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BOI Alternatives-New Charges

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    #2
    Delta2113
    Registered Users Posts: 2,672 ✭✭✭Delta2113


    FREE EBS Money Manager Current Account and then you use it to top up Revolut or N26 or Monese and all FREE!


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    #3
    JTMan
    Registered Users Posts: 5,538 ✭✭✭JTMan


    jeffk wrote: »
    Whats everyone's go to bank or is there one?

    If you want no charges, your options are:
    - Student, graduate or senior account if you are in those age brackets.
    - EBS account BUT the no app and no mobile wallet payments and high FX fees.
    - EBS and Revolut/Monese combo.
    - Revolut only.
    - Monese only.
    - KBC Extra with no euro fees provided you deposit at least 2k per month but high FX fees.
    - KBC Extra and Revolut/Monese combo.


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    #4
    CertifiedSimp
    Site Banned Posts: 280 ✭✭CertifiedSimp


    Can anyone give me a reason not to use KBC extra current account with Revolut?

    What about N26?


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    #5
    jeffk
    Registered Users Posts: 5,836 ✭✭✭jeffk


    JTMan wrote: »
    If you want no charges, your options are:
    - Student, graduate or senior account if you are in those age brackets.
    - EBS account BUT the no app and no mobile wallet payments and high FX fees.
    - EBS and Revolut/Monese combo.
    - Revolut only.
    - Monese only.
    - KBC Extra with no euro fees provided you deposit at least 2k per month but high FX fees.
    - KBC Extra and Revolut/Monese combo.

    Great post, thanks

    I have revolut thanks to BOI being in dark ages for google pay (I think changing soon)

    After that basically need a credit card, then have savings, and the house bills/direct debt

    Looking like i might need to book in with KBC and have a chat to see, lay out what i need an see what they come back with


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    #6
    Sconsey
    Registered Users Posts: 1,561 ✭✭✭Sconsey


    I'm in the same boat, been with BOI all my life but am planning to switch based on the new charges.

    I am thinking one of the KBC current accounts along with the Revolut (which I already have).

    Question: I have a credit card (Mastercard) issued by BOI. I assume I could keep that credit card, just pay the govt. duty and pay into the credit card account from KBC? Does that sound right? I have never seen any BOI charges taken from the credit card account. I don't see anything on KBC's site about offeing credit cards.
    Makes me wonder if I even need a credit card anymore.


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    #7
    whatever76
    Registered Users Posts: 1,008 ✭✭✭whatever76


    So annoying and they ending the ‘no transaction fees’ offer when 3k in account for the quarter - that was v handy as I put 3k of my savings ( rainey day fund) in my Current account to avoid the fees .... grrrr and never went into it over last 5 years so just got charged the quarterly fees.


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    #8
    jeffk
    Registered Users Posts: 5,836 ✭✭✭jeffk


    whatever76 wrote: »
    So annoying and they ending the ‘no transaction fees’ offer when 3k in account for the quarter - that was v handy as I put 3k of my savings ( rainey day fund) in my Current account to avoid the fees .... grrrr and never went into it over last 5 years so just got charged the quarterly fees.

    I was the same, even if I got hassle off the dole for having it


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    #9
    Sconsey
    Registered Users Posts: 1,561 ✭✭✭Sconsey


    jeffk wrote: »
    I was the same, even if I got hassle off the dole for having it

    Same, just had a flat €5 quarterly fee, €20 per annum...that is now changin to €72 per annum.....just about enough to get me off my arse and move.


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    #10
    jeffk
    Registered Users Posts: 5,836 ✭✭✭jeffk


    Sconsey wrote: »
    Same, just had a flat €5 quarterly fee, €20 per annum...that is now changin to €72 per annum.....just about enough to get me off my arse and move.

    Yeah same here, even got into revolut to get pass no Google pay

    At least we have a few months to figure out and move


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    #11
    feelings
    Registered Users Posts: 473 ✭✭feelings


    Hilarious that they are only introducing Google Pay now.


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    #12
    whatever76
    Registered Users Posts: 1,008 ✭✭✭whatever76


    Sconsey wrote: »
    Same, just had a flat €5 quarterly fee, €20 per annum...that is now changin to €72 per annum.....just about enough to get me off my arse and move.

    I actually didn't mind the flat quarterly fee as I was like fair enough and Id prob be ok with 10 quid a quarter but when you do the 6 * 12 maths - its making me do same - just bit a much now !


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    #13
    [Deleted User]
    Posts: 8,647 ✭ [Deleted User]


    Does any other bank have free transaction fees if you keep a certain amount in your current account?


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    #14
    adox
    Registered Users Posts: 19,017 ✭✭✭✭adox


    Deleted User wrote: »
    Does any other bank have free transaction fees if you keep a certain amount in your current account?

    KBC Extra Current account. You’ve to put 2k a month in to keep it fee free.


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    #15
    Bubbaclaus
    Registered Users Posts: 4,461 ✭✭✭Bubbaclaus


    CertifiedSimp wrote: »
    Can anyone give me a reason not to use KBC extra current account with Revolut?

    What about N26?

    I use KBC extra current account and Revolut for almost 2 years now and havent spent a cent in fees in that time.


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    #16
    Ohmeha
    Registered Users Posts: 1,920 ✭✭✭Ohmeha


    Sconsey wrote: »
    Same, just had a flat €5 quarterly fee, €20 per annum...that is now changin to €72 per annum.....just about enough to get me off my arse and move.
    Simplified fees structures don't usually result in better value for the majority. BOI seem to be confident this won't result in enough of their customers switching to cause BOI financial hits


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    #17
    Sarn
    Registered Users Posts: 3,061 ✭✭✭Sarn


    Sconsey wrote: »
    Question: I have a credit card (Mastercard) issued by BOI. I assume I could keep that credit card, just pay the govt. duty and pay into the credit card account from KBC? Does that sound right? I have never seen any BOI charges taken from the credit card account. I don't see anything on KBC's site about offeing credit cards.
    Makes me wonder if I even need a credit card anymore.

    Yes, that’s right. You can keep your BOI credit card. You just setup a payment from your new current account into it.


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    #18
    cmac2009
    Registered Users Posts: 1,378 ✭✭✭cmac2009


    Ohmeha wrote: »
    Simplified fees structures don't usually result in better value for the majority. BOI seem to be confident this won't result in enough of their customers switching to cause BOI financial hits

    Will be interesting to see if that will be the case, perhaps given the inertia towards changing banks, but I for one will be closing my account having been a customer since I was 13.


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    #19
    adox
    Registered Users Posts: 19,017 ✭✭✭✭adox


    Sarn wrote: »
    Yes, that’s right. You can keep your BOI credit card. You just setup a payment from your new current account into it.

    Weird I’ve had a look in a couple of other accounts I have (KBC and N26) and there doesn’t seem to be a way of adding an external credit card for payment.

    KBC will let you add their own credit card and that’s it it seems.

    If it comes to it I’ll cancel the BOI credit card too and get one somewhere else. I have some direct debits set up on it so would have kept it for convenience if I could pay it from an external account.


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    #20
    Sarn
    Registered Users Posts: 3,061 ✭✭✭Sarn


    You just have to set the cc up like any other payee. I did it with my PTSB account when I moved a few years ago. Should be the same for any bank.


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    #21
    francie81
    Registered Users Posts: 1,412 ✭✭✭francie81


    I just read an email about this change and for those of you who are BOI account holders what do you think of this?

    I think charging customers 6e pm regardless if you use your card or not is a disgrace and they use an excuse that customers saying how the list of charges were too complex absolute ********, and just when I started using Revolut for almost everything this happens, not a happy camper.

    Would like to hear your thoughts on this?


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    #22
    Xaniaj
    Registered Users Posts: 457 ✭✭Xaniaj


    Same here, I kept the minimus 3k previously so was paying 5eur a quarter and now they expect 6eur a month?! Will look to move ASAP....


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    #23
    GarIT
    Registered Users Posts: 8,671 ✭✭✭GarIT


    N26, only properly free bank operating in Ireland.


    Some drawbacks, can't cash cheques or lodge cash and support is text based but I guess you get what you pay for.


    On the positive side they have free currency conversion (and they don't use any trick exchange rate in place of a fee), they send you a notification for every transaction, and even in advance in some cases for direct debits.


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    #24
    Bubbaclaus
    Registered Users Posts: 4,461 ✭✭✭Bubbaclaus


    People pay for every other service they use and dont give it a second thought. But when a bank wants to charge for the services they provide people become enraged. Never understood it.


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    #25
    GarIT
    Registered Users Posts: 8,671 ✭✭✭GarIT


    Bubbaclaus wrote: »
    People pay for every other service they use and dont give it a second thought. But when a bank wants to charge for the services they provide people become enraged. Never understood it.


    Typically banks use your money to make a profit. People see it as an exchange rather than a service they are paying for.


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    #26
    francie81
    Registered Users Posts: 1,412 ✭✭✭francie81


    Xaniaj wrote: »
    Same here, I kept the minimus 3k previously so was paying 5eur a quarter and now they expect 6eur a month?! Will look to move ASAP....

    Me at that!


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    #27
    Morby
    Registered Users Posts: 530 ✭✭✭Morby


    Is this happening all BOI accounts? I didn't get any email


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    #28
    NIMAN
    Registered Users Posts: 33,132 ✭✭✭✭NIMAN


    I'm not happy to hear about this news, but is there any point in moving if other banks are charging too?


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    #29
    Yyhhuuu
    Registered Users Posts: 798 ✭✭✭Yyhhuuu


    I used to keep €3k in account and only paid €20 per year. Now increasing to€72. Disgraceful. Note the BOI dont charge their UK current a/c customers fees. Too much competition there. BOI insulting my intelligence with their excuse/ reasoning for fee increase. They're making me pay for people foolish enough to divulge their personal details ( however convincing the fraudsters were) in the recent SMShing scam as was heard on RTE Liveline.

    I'm moving to either KBC or EBS to get free fees. I was a customer of BOI for decades.

    Went into branch today. Nobody there whatsoever. Staff are not as polished they used to be.

    Only redeeming factor is BOI staff very helpful on telephone.


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    #30
    GarIT
    Registered Users Posts: 8,671 ✭✭✭GarIT


    https://www.bonkers.ie/compare-current-accounts/


    This might be handy for some people. Put in some basic details and it will calculate the fees with each bank for you.


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    #31
    francie81
    Registered Users Posts: 1,412 ✭✭✭francie81


    NIMAN wrote: »
    I'm not happy to hear about this news, but is there any point in moving if other banks are charging too?

    I know and now am thinking of just trying some way take advantage of it, I also mentioned Revolut of how I started using this as my new way of banking but who knows how long this will stay in existence but it no doubt is they way to go whilst abroad.


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