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Avoiding Bank Fees & Charges

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    #212
    Yyhhuuu
    Registered Users Posts: 798 ✭✭✭Yyhhuuu


    xckjoo wrote: »
    Thanks I hadn't come across this before. The cashback rate looks interesting. Is there any caveats to watch out for?

    Not that I'm aware of but at least they pay your stamp duty with the rewards+ option I chose.

    They eventually approved my application but my income was steady thank god and strike wood. I have Zero credit card debt.

    I don't need credit but applied for card as:

    1. €6k available credit to hand if required which I hope I never have to use

    2. Easier to dispute a transaction BEFORE money taken from my account

    3. Hotel bookings , or for those who need it, car hire

    Avant Money staff on the telephone don't seem as good as the Bank of Ireland Card Services I previously held my card with.

    The application process is drawn out, links to upload documents don't work, they then claim emailed documents are illegible eventhough crystal clear when I emailed photographs. I then had to post in documents which they took days to acknowledge. All in all I really earned that €30 and it was as difficult as applying for a €50k loan with AIB.


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    #213
    Yyhhuuu
    Registered Users Posts: 798 ✭✭✭Yyhhuuu


    bugsyb4 wrote: »
    Nightmare news when this broke during the week. I know probably means f88k all but surely surprising too considering the amount of advertising they have out, seems way more than the regular Irish banks.

    Were with BOI for years and moved all current accounts to BOI last year before they started fleecing us for €6 a month so to hear BOI were the ones in talk with KBC was a double whammy!! Also with KBC have 2 mortgages, investment funds and savings account so be a lot of tidying up needed to be done when time comes which hopefully as a few posters mentioned will be a few years down the track.

    Pity as had no major issues with KBC really.

    I moved to KBC from BOI. Very annoyed BOI wont let me leave them..

    KBC have excellent app. Kbc telephone staff go over and above call of duty. They were as professional as BOI but free.

    I was making a loss for them as I also had a regular savings account with them.

    Who do I go to now?? It won't be Revolut as no bank depositors' guarantee in ROI as far as I'm aware?

    I also have a current account with EBS but rarely use. Ebs online banking is a total joke.
    Why can't they use same system as AIB. It must be that if they did it would cost a lot of money which they may not want to spend as they will probably close down the EBS arm. Is this still a building society as in Educational Building Society which was so mismanaged during the boom years it was sold to AIB for about €1


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    #214
    hold my beer
    Registered Users Posts: 1,666 ✭✭✭hold my beer


    Yyhhuuu wrote: »
    Not that I'm aware of but at least they pay your stamp duty with the rewards+ option I chose.

    They eventually approved my application but my income was steady thank god and strike wood. I have Zero credit card debt.

    I don't need credit but applied for card as:

    1. €6k available credit to hand if required which I hope I never have to use

    2. Easier to dispute a transaction BEFORE money taken from my account

    3. Hotel bookings , or for those who need it, car hire

    Avant Money staff on the telephone don't seem as good as the Bank of Ireland Card Services I previously held my card with.

    The application process is drawn out, links to upload documents don't work, they then claim emailed documents are illegible eventhough crystal clear when I emailed photographs. I then had to post in documents which they took days to acknowledge. All in all I really earned that €30 and it was as difficult as applying for a €50k loan with AIB.

    Why did you change from BOI cc out of interest?


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    #215
    Yyhhuuu
    Registered Users Posts: 798 ✭✭✭Yyhhuuu


    hold my beer wrote: »
    Why did you change from BOI cc out of interest?

    Because they, Avantmoney,offered me €30. This will pay my stamp duty. In a years time I will cancel the cc


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    #216
    The J Stands for Jay
    Registered Users Posts: 5,651 ✭✭✭The J Stands for Jay


    I have a joint account with KBC, and I've just decided to have a look at AIB as a replacement. They seem less stone age than BoI, and we left PTSB because they're terrible.

    It really was a blast from the past. They give tips to avoid fees: don't use cheques. FFS.


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    #217
    hold my beer
    Registered Users Posts: 1,666 ✭✭✭hold my beer


    Yyhhuuu wrote: »
    Because they, Avantmoney,offered me €30. This will pay my stamp duty. In a years time I will cancel the cc


    And go back to BOI?


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    #218
    dulpit
    Registered Users Posts: 10,268 ✭✭✭✭dulpit


    McGaggs wrote: »
    I have a joint account with KBC, and I've just decided to have a look at AIB as a replacement. They seem less stone age than BoI, and we left PTSB because they're terrible.

    It really was a blast from the past. They give tips to avoid fees: don't use cheques. FFS.

    Aib charge a fortune in fees though. 20c for every transaction is bonkers, and doesn't appear to be capped.


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    #219
    hold my beer
    Registered Users Posts: 1,666 ✭✭✭hold my beer


    dulpit wrote: »
    Aib charge a fortune in fees though. 20c for every transaction is bonkers, and doesn't appear to be capped.


    That is absolutely insane


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    #220
    The J Stands for Jay
    Registered Users Posts: 5,651 ✭✭✭The J Stands for Jay


    dulpit wrote: »
    Aib charge a fortune in fees though. 20c for every transaction is bonkers, and doesn't appear to be capped.

    I've just noticed monese have a joint account. That could be the way to go. Bonkers.ie and ccpc doing the country a disservice by not showing the full banking options available to us.


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    #221
    TheDriver
    Registered Users Posts: 12,393 ✭✭✭✭TheDriver


    dulpit wrote: »
    Aib charge a fortune in fees though. 20c for every transaction is bonkers, and doesn't appear to be capped.

    Unless you have a mortgage and hence free banking, I would run from them. When a shopkeeper says "you'll have to pop in the card", it's suddenly 20c fees.

    Why aren't people going for credit union current account?


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    #222
    zell12
    Registered Users Posts: 23,389 ✭✭✭✭zell12


    TheDriver wrote: »
    Why aren't people going for credit union current account?
    Because €4pm fee and more
    https://currentaccount.ie/support/fees-charges/


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    #223
    bromley52
    Registered Users Posts: 2,792 ✭✭✭bromley52


    I'll be giving N26 a go.


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    #224
    TheDriver
    Registered Users Posts: 12,393 ✭✭✭✭TheDriver


    zell12 wrote: »
    Because €4pm fee and more
    https://currentaccount.ie/support/fees-charges/

    If I want a non fintech bank (eg I want to lodge cheques etc) it rules out N26 etc. So I'm left to BOI, TSB or AIB. 4 a month with no other fees seems not too bad a deal TBH especially when credit unions have great opening hours and counter service.


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    #225
    Roberto_gas
    Registered Users Posts: 3,935 ✭✭✭Roberto_gas


    Yyhhuuu wrote: »
    I moved to KBC from BOI. Very annoyed BOI wont let me leave them..

    KBC have excellent app. Kbc telephone staff go over and above call of duty. They were as professional as BOI but free.

    I was making a loss for them as I also had a regular savings account with them.

    Who do I go to now?? It won't be Revolut as no bank depositors' guarantee in ROI as far as I'm aware?

    I also have a current account with EBS but rarely use. Ebs online banking is a total joke.
    Why can't they use same system as AIB. It must be that if they did it would cost a lot of money which they may not want to spend as they will probably close down the EBS arm. Is this still a building society as in Educational Building Society which was so mismanaged during the boom years it was sold to AIB for about €1

    KBC is not shutting retail banking products ! Just loans and mortgages over to BoI..great relief !


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    #226
    Sheep Shagger
    Moderators, Business & Finance Moderators Posts: 6,217 Mod ✭✭✭✭Sheep Shagger


    Roberto_gas wrote: »
    KBC is not shutting retail banking products ! Just loans and mortgages over to BoI..great relief !

    They're not going to stay here just to offer retail current accounts, its just those cant be sold on like a mortgage or credit card book.

    They will ceass to exist eventually.

    On another point, if people need access to a branch to lodge the odd amount of cash or cheques, keep your credit card with a legacy bank and move everything else to n26 (given they have a banking licence) or one of the other players. Then use the card to make those infrequent lodgement as credit cards don't have any fees (outside of stamp duty).

    Some Savings accounts might let you lodge too without any fees. Keep your current account away from the rip off and tech backward legacy banks.


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    #227
    Roberto_gas
    Registered Users Posts: 3,935 ✭✭✭Roberto_gas


    Sheep Shagger wrote: »
    They're not going to stay here just to offer retail current accounts, its just those cant be sold on like a mortgage or credit card book.

    They will ceass to exist eventually.

    On another point, if people need access to a branch to lodge the odd amount of cash or cheques, keep your credit card with a legacy bank and move everything else to n26 (given they have a banking licence) or one of the other players. Then use the card to make those infrequent lodgement as credit cards don't have any fees (outside of stamp duty).

    Some Savings accounts might let you lodge too without any fees. Keep your current account away from the rip off and tech backward legacy banks.
    They eventually may but account products will continue as per comms sent to customers! By then Revolut will get full license anyways !


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    #228
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    zell12 wrote: »
    Because €4pm fee and more
    https://currentaccount.ie/support/fees-charges/

    Do you realise that credit unions (and banks) incur costs to provide these banking services. It doesn’t run on fresh air!

    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.


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    #229
    Sheep Shagger
    Moderators, Business & Finance Moderators Posts: 6,217 Mod ✭✭✭✭Sheep Shagger


    Roberto_gas wrote: »
    They eventually may but account products will continue as per comms sent to customers! By then Revolut will get full license anyways !

    Revolut are not applying for a fulling banking licence here IIRC but someone will know more about that (if that's important to you).

    I'm not saying don't use revolute BTW, I'm just saying don't have a current account with a legacy bank.

    The reality (in Ireland) is only a small percentage of current account (and indeed utility customers) actually move their business around. Most people are too lazy and just get treated like **** in terms of pricing whether it be a current account, monthky mobile bill, mortgage or insurance.


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    #230
    coldcake
    Registered Users Posts: 148 ✭✭coldcake


    I opened an N26 account today and the process was very easy.

    Also just to remind everybody, that if you are switching credit card providers you only have to pay the government stamp duty once, if you only keep one card.

    On closing your credit card the card provider will give you a letter to give to your new credit card company stating the stamp duty was paid.


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    #231
    The Ayatolla
    Registered Users Posts: 4,081 ✭✭✭The Ayatolla


    Cancelled my KBC Credit Card. Registered on Avant Money and they said I'd get an email to start the doc upload process. Still waiting now, presume it's business hours only.


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    #232
    Darc19
    Registered Users Posts: 3,817 ✭✭✭Darc19


    TheDriver wrote: »
    Unless you have a mortgage and hence free banking, I would run from them. When a shopkeeper says "you'll have to pop in the card", it's suddenly 20c fees.

    Why aren't people going for credit union current account?

    In the overall scheme of things the charges are not bad.

    I'd have about 30 non contactless transactions a month, that's just €6 plus €1.50.

    People complain about charges and then also complain when banks leave the market.


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    #233
    Roberto_gas
    Registered Users Posts: 3,935 ✭✭✭Roberto_gas


    Some funny comments here about charges are normal...thr are no banking charges like we have in Ireland atleast in UK...Market is open and competitive


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    #234
    jefferson73
    Registered Users Posts: 301 ✭✭jefferson73


    McGaggs wrote: »
    I've just noticed monese have a joint account. That could be the way to go. Bonkers.ie and ccpc doing the country a disservice by not showing the full banking options available to us.

    With regard to doing the country a dissservice

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


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    #235
    killbillvol2
    Registered Users Posts: 5,178 ✭✭✭killbillvol2


    Roberto_gas wrote: »
    They eventually may but account products will continue as per comms sent to customers! By then Revolut will get full license anyways !

    KBC will leave the Irish market when they've sold their mortgage book. Mortgages will move to another bank/vulture fund and current accounts etc. will cease to exist. That's what their communication to customers says.

    How long this takes will probably depend on how they deal with their non performing loans.


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    #236
    TheDriver
    Registered Users Posts: 12,393 ✭✭✭✭TheDriver


    Darc19 wrote: »
    In the overall scheme of things the charges are not bad.

    I'd have about 30 non contactless transactions a month, that's just €6 plus €1.50.

    People complain about charges and then also complain when banks leave the market.
    I could have a hundred pin purchases a month so it adds up for me.


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    #237
    feargantae
    Registered Users Posts: 536 ✭✭✭feargantae


    TheDriver wrote: »
    Why aren't people going for credit union current account?

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


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    #238
    AndrewJRenko
    Registered Users Posts: 28,387 ✭✭✭✭AndrewJRenko


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

    Here's the list of CU's, including the Public Service CU.

    https://currentaccount.ie/support/participating-credit-unions/

    So if you have a spouse or parent in a public service role who joins that CU, you can join too.


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    #239
    TheDriver
    Registered Users Posts: 12,393 ✭✭✭✭TheDriver


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

    My local says it's coming this year (based on post KBC social media post) and it dues seem like a good alternative.


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    #240
    Yyhhuuu
    Registered Users Posts: 798 ✭✭✭Yyhhuuu


    hold my beer wrote: »
    And go back to BOI?

    No, I don't think I will need a credit card then hopefully


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    #241
    TempAc
    Registered Users Posts: 84 ✭✭TempAc


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

    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.


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