BOI notified fees

junii

Just looking over my statement and they have taken e22 off me in notified fees.

What are these?

Ruu_Old

Probably for withdrawals at the ATM, laser transactions (if you have one), lodgements, cheques, banking365 transactions or standing orders if you have some.

I think its possible to avoid these fees but you would have to talk to your bank in the local branch you deal with, go in and enquire about it. This from their website, I don't know if it applies to you or not.

To automatically qualify for transactions at the end of any quarter4, you must:

* Keep a minimum credit balance of €500 in your account for the full quarter


OR

* Make at least 3 payments from your current account using Bank of Ireland 365 online and / or phone in that quarter

Misty Moon

Usually they should send you a statement of fees every quarter. I think 22 is a fixed rate and covers most transactions e.g. standing orders, direct debits etc - you get up to 80 atm/laser transactions as far as I remember and after that you have to pay an additional 15c (or thereabouts) per transaction.

If you didn't get a statement telling you how much they were going to be taking get on to your bank straight away. I haven't been sent the last three and am starting to get really annoyed at this stage. However I haven't pursued it past an initial complaint as I should have free banking from this quarter on. If you either maintain a balance of €500 at all times (never going to happen to me!) or make three payments or money transfers using online banking then you get free banking. Dying to see how free "free banking" really is - seems they always manage to hide some charges in there somewhere no matter what.

junii

Oh right.

Actually, whats the story with the Ulster bank at the moment? There advertising free banking also. Are the conditions similiar? tbh 22 a quarter is a ****ing rip off. Thats nearly a hundred quid a year.

Just to clarify, are you saying that if I keep e500 in there all the time, Ill never be charged for SO's, ATM et cetera... even bank statements?

Saruman

I have been with ulster bank since i was a kid! First time i got charged anything was recently when my current account went in to overdraft... this is actually ok if its an agreed overdraft but mine was not.

Other than that its the same as TSB.. all free..

deRanged

BOI do a cheaper deal than that - I pay 11.60 a quarter for my fees.

junii

Is there some sort of leaflet or brochure available, perhaps a website with information on what I should be looking for when choosing a bank.

I always have had this idea that it would be good to build up a good reputation with a reputable institution...for mortgages et cetera.

Who really is the best to do business with all round?

deRanged

junii wrote:

Is there some sort of leaflet or brochure available, perhaps a website with information on what I should be looking for when choosing a bank.

Irish Financial Services website.

it has cost surveys on motor insurance, mortgages, credit card charges ...

pabloroxx

I get charged 55Euro in notified fees. Can anyone explain why that is so high?

SolitaireX

Depends on how often you use your bank card, the less you use it the less you pay.

neilthefunkeone

42 euro here!! I use 365 to transfer money atleast 1-2 transactions a week so not sure about this:

* Make at least 3 payments from your current account using Bank of Ireland 365 online and / or phone in that quarter

EDIT: Just noticed this thread is OLD!! never mind!

SolitaireX

Think you need to meet all the conditions, like having the minimum amount in your a/c at all times etc

pabloroxx

But my sister just showed me her statement and hers is 21 euro per quarter. If I went into a Bank to withdraw money instead of withdrawing it from a machine does that reduce the fees? Also does anyone know where I can find a list of things that bump the fees up so I can avoid this in future?

SolitaireX

I'd call them up on it, count up the number of transactions etc, it could be the case that they are just making up numbers.

pabloroxx

Just called them because I wanted to set up the flat rate fee for transactions (something like 28 euro for 90 or less transactions) but that was done away with in August. So every time the account is used - and that includes when I get paid FFS - there is a charge of 28c. What an absolute load of s**t. Im switching banks. Can anyone recommend a decent alternative or are they all the same?

@ SolitaireX: I got the CC rep to email me an up to date statement to see the break down of the charges.

Gaillimh1976

pabloroxx wrote: »

Just called them because I wanted to set up the flat rate fee for transactions (something like 28 euro for 90 or less transactions) but that was done away with in August. So every time the account is used - and that includes when I get paid FFS - there is a charge of 28c. What an absolute load of s**t. Im switching banks. Can anyone recommend a decent alternative or are they all the same?

@ SolitaireX: I got the CC rep to email me an up to date statement to see the break down of the charges.

PTSB have a promo at the moment - not 100% free but much better than BOI/AIB

sandin

I wish I paid €22 a quarter - even a week. My bank charges this year will be well in excess of 10k! and I have no complaints because I understand that they must make a profit and charge for work just like every other business.

Their landlords don;t give them free rent, neither do the councils cut their rates, their staff get wages too and all the technology in banking needs to be paid for. Maybe ask ESB for free electricity? Or eircom for free phones? Or maybe you'll work for free?

No such thing as free banking...ever! - If they don't take it one way, they take it another.

How about "free" banking and 10.9% overdraft rate & 22% credit card rate and other charges you don't notice.?

Much prefer the right cost for the right product - at least then if things go wrong you have the right to complain as you paid for the service.