudda wrote: »
    The only real reason I need a non virtual account is the very rare time I get a cheque. Use Revolut for everything. Got one cheque from VHI recently when like other health insurance companies they gave people back money due to covid and lack of claims. Only one I can think of in the last year.

    Do you have to accept a cheque? A lot of shops don't so can you refuse and ask companies to lodge to your account or is it not worth the hassle?

    You can request a bank transfer from VHI. I got my VHI refund into my account.


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    #153
    beggars_bush
    Registered Users Posts: 4,372 ✭✭✭beggars_bush


    Dudda wrote: »
    The only real reason I need a non virtual account is the very rare time I get a cheque. Use Revolut for everything. Got one cheque from VHI recently when like other health insurance companies they gave people back money due to covid and lack of claims. Only one I can think of in the last year.

    Do you have to accept a cheque? A lot of shops don't so can you refuse and ask companies to lodge to your account or is it not worth the hassle?

    Open a credit union a/c. No fees


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    #154
    pogsick
    Registered Users Posts: 367 ✭✭pogsick


    beggars_bush wrote: »
    Open a credit union a/c. No fees

    First south CU in Cork have started charging fees so I assume other CUs are following suit if they haven’t already


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    #155
    loyatemu
    Registered Users Posts: 14,808 ✭✭✭✭loyatemu


    Dudda wrote: »
    The only real reason I need a non virtual account is the very rare time I get a cheque. Use Revolut for everything. Got one cheque from VHI recently when like other health insurance companies they gave people back money due to covid and lack of claims. Only one I can think of in the last year.

    Do you have to accept a cheque? A lot of shops don't so can you refuse and ask companies to lodge to your account or is it not worth the hassle?

    as others have previously mentioned, a savings account is generally free and you can lodge cheques to it (though without a debit card you may not be able to use the lodgement machines).


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    #156
    inel
    Registered Users Posts: 178 ✭✭inel


    So if you cancel your current account with BOI, can you keep your savings account open without the need to pay the new fees? Do you keep the web access to the account?
    What happens with the monthly direct debit to the savings account?
    Does anybody know?


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    #157
    loyatemu
    Registered Users Posts: 14,808 ✭✭✭✭loyatemu


    inel wrote: »
    So if you cancel your current account with BOI, can you keep your savings account open without the need to pay the new fees? Do you keep the web access to the account?
    What happens with the monthly direct debit to the savings account?
    Does anybody know?

    don't know about BOI, but I previously had a deposit/savings account with AIB when I had no current account. Web access was still available but as I had no devit card I couldn't use a card reader and had a "code card" for certain features. I'm not sure if that's still available.

    The DD comes from the current account, so just transfer it when you move the current.


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    #158
    Ten Pin
    Registered Users Posts: 2,816 ✭✭✭Ten Pin


    So if you cancel your current account with BOI, can you keep your savings account open without the need to pay the new fees? Do you keep the web access to the account?

    Web access still available available for savings account but it's practically useless, it may allow online transfers in/out of the account. AFAIK fees only apply to current accounts so if you closed it and retain the savings account, there aren't any fees or charges.
    What happens with the monthly direct debit to the savings account?

    Do you mean standing order for lodging into the savings account?


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    #159
    inel
    Registered Users Posts: 178 ✭✭inel


    Ten Pin wrote: »
    Do you mean standing order for lodging into the savings account?


    Yes, sorry, I basically meant that. It currently seems to be set up as a direct debit from the BOI current account to the savings one.


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    #160
    Sheep Shagger
    Moderators, Business & Finance Moderators Posts: 6,255 Mod ✭✭✭✭Sheep Shagger


    inel wrote: »
    Yes, sorry, I basically meant that. It currently seems to be set up as a direct debit from the BOI current account to the savings one.

    What is your savings account at BOi called as not all will accept direct debits. If the account that funds that savings account is closed nothing will happen.

    Banking 365 continues as normal even for just a savings account


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    #161
    NinjaTruncs
    Registered Users Posts: 2,468 ✭✭✭NinjaTruncs


    inel wrote: »
    So if you cancel your current account with BOI, can you keep your savings account open without the need to pay the new fees? Do you keep the web access to the account?
    What happens with the monthly direct debit to the savings account?
    Does anybody know?

    I have a savings account with BOI, I don't have a current account.

    I have 365 access to the savings account and have a regular standing order going into the account.

    No fees to-date.

    4.3kWp South facing PV System. South Dublin



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    #162
    caycro
    Registered Users Posts: 261 ✭✭caycro


    NinjaTruncs wrote: »
    I have a savings account with BOI, I don't have a current account.

    I have 365 access to the savings account and have a regular standing order going into the account.

    No fees to-date.

    I have the same....but then I opened it in 1977 😬


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    #163
    Buffman
    Registered Users Posts: 2,770 ✭✭✭Buffman


    inel wrote: »
    So if you cancel your current account with BOI, can you keep your savings account open without the need to pay the new fees?
    Yes

    inel wrote: »
    Do you keep the web access to the account?
    Yes
    inel wrote: »
    What happens with the monthly direct debit to the savings account?
    It will go with current account and your savings will just stay the same. (assuming it's CA feeding your SA)


    FYI you can manually pay into and out of the savings account with normal bank transfer, and also have a savings account ATM card that will only work in BOI ATMs. (It's basically an old fashioned bank card with no chip.)

    FYI, if you move to a 'smart' meter electricity plan, you CAN'T move back to a non-smart plan.

    You don't have to take a 'smart' meter if you don't want one, opt-out is available.

    Buy drinks in 3L or bigger plastic bottles or glass bottles to avoid the DRS fee.



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    #164
    Hibernicis
    Registered Users Posts: 1,443 ✭✭✭Hibernicis


    inel wrote: »
    Yes, sorry, I basically meant that. It currently seems to be set up as a direct debit from the BOI current account to the savings one.

    Something odd there. What type of saving account do you have, is it a BOI goal saver or a BOI monthly saver ?


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    #165
    inel
    Registered Users Posts: 178 ✭✭inel


    Sheep Shagger wrote: »
    What is your savings account at BOi called as not all will accept direct debits. If the account that funds that savings account is closed nothing will happen.

    Banking 365 continues as normal even for just a savings account
    Hibernicis wrote: »
    Something odd there. What type of saving account do you have, is it a BOI goal saver or a BOI monthly saver ?




    It is a Goalsaver account. Direct debit is paid from the current account to this one.


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    #166
    Ten Pin
    Registered Users Posts: 2,816 ✭✭✭Ten Pin


    I managed to get it set up anyway. Can't remember if I had any issues at the time as it was a few years ago.

    I don't foresee SCA being a problem as it's not an issue with any of the other cards I have on Curve that have already implemented SCA.

    Edit: It might have been that EBS cut off the last character of the code. I seem to recall having that issue adding one card but don't remember which one. I know that I contacted Curve customer support, giving them the portion of the code I had, and they gave me the missing last character.

    It's more to do with the app compatibility, the EBS SCA app doesn't work on Android <6. The login app works on Android >4, their FAQs indicate that they only support card SCA via the app.

    Is Curve a way around that? ie will Curve transaction SCA suffice or will EBS SCA also be needed when using Curve with EBS card (after initial verification)?


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    #167
    darconio
    Registered Users Posts: 932 ✭✭✭darconio


    Heads up in case you are planning a switch to KBC (like I did FFS):

    https://www.irishtimes.com/business/financial-services/kbc-plots-irish-exit-with-loans-sale-to-bank-of-ireland-1.4539135


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    #168
    dulpit
    Registered Users Posts: 10,404 ✭✭✭✭dulpit


    darconio wrote: »
    Heads up in case you are planning a switch to KBC (like I did FFS):

    https://www.irishtimes.com/business/financial-services/kbc-plots-irish-exit-with-loans-sale-to-bank-of-ireland-1.4539135

    So from this it would appear options are:
    1. EBS, which by all accounts is a terrible choice with online offerings/etc
    2. N26 or Revolut (but obvious caveats of no branch network/etc)
    3. Pay AIB, Bank of Ireland or PTSB

    That's it, right?


  • Options
    #169
    jdon72
    Registered Users Posts: 244 ✭✭jdon72


    dulpit wrote: »
    So from this it would appear options are:
    1. EBS, which by all accounts is a terrible choice with online offerings/etc
    2. N26 or Revolut (but obvious caveats of no branch network/etc)
    3. Pay AIB, Bank of Ireland or PTSB

    That's it, right?

    I'm currently using Revolut with a free credit union account for any money deposits / withdrawals I need

    An Post is another option, however they're a lot less appealing after deciding to get rid of their cashback.


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    #170
    Nigel Fairservice
    Registered Users, Moderators, Regional Abroad Moderators Posts: 2,197 Mod ✭✭✭✭Nigel Fairservice


    dulpit wrote: »
    So from this it would appear options are:
    1. EBS, which by all accounts is a terrible choice with online offerings/etc
    2. N26 or Revolut (but obvious caveats of no branch network/etc)
    3. Pay AIB, Bank of Ireland or PTSB

    That's it, right?

    Some credit unions are now offering current accounts as well. I think my local credit union current account is €2 a month.


  • Options
    #171
    The J Stands for Jay
    Registered Users Posts: 5,674 ✭✭✭The J Stands for Jay


    dulpit wrote: »
    So from this it would appear options are:
    1. EBS, which by all accounts is a terrible choice with online offerings/etc
    2. N26 or Revolut (but obvious caveats of no branch network/etc)
    3. Pay AIB, Bank of Ireland or PTSB

    That's it, right?

    I have a joint account with KBC. I'm not aware of any of the online banks that offer joint accounts.

    EBS are out, as the lack of functionality makes them unsuitable.

    BoI, from thread here, complaints on Twitter and newspaper articles, are a shambles and I'll not be going there.

    Previously had a joint account with PTSB, and they would screw things up every so often, and the solution always had them asking me to call into a branch. Not going back to that.

    Looks like we're stuck with AIB.


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    #172
    JTMan
    Registered Users Posts: 5,538 ✭✭✭JTMan


    dulpit wrote: »
    So from this it would appear options are:
    1. EBS, which by all accounts is a terrible choice with online offerings/etc
    2. N26 or Revolut (but obvious caveats of no branch network/etc)
    3. Pay AIB, Bank of Ireland or PTSB

    That's it, right?

    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.


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    #173
    xckjoo
    Registered Users Posts: 3,352 ✭✭✭xckjoo


    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.
    Good summary. Just what I needed.



    I'm thinking of 5. but with my local Credit Union instead of EBS. Would the way to go be to get wages into the CU account and then transfer out to Revolut or N26 as required? There's no advantage to getting wages paid into my N26 account is there?


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    #174
    jdon72
    Registered Users Posts: 244 ✭✭jdon72


    xckjoo wrote: »
    Good summary. Just what I needed.



    I'm thinking of 5. but with my local Credit Union instead of EBS. Would the way to go be to get wages into the CU account and then transfer out to Revolut or N26 as required? There's no advantage to getting wages paid into my N26 account is there?

    If your credit union account has an IBAN, you should be able to.


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    #175
    hold my beer
    Registered Users Posts: 1,708 ✭✭✭hold my beer


    McGaggs wrote: »
    I have a joint account with KBC. I'm not aware of any of the online banks that offer joint accounts.

    EBS are out, as the lack of functionality makes them unsuitable.

    BoI, from thread here, complaints on Twitter and newspaper articles, are a shambles and I'll not be going there.

    Previously had a joint account with PTSB, and they would screw things up every so often, and the solution always had them asking me to call into a branch. Not going back to that.

    Looks like we're stuck with AIB.


    BOI are far from a shambles, been with them 20 years and absolutely no issues.


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    #176
    jimmycrackcorm
    Registered Users Posts: 14,331 ✭✭✭✭jimmycrackcorm


    hold my beer wrote: »
    BOI are far from a shambles, been with them 20 years and absolutely no issues.

    They only finally added google pay support a few months ago. Hardly leading edge.


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    #177
    hold my beer
    Registered Users Posts: 1,708 ✭✭✭hold my beer


    jimmycrackcorm wrote: »
    They only finally added google pay support a few months ago. Hardly leading edge.


    Well that's completely different than being a shambles.


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    #178
    TempAc
    Registered Users Posts: 84 ✭✭TempAc


    xckjoo wrote: »
    Good summary. Just what I needed.



    I'm thinking of 5. but with my local Credit Union instead of EBS. Would the way to go be to get wages into the CU account and then transfer out to Revolut or N26 as required? There's no advantage to getting wages paid into my N26 account is there?
    Or you could just have your wages paid to N26 and transfer to credit union where neccessary or if you mean if you need to make cash lodgements just make them to the credit union account and transfer them to N26.


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    #179
    Cameraman
    Registered Users Posts: 478 ✭✭Cameraman


    hold my beer wrote: »
    BOI are far from a shambles, been with them 20 years and absolutely no issues.

    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.


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    #180
    xckjoo
    Registered Users Posts: 3,352 ✭✭✭xckjoo


    TempAc wrote: »
    Or you could just have your wages paid to N26 and transfer to credit union where neccessary or if you mean if you need to make cash lodgements just make them to the credit union account and transfer them to N26.
    It's lodged straight into my account so that's not an issue. I guess I could skip the CU and just use N26, but I prefer the idea of my wages being lodged somewhere locally. I might use it as a savings and bills account and use N26 as a current.


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


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    #181
    Black_Knight
    Moderators Posts: 12,369 ✭✭✭✭Black_Knight


    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.


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