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Avoiding Bank Fees & Charges

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    #242
    TheDriver
    Registered Users Posts: 12,393 ✭✭✭✭TheDriver


    TempAc wrote: »
    Wow, I haven't made a pin purchase in over a year. Don't even carry a bank card any more, just tap my phone.

    family shopping would bring me above 50. And my phone doesn't have NFC.
    But I constantly get the "please insert you card" message so i would be caught with the charge if I was paying fees


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    #243
    zbeshek
    Registered Users Posts: 18 ✭zbeshek


    Mayo_fan wrote: »
    I think people need to put on their big boy pants if they think €4 per month is unreasonable. Irish people have an odd sense of entitlement for free banking. This is not the case in most other countries as people know they are dealing with real life which involves paying for things.

    It's about competition, the less banks on market the bigger charges we pay. Look to the UK, no problems with free banking over there, or other big countries.
    For many years there were no fees and many more employees in banks to be paid. Now I do everything online on my own so they should pay to me for doing their job ;)
    It'a a price fixing


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    #244
    Rock Steady Edy
    Registered Users Posts: 341 ✭✭Rock Steady Edy


    Two years ago I opened up a KBC current account for the free banking as was being forced into a fee paying Explorer account with PTSB.

    I ended up not closing the PTSB account as I was able to make it work for me by offsetting the monthly fee with credits from debit card purchases, a Circle K petrol card and Sky, so it rarely cost me more than about €1 a month, and sometimes nothing. So I currently have 2 current accounts but will revert back to using just the PTSB one when I have to close the KBC one. I'll miss the interest from my KBC regular savings though, as well as the ease with which is was possible to call someone by phone with any queries.

    I've always found the smaller banks give the better service at lower cost. I did have a 5 year mortgage with BoI but switched that after 3 years to KBC after the rate became uncompetitive and the switching bonus more than paid for all relevant fees including breakage fees with ongoing savings of €100 per month. Asked BoI if they would match the KBC rate but they wouldn't.


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    #245
    Roberto_gas
    Registered Users Posts: 3,935 ✭✭✭Roberto_gas


    zbeshek wrote: »
    It's about competition, the less banks on market the bigger charges we pay. Look to the UK, no problems with free banking over there, or other big countries.
    For many years there were no fees and many more employees in banks to be paid. Now I do everything online on my own so they should pay to me for doing their job ;)
    It'a a price fixing

    Have a HSBC account in UK since 2010 and have not paid a penny of charge ! Use it a lot for Amazon shopping etc.


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    #246
    sheroman01
    Registered Users Posts: 4,650 ✭✭✭sheroman01


    Just opened up an account with KBC (before the news broke out). Plan was to close AIB and move everything to KBC. Wondering now should I go to the effort of that?...


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    #247
    The Ayatolla
    Registered Users Posts: 4,081 ✭✭✭The Ayatolla


    Just signed up for the Avant Money credit card.
    Efficient enough process!

    Signed up online on Sunday.
    Got an email this morning asking to upload docs (Passport / 1x Payslip / Proof of address). All worked using PDFs / photo of password using my camera phone.

    Got a 3min phone call Monday afternoon to say all setup and card be posted out in 5 days.
    €30 bonus for joining Avant.

    Freepost Letter sent off to KBC to cancel credit card.


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    #248
    Islander13
    Registered Users Posts: 1,218 ✭✭✭Islander13


    sheroman01 wrote: »
    Just opened up an account with KBC (before the news broke out). Plan was to close AIB and move everything to KBC. Wondering now should I go to the effort of that?...

    Stick with AIB or go to somewhere that'll still be here. The pox of all the account changes, figuring out the online banking etc. just aint worth it if you're gonna be lumped back into BOI


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    #249
    Yyhhuuu
    Registered Users Posts: 798 ✭✭✭Yyhhuuu


    The Ayatolla wrote: »
    Just signed up for the Avant Money credit card.
    Efficient enough process!

    Signed up online on Sunday.
    Got an email this morning asking to upload docs (Passport / 1x Payslip / Proof of address). All worked using PDFs / photo of password using my camera phone.

    Got a 3min phone call Monday afternoon to say all setup and card be posted out in 5 days.
    €30 bonus for joining Avant.

    Freepost Letter sent off to KBC to cancel credit card.

    It took me 3 excruciating weeks to get to that stage dealing with Avant credit card application, and I have excellent credit history and zero debt having just closed my BOI Card with Zero balance. I had to keep resubmitting same documents, then post them, then they said they didn't receive post. A good while latr they acknowledged receipt of post. It was not easy.


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    #250
    jimmycrackcorm
    Registered Users Posts: 14,329 ✭✭✭✭jimmycrackcorm


    TheDriver wrote: »
    family shopping would bring me above 50. And my phone doesn't have NFC.
    But I constantly get the "please insert you card" message so i would be caught with the charge if I was paying fees

    Better off getting a cheap phone with NFC. You can go above 50 with the phone tap as it is more secure than cards. You have to unlock the phone to use nfc to pay, which means using a fingerprint is the most practical method.


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    #251
    Sheep Shagger
    Moderators, Business & Finance Moderators Posts: 6,217 Mod ✭✭✭✭Sheep Shagger


    jimmycrackcorm wrote: »
    Better off getting a cheap phone with NFC. You can go above 50 with the phone tap as it is more secure than cards. You have to unlock the phone to use nfc to pay, which means using a fingerprint is the most practical method.

    I don't have to unlock my phone to tap it, just has to be awake. Have to unlock the card/wallet on my fitbit to tap it though.


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    #252
    hold my beer
    Registered Users Posts: 1,665 ✭✭✭hold my beer


    Sheep Shagger wrote: »
    I don't have to unlock my phone to tap it, just has to be awake. Have to unlock the card/wallet on my fitbit to tap it though.


    So if your phone was stolen anyone could tap it? Fairly sure on my phone (Android) you have to unlock the phone.


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    #253
    Sheep Shagger
    Moderators, Business & Finance Moderators Posts: 6,217 Mod ✭✭✭✭Sheep Shagger


    hold my beer wrote: »
    So if your phone was stolen anyone could tap it? Fairly sure on my phone (Android) you have to unlock the phone.

    If you knew it had a card attached to it - yeah you could (is a Samsung, not sure if that was the default or I set it up it up like that).


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    #254
    hold my beer
    Registered Users Posts: 1,665 ✭✭✭hold my beer


    Sheep Shagger wrote: »
    If you knew it had a card attached to it - yeah you could (is a Samsung, not sure if that was the default or I set it up it up like that).


    This page says you can do it without unlocking up to €50


    https://support.google.com/pay/answer/7644132?co=GENIE.Platform%3DAndroid&hl=en


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    #255
    The J Stands for Jay
    Registered Users Posts: 5,651 ✭✭✭The J Stands for Jay


    jefferson73 wrote: »
    With regard to doing the country a dissservice

    Are they (Monese) covered by the central banks (DGS) Deposit Gurantee Scheme?

    I apologise to bonkers.ie No idea why I thought Monese were a bank.

    Now when KBC go, we'll have to decide which is the least worse out of the credit union or AIB.


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    #256
    The J Stands for Jay
    Registered Users Posts: 5,651 ✭✭✭The J Stands for Jay


    TheDriver wrote: »
    I could have a hundred pin purchases a month so it adds up for me.

    I'd doubt that I hit that many transactions a month together with my wife. I couldn't imagine that many pin transactions. It's more than Ive done in the last 18 months (probably even the last 2 years).


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    #257
    The J Stands for Jay
    Registered Users Posts: 5,651 ✭✭✭The J Stands for Jay


    feargantae wrote: »
    It's not offered by my credit union yet. I'd say that's the case for a lot of us too

    Yeah, I'd have to drive 2 towns over to open the account in person.


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    #258
    feargantae
    Registered Users Posts: 536 ✭✭✭feargantae


    TheDriver wrote: »
    family shopping would bring me above 50. And my phone doesn't have NFC.
    But I constantly get the "please insert you card" message so i would be caught with the charge if I was paying fees

    If you're paying with your (unlocked) phone then the €50 limit doesn't apply at most retailers. All the big retailers support full Contactless, Aldi, Dunnes, Tesco, Lidl, Penneys, H&M, TKMaxx and many more. If you see the Google/Apple Pay logos then you know you can tap over €50. But even at that it'll work in most places. I'm someone who only uses my phone to pay, i don't even carry my wallet with me and I've yet to run into issues! Touch wood of course!!

    As an aside, I'd be curious to know of any major retailers who don't accept €50+ via XYZ Pay


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    #259
    The J Stands for Jay
    Registered Users Posts: 5,651 ✭✭✭The J Stands for Jay


    feargantae wrote: »
    If you're paying with your (unlocked) phone then the €50 limit doesn't apply at most retailers. All the big retailers support full Contactless, Aldi, Dunnes, Tesco, Lidl, Penneys, H&M, TKMaxx and many more. If you see the Google/Apple Pay logos then you know you can tap over €50. But even at that it'll work in most places. I'm someone who only uses my phone to pay, i don't even carry my wallet with me and I've yet to run into issues! Touch wood of course!!

    As an aside, I'd be curious to know of any major retailers who don't accept €50+ via XYZ Pay

    Tesco were capping it at €50, pre Covid. They've upped it now, but still have a limit, the luddites.


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    #260
    corcaigh07
    Registered Users Posts: 6,248 ✭✭✭corcaigh07


    Tesco in my limited experiences have capped their terminals at 300 euro for Google Pay and Apple Pay.


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    #261
    Gooser14
    Registered Users Posts: 1,551 ✭✭✭Gooser14


    The Ayatolla wrote:
    Signed up online on Sunday. Got an email this morning asking to upload docs (Passport / 1x Payslip / Proof of address). All worked using PDFs / photo of password using my camera phone.


    Is a passport the only photo ID accepted?


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    #262
    TempAc
    Registered Users Posts: 84 ✭✭TempAc


    Sheep Shagger wrote: »
    If you knew it had a card attached to it - yeah you could (is a Samsung, not sure if that was the default or I set it up it up like that).

    Only up to 50 euro, above that it needs to be unlocked. Same as debit card.


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    #263
    Sheep Shagger
    Moderators, Business & Finance Moderators Posts: 6,217 Mod ✭✭✭✭Sheep Shagger


    TempAc wrote: »
    Only up to 50 euro, above that it needs to be unlocked. Same as debit card.

    Didn't know that thanks, vast majority of transactions are under €50 at shops at the moment.


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    #264
    The Ayatolla
    Registered Users Posts: 4,081 ✭✭✭The Ayatolla


    Gooser14 wrote: »
    Is a passport the only photo ID accepted?

    Drivers License too I believe


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    #265
    Sheep Shagger
    Moderators, Business & Finance Moderators Posts: 6,217 Mod ✭✭✭✭Sheep Shagger


    Interesting...using more than one provider could work for some.

    https://www.irishtimes.com/business/personal-finance/revolut-for-payments-an-post-for-savings-how-we-might-bank-in-the-future-1.4542849?mode=amp


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    #266
    The J Stands for Jay
    Registered Users Posts: 5,651 ✭✭✭The J Stands for Jay


    Sheep Shagger wrote: »
    Interesting...using more than one provider could work for some.

    https://www.irishtimes.com/business/personal-finance/revolut-for-payments-an-post-for-savings-how-we-might-bank-in-the-future-1.4542849?mode=amp

    Are there actually people out there who do everything with one bank? Doesn't everyone already have different products with different providers?


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    #267
    Creamy Goodness
    Registered Users Posts: 26,556 ✭✭✭✭Creamy Goodness


    McGaggs wrote: »
    Are there actually people out there who do everything with one bank? Doesn't everyone already have different products with different providers?

    Yeah I do but it’s only because I qualify for free products, I can totally see people using only one if they don’t.

    KBC for everyday
    KBC for savings
    KBC for credit card (thinking of moving to AIB Platinum).
    AIB for mortgage
    Revolut for fx spend only


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    #268
    Hibernicis
    Registered Users Posts: 1,427 ✭✭✭Hibernicis


    McGaggs wrote: »
    Are there actually people out there who do everything with one bank? Doesn't everyone already have different products with different providers?

    I use Ulster for all my day to day banking (Credit card, current account and savings/deposit account). Find the overall service more than adequate and although not free the cost is acceptable** given a largish number of transactions and the facilities and app functionality. I use other banks etc. also but only for infrequent savings/deposit transactions.

    ** I maintain a €3,000 balance in my c/a and so only pay €24pa in fees.


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    #269
    dulpit
    Registered Users Posts: 10,267 ✭✭✭✭dulpit


    Hibernicis wrote: »
    I use Ulster for all my day to day banking (Credit card, current account and savings/deposit account). Find the overall service more than adequate and although not free the cost is acceptable** given a largish number of transactions and the facilities and app functionality. I use other banks etc. also but only for infrequent savings/deposit transactions.

    ** I maintain a €3,000 balance in my c/a and so only pay €24pa in fees.

    The fact that you pay €24 for the privilege of not paying other fees and as a result need to keep €3,000 in a current account rather than savings is mental to me.


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    #270
    darconio
    Registered Users Posts: 932 ✭✭✭darconio


    I went today to close my UB account.I called the CS and they advised that I'd need a 0 balance in order to close the account, so I transferred last night the 3000 euros I was keeping in the account to avoid additional charges.
    I went in today and those clowns had the guts to charge me 2.22€ for the account being open without the 3000 euro for the whole morning...
    I had 2.25 in my pocket, I made sure to claim my 3 cents change... ba$stards


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    #271
    Roberto_gas
    Registered Users Posts: 3,935 ✭✭✭Roberto_gas


    darconio wrote: »
    I went today to close my UB account.I called the CS and they advised that I'd need a 0 balance in order to close the account, so I transferred last night the 3000 euros I was keeping in the account to avoid additional charges.
    I went in today and those clowns had the guts to charge me 2.22€ for the account being open without the 3000 euro for the whole morning...
    I had 2.25 in my pocket, I made sure to claim my 3 cents change... ba$stards

    Lol thats why i generally ask them if there wud be charges..AIB said to me in branch u can make it zero now and i will close it. I xferred remaining sum to my knc ac using mobile banking in front of him and that was it !


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