Avoiding Bank Fees & Charges

shanec1928 · 16-04-2021 6:08pm

TheDriver wrote: »

So good for paying salary into, DD for bills and debit card for the shops.
And then use a revolut for foreign/google

Make sure you have a branch close by cause nearly everything will involve a visit to carry it out.

Fozzie Bear · 16-04-2021 6:15pm

Black_Knight wrote: »

literally opened a KBC account 2 days ago, and i've the switcher form ready to go.

Exact same boat. Just finalised it this week and waiting on the cards to be posted out now. Moving from UB. Just fcukin sickened with this news. Was going to look into moving the mortgage from BoI to them also.

Still going through with it though cos UB are a shower of gowls. Not sure about the mortgage now

If my credit union ever start offering current accounts I’ll be gone in a flash.

The J Stands for Jay · 16-04-2021 7:34pm

feargantae wrote: »

Both launched in 2015, Revolut was before N26 or Number26 as it was then.

Thanks.

26 was supposed to be the number of moves to solve a rubrix cube I think. The N26 app still shows images of the old Number 26 card with the 26 sided shape on it for their ...loading... image.

Yyhhuuu · 16-04-2021 9:39pm

Sheep Shagger wrote: »

Credit cards are supposed to be coming soon here with n26 and as credit unions try to get on day to day business they could have them soon too.

It's the only thing I have left with BOI, closed everything and moved it to n26 and Revolut last year. The few times I need to lodge cash or cheques I use a lodgement machine to my BOI Mastercard and it has no fees.

Re: Credit Cards, try Avant Money ( formerly Avantcard) although its almost as difficult as switching mortgage such were the details they required and having to re-submit multiple times.

At least I'm richer by €30.

Yyhhuuu · 16-04-2021 9:41pm

TheDriver wrote: »

Are EBS that bad? What exactly are their limitations compared to an AIB account?

Ebs online is appalling. Often times you can't log in at all...

faolteam · 17-04-2021 1:28am

TheDriver wrote: »

So good for paying salary into, DD for bills and debit card for the shops.
And then use a revolut for foreign/google

and whats Ebs charges ?

Yyhhuuu · 17-04-2021 1:49am

faolteam wrote: »

and whats Ebs charges ?

Zero

highdef · 17-04-2021 1:54am

StonedRaider wrote: »

It's still free with AIB if you have a mortgage with them.
A lot of Ulster mortgages would be taken over by AIB when the time comes.
Never paid any bank fees going on 18 years now

I'm the same, no charges at all.... Happy days.

xckjoo · 17-04-2021 11:28am

Yyhhuuu wrote: »

Re: Credit Cards, try Avant Money ( formerly Avantcard) although its almost as difficult as switching mortgage such were the details they required and having to re-submit multiple times.

At least I'm richer by €30.

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

bugsyb4 · 17-04-2021 3:35pm

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.

Yyhhuuu · 18-04-2021 1:57am

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.

Yyhhuuu · 18-04-2021 2:12am

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

hold my beer · 18-04-2021 9:37am

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?

Yyhhuuu · 18-04-2021 9:39am

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

The J Stands for Jay · 18-04-2021 9:52am

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.

hold my beer · 18-04-2021 10:13am

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?

dulpit · 18-04-2021 12:19pm

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.

hold my beer · 18-04-2021 12:37pm

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

The J Stands for Jay · 18-04-2021 6:07pm

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.

TheDriver · 18-04-2021 6:20pm

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?

zell12 · 18-04-2021 6:25pm

TheDriver wrote: »

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

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

bromley52 · 18-04-2021 6:26pm

I'll be giving N26 a go.

TheDriver · 18-04-2021 6:34pm

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.

Roberto_gas · 18-04-2021 7:36pm

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 !

Sheep Shagger · 18-04-2021 7:44pm

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.

Roberto_gas · 18-04-2021 7:47pm

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 !

18-04-2021 7:51pm

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.

Sheep Shagger · 18-04-2021 7:52pm

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.

coldcake · 18-04-2021 7:56pm

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.

The Ayatolla · 18-04-2021 8:25pm

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.

Darc19 · 18-04-2021 8:42pm

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.

Roberto_gas · 18-04-2021 8:44pm

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

jefferson73 · 18-04-2021 8:45pm

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?

killbillvol2 · 18-04-2021 8:48pm

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.

TheDriver · 18-04-2021 9:09pm

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.

feargantae · 18-04-2021 9:11pm

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

AndrewJRenko · 18-04-2021 9:33pm

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.

TheDriver · 18-04-2021 10:41pm

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.

Yyhhuuu · 18-04-2021 11:34pm

hold my beer wrote: »

And go back to BOI?

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

TempAc · 19-04-2021 12:57am

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.

TheDriver · 19-04-2021 8:52am

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

zbeshek · 19-04-2021 8:58am

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

Rock Steady Edy · 19-04-2021 10:02am

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.

Roberto_gas · 19-04-2021 1:57pm

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.

sheroman01 · 19-04-2021 3:41pm

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?...

The Ayatolla · 19-04-2021 3:52pm

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.

Islander13 · 19-04-2021 4:49pm

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

Yyhhuuu · 19-04-2021 6:03pm

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.

jimmycrackcorm · 19-04-2021 6:06pm

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.

Sheep Shagger · 19-04-2021 8:30pm

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.

Avoiding Bank Fees & Charges

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