Moving to Ireland: Banking and Credit Cards

Saracen

I'll be over in about 3 weeks for work, and found out that I can't really get an account until I arrive and have an address. I've been encouraged to go with AIB since that's apparently the easiest to transfer to/from the UK with. Is that still consensus? How long does it take to get an account from going in with the paperwork. Is a debit card standard?

My other question is on getting hold of an Irish Credit Card. Is there a site that compares the deals available or is it unlike the UK where we have shedloads of crazy offers? Is there anything I can do to boost my credit rating in Ireland? My UK situation is fine with about 4 cards, most in excess of £5K credit limits. But I'm guessing that's of no bearing? If not, how long do I expect to wait before I can get accepted?

Thanks.

Sangre

I think AIB are the only bank at the movement who can transfer funds internationally over the phone/internet.

Irish banks are quite a bit cheaper than English ones. Yes there are various offers but most will offer 'free' banking in some form or another. This usually means you're only charged for overdraft (and interest on it) as well as breaches of the account e.g. trying to put funds through it when insufficient funds, this will usually result in a referral fee or something similar. Debits cards are not standard with all banks but I think they are now with AIB. Any debit card in Ireland is subject to an annual government stamp duty of €20, any credit card is €40. However non-Irish residents are excluded. This means you'd need to have an account with a non-Irish address.

Why not continue to use your UK cards here and transfer the money with AIB to pay them off? Any Visa/mastercard will work in any shop. There should be no currency charges (except a small one set by visa intl.)

stepbar

Saracen wrote:

I'll be over in about 3 weeks for work, and found out that I can't really get an account until I arrive and have an address.

True

I've been encouraged to go with AIB since that's apparently the easiest to transfer to/from the UK with. Is that still consensus?

Also true

How long does it take to get an account from going in with the paperwork. Is a debit card standard?

You should have an a/c operating within 2 working days. AIB give debit cards out as standard. Most other banks dont.

My other question is on getting hold of an Irish Credit Card. Is there a site that compares the deals available or is it unlike the UK where we have shedloads of crazy offers?

Not that I know of

Is there anything I can do to boost my credit rating in Ireland? My UK situation is fine with about 4 cards, most in excess of £5K credit limits. But I'm guessing that's of no bearing? If not, how long do I expect to wait before I can get accepted?

Credit ratings dont carry from country to country. Usually six months and satisfactory turnover on the a/c before an app for a credit card would be entertained.

Thanks.

.

Ogham

I wouldn't agree that AIB is as good as previous posters are saying.
There is no reason why AIB would be easier for transferring from the UK. We moved here and I thought the same - and even asked about setting up an AIB account in the UK before we moved - but they said themselves that it would be no quicker or easier if I did that.
AIB will charge you transaction fees unless you (each quarter) make a purchase with your AIB Debit Card AND use AIB Phone & Internet Banking to make a debit transaction like paying a bill. I know this sounds easy - but forget to do it one quarter and you will be hit with fees for each cashpoint, debit card, cheque ... it soon ads up.
Ulster Bank are fee free - and will give you 150 euro currently when you open an account. They have plenty of branches - and the credit card comes with a good interest free introductory offer.

In the short term - using UK credit cards will be OK - but it will become mere hassle and expense if you have to keep transferring money back and over and losing out on exchange rates. There is a 40 euro Credit Card govt stamp duty - but Ulster give yo a 40 rebate if you spend over a certain amount a year.

I have no connection with Ulster Bank - but am a happy customer of theirs.

www.moneyguideireland.com might be useful for you to look at.

Saracen

I think I can manage those things each quarter with AIB, as I do so anyway at present. But Ulster Bank looks good. I'm guessing by their logo that they're part of RBS.

The Maestro service card is useful to me as I can use that in the UK. There's no Lazer here. Any word on AIB's card?

What about having accounts at multiple banks, is it easy to do? In the UK I bank with Lloyds, HSBC, and Barclays.

edit: OK so it seems AIB's card is also maestro, but it's not clear whether this is accepted online too?

BuffyBot

Ulster Bank is part of RBS yes. Their internet banking isn't great though and some people have commented on their less-than-satisfactory customer service before, though I'm sure many people use them without hassle.

And as for using your Irish Maestro in the UK, it can be rather hit and miss. Online usage can be a little hit and miss too.

Yes, you can bank with multiple banks.

Sangre

I wouldn't agree that AIB is as good as previous posters are saying.
There is no reason why AIB would be easier for transferring from the UK.

Neither of us said it was a better bank, just it filled his needs.

AIB is easier as you can transfer internationally without having to go into a branch i.e. phone/internet. I don't know of any other bank who can do this.

Saracen

Interesting. I do a *lot* of online shopping and have done since 1996. No doubt I won't be able to do as much in Ireland due to delivery charges, but I still envisage purchases from Amazon, eBay/PayPal, Dabs, Apple, etc..

Is there a bank that provides a standard VISA *debit* card like some do here? I've found this to be accepted practically everywhere.

If I do open a second account, will they say anything about me not paying in my salary each month? I suppose this applies to the wife too while she's still looking after the kids.

Thanks.

BuffyBot

Yes, Halifax offer a Visa Debit card. (www.halifax.ie). So far they are the only one.

You can open second accounts, but they less money coming in and out, the less likely you are to get credit cards etc and other products.

Saracen

See now that's quite enticing. Maybe I'll set up with AIB as my main account. Then get a Halifax account for spending online.

I don't think I've ever heard of Lazer being accepted in the UK. Is the Mestro support straight Maestro though, as in the same as Switch used to be here. If a place accepts Maestro, then an AIB Maestro is fine, even online?

BuffyBot

Alas no, it's not quite that simple with the Maestro card. Laser was never accepted in the UK, as it was designed to be a Ireland only card.

Maestro isn't as seamless as Visa Debit and therfore sites/stores that accept UK issued Maestro cards don't always accept or recognise Irish Maestro cards.

Saracen

Thanks for the great responses. So I guess I'll go with AIB for the main account, due to the internet banking (something I've been using practically daily since it was first launched here). Then I'll try to get a credit card for online shopping (Halifax have a nice 0% offer). Then if I can, I'll get a Halifax account too.

Just a few more questions:
- Can i apply for a CC at a bank with whom I do not hold an account?
- What's the best way of opening an account for my (non-earning at the mo) wife? Will AIB let us do it if I'm already with them?
- What about a joint account?

Sangre

- Yes but it makes the process longer (need to provide more info e.g. bank statements)
- if she isn't earning get her to open an account with a bank that gives free banking with NO conditions e.g. permanent tsb, ulster bank (i think)
- joint account only would be straight forward enough if you are both there to sign.

Saracen

So we'd be with separate banks? That means that transferring money to her account would take longer, no? I can always do the joint one, then work it out when we get there.

Thanks.

Sangre

It would take longer yes.
The simplest solution is just joint account.