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Free Banking???

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  • 09-10-2004 6:04pm
    #1
    Dinarius
    Registered Users Posts: 3,406 ✭✭✭


    My wife is a civil servant. Paid directly into her account twice monthly.

    We pay for everything by credit card (mostly....and paid off each month), direct debit ( a few bills) and cheque (very rarely)

    She is currently with BofI and paying about €20 a quarter in fees.

    Who is offering free banking? What are the terms?

    Is there anyone offering free banking in conjunction with an interest paying current account? If so, how much in credit does the account have to be maintained?

    Thanks.

    D.


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    #2
    bambam
    Registered Users Posts: 597 ✭✭✭bambam


    Ulsterbank offer free banking as long as you have min €500 in the account. This is their basic no frills current account.


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    #3
    JTMan
    Registered Users Posts: 5,540 ✭✭✭JTMan


    Ulster Bank, NIB and P TSB all offer some type of free banking offers.

    Have a look at the IFSRA website ( www.itsyourmoney.ie ) for a break down of fees charged by the banks.


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    #4
    shoegirl
    Registered Users Posts: 2,021 ✭✭✭shoegirl


    I was with AIB for a cashsave account (same fees as current account but no cheque book, overdraft or laser card) and BOI for credit card. AIB also turned me down for car finance.

    I moved to NIB, opened a Freebank account (no fees, chequebook and laser credit) and transfered by BOI VISA to them (0% for 5 months and thereafter 2% less than BOI's rate), saving me about 150 on interest and bank charges.

    Oh and they also recently gave me a personal loan to buy a car - rate was a fixed rate of 6.5%. They'd be a good option if an overdraft is not required.

    Otherwise try PTSB if your mortgage is with them or else talk to BOI about the fixed charge option for the current account.


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    #5
    RainyDay
    Closed Accounts Posts: 6,925 ✭✭✭RainyDay


    NIB are the only provider to offer free banking with zero minimum balance requirement. Once you stay in credit, then no charges apply. Check out their Freebank account.

    And don't forget that the new
    code of practice for switching accounts     should make it a bit easier for you to change your account. The new bank will set up all your direct debits for you. I'd love to hear personal experiences for how this new code is working in practice.


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