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Free banking rules in AIB changed

average_runner

To avail of free banking in AIB, you need to keep a balance of 2,500 in credit for the full quarter!!

Time to move banks

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quaalude

wmpdd3 wrote: »

Arranged for the current account to be closed on friday, everyone in the queue was closing their accoint too. Lady just asked for a reason 'for the comments box', i said 'expensive tranaction charges'. She asked did i mean end of free banking and i said no, if there was a reasonable flat rate for electronic transactions i would have stayed. All she said was 'interesting'.

I closed my a/c with AIB in the past couple of weeks.
I've been with them since 1993.
Of all the people I dealt with, not one asked me a) why I was closing my account or b) would I consider staying.

Sir123

It would be interesting to see how many people did close their account(s) by Friday. These fees/ free banking rules are outrageous. We should not have to put up with this.

In the UK they pay no fees and have free banking (as long as their account stays in credit) as to what I recall. Us Irish need to give out like other nations do in these situations!!!!

chris85

Sir123 wrote: »

It would be interesting to see how many people did close their account(s) by Friday. These fees/ free banking rules are outrageous. We should not have to put up with this.

In the UK they pay no fees and have free banking (as long as their account stays in credit) as to what I recall. Us Irish need to give out like other nations do in these situations!!!!

The debate is getting more heated over in the UK and could see more banks going to charge for current accounts.

chasm

Sir123 wrote: »

It would be interesting to see how many people did close their account(s) by Friday. These fees/ free banking rules are outrageous. We should not have to put up with this.

In the UK they pay no fees and have free banking (as long as their account stays in credit) as to what I recall. Us Irish need to give out like other nations do in these situations!!!!

I would have been one of those who closed their a/c on Friday but i am still waiting for my direct debits to transfer. UB phoned me last Thursday, after i emailed them to ask exactly what the status of this transfer is; was told they were waiting on a reply from the switcher team. . . . I'm still waiting. . .

wmpdd3

Us Irish need to give out like other nations do in these situations!!!!

From a business point of view, the most effective thing you can do is leave.
Also it has added to the workload of branches and phone lines at a time when annual leave is just starting.

du Maurier

Apart from the usual billed Direct Debits from companies etc that need to be transferred from one bank to another i.e. AIB to Ulster Bank, can a loan be transferred over? A loan that is being paid via a DD transfer weekly?

BuffyBot

If it's a direct debit, then it's included in the switch.

If it's a standing order, you'll have to re-set it up.

du Maurier

BuffyBot wrote: »

If it's a direct debit, then it's included in the switch.

If it's a standing order, you'll have to re-set it up.

Thanks for the info. I called them and they did confirm that.

Sir123

wmpdd3 wrote: »

From a business point of view, the most effective thing you can do is leave.
Also it has added to the workload of branches and phone lines at a time when annual leave is just starting.

I understand, but what really annoys me is that we as taxpayers payed to bail out these banks. Now they turn around and want more money off us via introducing new fees and eliminating free banking. All I can say is that this country is becoming a bigger disgrace.

wmpdd3

I have no problem with the banks charging a fair price for a service, I feel the charges for electronic transactions are extortionate.

28c for a electronic credit!!

If there was a flat rate fee like €3 per quarter if you only use electronic transactions, I'd consider it.

chrisdus

wmpdd3 wrote: »

I have no problem with the banks charging a fair price for a service, I feel the charges for electronic transactions are extortionate.

28c for a electronic credit!!

If there was a flat rate fee like €3 per quarter if you only use electronic transactions, I'd consider it.

I was charged 31 euro over the last 3 months by BOI, absolutely crazy! Thats over 120 a year! In Holland you pay just for the cost of the actual card (1,5 or 2 euro per month).

Which bank in Ireland is the cheapest atm? I am going to complain and switch my account as soon as I have a better option.

Sir123

chrisdus wrote: »

I was charged 31 euro over the last 3 months by BOI, absolutely crazy! Thats over 120 a year! In Holland you pay just for the cost of the actual card (1,5 or 2 euro per month).

Which bank in Ireland is the cheapest atm? I am going to complain and switch my account as soon as I have a better option.

I'd say Ulster Bank is your best bet. "Free Banking" is still in operation with them. Plus you'll get a Visa Debit card as opposed to a laser.

BuffyBot

Ulster is currently cheapest as they have fee free banking.

wmpdd3

chrisdus wrote: »

I was charged 31 euro over the last 3 months by BOI, absolutely crazy! Thats over 120 a year! In Holland you pay just for the cost of the actual card (1,5 or 2 euro per month).

Which bank in Ireland is the cheapest atm? I am going to complain and switch my account as soon as I have a better option.

With charges of that much you must have had €3000 going in per quarter, if you had made 6 transfers online, you would have avoided fees, but yeah Ulster Bank have no fees at the minute.

Looking at my other half's statement, BOI charge 28c per credit / debit, even more than AIB. He never uses his account, credit in every week, atm withdrawal every week. Hedidnt have to pay the €2 because he has a student account.

BOI also have flat fee but its about 12 quid per quarter, still better than €30.

My fees with Aib last 1/4 were €42!! no way I'd be paying that.

Mimikyu

This post has been deleted.

00sully

my turn around has been around a week - app form in with documents, returned in post and got a text today saying my debit card is on the way. I can't remember if I asked for a complete switch or just a new account though.

either way, so long AIB!

quaalude

Captain Morgan wrote: »

This post has been deleted.

I brought all my docs in to the branch in person, my account was opened on the spot (took about half an hour though), and I got the Visa debit card in the post like a week later.

Cyrus

Im thinking of moving to BOI, im a pretty heavy online user, transferring funds between my wife and I, into a joint account, into and from a savings account. My AIB fees are going to be circa €40 a quarter.

Am i right in assuming the following:

If you use your debit card and use online banking a bit, BOI have free banking (like aib used to)

If i keep my aib visa i can keep my online banking access to view a joint account that i have with a family member and my mortgage account

cookie1977

Cyrus wrote: »

Im thinking of moving to BOI, im a pretty heavy online user, transferring funds between my wife and I, into a joint account, into and from a savings account. My AIB fees are going to be circa €40 a quarter.

Am i right in assuming the following:

If you use your debit card and use online banking a bit, BOI have free banking (like aib used to)

If i keep my aib visa i can keep my online banking access to view a joint account that i have with a family member and my mortgage account

Simpliest way for free banking is to have 3000 moving into your account in a quarter and transfer money 9 times online or on phone every quarter. That will get you free fees.

Cyrus

cookie1977 wrote: »

Simpliest way for free banking is to have 3000 moving into your account in a quarter and transfer money 9 times online or on phone every quarter. That will get you free fees.

from BOI?

So if my salary is coming in to that account, free banking?

Does it need a minimum balance or just going in and out?

cookie1977

Cyrus wrote: »

from BOI?

So if my salary is coming in to that account, free banking?

Does it need a minimum balance or just going in and out?

Yes for BOI. Salary counts AND 9 transfers of money per quarter (excl standing orders and direct debits)

OR

Maintain always 3000 per quarter in your account

Both the above will get you free fees. See here:
http://personalbanking.bankofireland.com/current-accounts/standard-current-account

lubie76

Me and the oh have current accounts and a savings account with AIB. The only thing I really liked about them was the handy online banking but not willing to pay electronic transfer fees. I
Is UB or BOI's online banking as good as AIB's because I know PTSB is useless from past experience.

IQO

chrisdus wrote: »

I was charged 31 euro over the last 3 months by BOI, absolutely crazy! Thats over 120 a year! In Holland you pay just for the cost of the actual card (1,5 or 2 euro per month).

Same here; also from The Netherlands. I have an account at ING there and with the debit card they provide I can use any ATM within the eurozone free of charge. Cheaper than using my AIB laser card at an AIB ATM (!). When banking at AIB it would be cheaper to make a monthly transfer of my complete salary to my Dutch account. With free SEPA international payments at ING (standing orders are even an option) I could even pay my landlord free of charge from The Netherlands instead. When instructed before 4PM its on the Irish account next day early morning. Of course this would be too much hassle, so Im switching to Ulster instead. Received my VISA debit card last week after visiting their George's Quay branch 2 weeks ago. Now waiting to receive my anytime banking card reader. Once that has been done; I will leave AIB (as I presume many others will do).

JTMan

Good to see that you are using a different bank, inside the eurozone, for your day-to-day current account banking requirements.

Real competition will begin, when the masses, over the coming years, start moving to internet based pan-European current accounts.

quaalude

lubie76 wrote: »

Me and the oh have current accounts and a savings account with AIB. The only thing I really liked about them was the handy online banking but not willing to pay electronic transfer fees. I
Is UB or BOI's online banking as good as AIB's because I know PTSB is useless from past experience.

Ulster Bank's online banking is fine - as good as AIB in my opinion.
They send you out a little electronic thingy that looks like a calculator - this is instead of the Code Card that you need for AIB when making new payees etc.

Mimikyu

This post has been deleted.

quaalude

Captain Morgan wrote: »

This post has been deleted.

Changing bank for me was easy from the Ulster Bank end. Any difficulties I had were from AIB - not stamping things properly, closing my account when it still had money still in it etc. etc.

Captain Morgan - give the Ulster Bank branch where your account will be a phone call to check on its status - I found them very helpful in my local branch when I called with queries.

ct5amr2ig1nfhp

I went to close my account this week and the lovely lady in AIB told me that Ulster was bringing in charges shortly. :rolleyes:
She also said that if I keep my balance at zero, I won't be charged Transaction Fees. I'm sure it's been asked on the thread - is this true? I don't see it mentioned here.

Sir123

BearNecessities wrote: »

I went to close my account this week and the lovely lady in AIB told me that Ulster was bringing in charges shortly. :rolleyes:
She also said that if I keep my balance at zero, I won't be charged Transaction Fees. I'm sure it's been asked on the thread - is this true? I don't see it mentioned here.

I'm pretty sure this is a rumour started by AIB. Anyone know for sure?

ct5amr2ig1nfhp

Had it confirmed today by AIB HO that you will not be charge any acc/trans fees if you have your account balance at zero. Going to get it in writing next week.