Sick of BOI (their technology sucks). What's a better alternative? Revolut? AIB?

I opened a Revolut account to see what it was like and now use that mainly, its brilliant for on line purchasing (changes your euro to stg etc without you having to do anything, with no mad fes as far as I can see) Every card purchase you're immediately notified on your phone, I've had no probs for over a year now and frankly don't know why I haven't left Ulster Bank at this stage.

irelandjnr wrote: »

stg?

Not really a question now is it? What are you asking?

AIB are, by far, the most advanced technologically, and always have been.

Now, they did outsource a lot of their IT a few years back (circa 2015), so things have slowed down recently, but they were so far ahead of the competition (who were all pretty much outsourced to begin with), that they remain the most advanced.

BOI, as you have realised, are the worst. They were never modern to begin with, but began outsourcing in a big way about 15-20 years ago, so haven't really modernised anything since. Their recent spending of €1.4 Billion on a $hite app and a few PSD2 APIs is testament to that. Yes, you read that figure right - €1.4 billion*. It's why BOI customers pay a hell of a lot more over their life (a BOI mortgage customer will typically pay tens of thousands, if not hundreds of thousands more over the life of a mortgage than an AIB customer for example). But, BOI customers never seem to want to shop around (you seem to be the exception!), so BOI get away with it!

While I know that PTSB IT capabilities are also $hite, I haven't use them in a long time, so can't say exactly what state their app/online banking etc is in. But, as a bank they still haven't recovered since the 08 crash, so can't imagine much investment any time soon. Similarly with Ulster (and they look to be withdrawing from Ireland anyway, so wouldn't bother with them).

The only other bank I would consider would be KBC. Their app and internet banking is a pretty "simple", but modern offering (they recently rolled out e-statements - about 14 odd years after AIB!). They are at least trying to improve their IT offering (seem to be hiring a lot recently and overhauling) and are at least competitively priced (they are gunning for 1st place among the 2nd tier banks).

As for revolut, it's handy for currency conversion and shopping on amazon.co.uk etc and I also like that is is easy to transfer money between friends/colleagues. But it's not a replacement for a bank account (it's a "payment tool"). Similarly, while N26 is an actual bank account, that is all that is currently on offer - i.e. no overdraft, savings, loans or credit card etc

*well, approximately - they are keeping the exact costs a secret, but let's just say it could go down in history as one of the worst IT projects in the world

daheff wrote: »

Why does your bank have to be the credit card provider?

Because it is handy. Having your primary accounts, loans, mortgages and credit cards all on the one website/app makes life a lot easier.

I have 2 current accounts (including my main one), 1 savings account, 1 deposit account, mortgage and credit card all with AIB. having all the figures in the one place and and being able to move funds around with the click of a button makes managing my finances easier. Also, it means a I have a substantial (and positive) history with AIB, which may prove beneficial in the future.

I have 1 current account and 1 savings account with KBC (but really just use it for regular savings)

I have a Revolut for internet shopping in foreign currency and also for "group pay" (i.e. splitting a restaurant bill, hotel booking etc ) and an N26 account which I don't really use (signed up as a preplacement for my rabo account and use as a "sneaky savings account" - standing order for €100 per month on payday to the account that I don't count in my budget and just use to treat myself every few years with a "surprise" lump sum)