Ebs money manager account

the-island-man wrote: »

The only two cons I have encountered which I am more than willing to live with:

• Process for adding a payee to the account is archaic. Involves adding the payee account online, ringing the support team with an activation code and possibly waiting 24 hours for it to be activated.

NCW feen wrote: »

Is the money manager account still free of fees? Thinking of opening an account with them.

NCW feen wrote: »

Thanks. Any indication if that's going to change in the immediate future? Most banks seem to be introducing maintenance fees etc at the moment.

coylemj wrote: »

Surely the Central Bank always has an application pending from some financial institution looking to increase fees?

Still no fees and you no longer have to phone them to get a new payee activated. I’d consider also opening a Revolut account.

Then I'd use the Revolut account for day to day spending and the EBS MM account to pay utilities and handle other regular direct debits.

Be aware that logging into EBS requires you to authenticate the login using a phone app and if you lose your phone or it's stolen, you could lose access to the account for several days because in order to activate the app on the replacement phone, you have to get a new authentication code which they will only send in a paper letter. It won't affect DDs and you can still withdraw money from ATMs but you won't be able to do any online transfers until you get the new phone sorted.

The preferred method of authenticating you is that you install an app called 'EBS Authenticator', that gets activated when you go to login on your laptop, a popup panel appears on your phone and you tap 'confirm'. If there's a problem communicating with your mobile, the app can be used to generate a one-off code which you can enter on the website to login.

The process can be frustrating at times, my record for login attempts is 5 i.e. I failed to login 4 times in a row before eventually getting in. The challenge on the app often fails to appear or sometimes when you tap 'confirm', it's not picked up by the website.

It's free. Which means i have a high tolerance for glitches. Adding new payees is a breeze. Just don't expect to login on the hoof, the website is not mobile friendly and there is no mobile app.

My main gripe is that there is a daily limit of €5,000 when it comes to transfers and that includes moving money between your accounts. So, let's say you have a credit card bill of €3,000 and you want to use money in a deposit account to pay it. Bank of Ireland will allow you to pay a CC bill direct from a deposit account but EBS will not. So you login to your EBS accounts and transfer €3,000 from a savings account to your MM account. But now you can't pay the whole bill because that would bust the daily €5,000 limit. So you either pay 2,000/1,000 over two days or do nothing, come back the next day and pay the €3,000 in one go.

If you had €15,000 in a savings account and wanted to transfer it to the seller via EFT when buying a car, you'd have to move the money €2,500 at a time i.e. it would take twelve steps over six days (saving a/c => MM a/c => seller) to get the money to him. So you'd probably just get a draft.

Been banking with EBS since my teens so about 25 years…

bad points as in now….

crap online banking..

late statements

frontline desks understaffed you can be waiting from walking in to being served 20 minutes on a bad day in Liffey St… one of the last times was a Monday, about 12.30… one person serving the clientele…

West Moreland St. branch was better but they went and closed it…

Ah sorry I missed that post thanks for the explanation. I actually opted for the little widget that bank of ireland send out if you don't have a smartphone as I hate those stupid authenticator apps. BOI has quite a good online system but I despise seeing the €6 gone out of my account every month and am willing to move out of spite alone.

The requirement for an app is putting me off EBS now though.

Links and mobiles the tech way these days!!

The post you quoted is almost three years old and the procedure it described for adding a payee no longer applies. You don’t have to phone them to activate a new payee.

your going to struggle to find a bank so, as most will require some sort of authentication via app to use banking on a laptop.

I've Curve but haven't used it in a good while - I don't think a bank needs to support Curve, it should work out of the box so to speak. I've used it with PTSB, Revolut & N26 in the past with no issues

I haven’t used my ebs debit cards in a couple of years, i mislaid the new pin code I got a few months back. In order to receive a new pin must I get a new card ? Can it be sorted by requesting a new pin ? Or do need a new card ?

Their site has all information you’d need, not this however.