Postbank is open for business!

eth0_

Anyone know? Nice to have another alternative seeing as Halifax has turned out to be crap.

flogen

Are you sure they're going to have current accounts? I thought their licence (or at least agreement with Forfas) was only for savings, loans and credit cards.

BuffyBot

I'm pretty sure that current accounts are on the cards also, but it wasn't an immediate priority.

Jet Black

What about the queues??:eek:

I hate the post office. I go everyday for our business post and its out the door.

Look forward to see how they handle this.

I know all banks dont want customers in there branch and are trying to get everyone out and online.

Breacaire

eth0_ wrote: »

Anyone know? Nice to have another alternative seeing as Halifax has turned out to be crap.

PostBank has just just launched their Current Account. It called the "everyday Account. It should be rolled out to all the Post Offices by the end of May.

stepbar

Why Postbank? Unless you've had a bad experience with the other retail banks out there I wouldn't be considering a Postbank a/c TBH. The Post Office is simply not equipped to be offering sound financial advice to customers. It's the post office for god sake. Most of the retail banks can offer free advice in terms of savings, pensions, life cover, credit facilities etc. Aside from working in a bank, and as a customer, it wouldn't be my first port of call.

leche solara

stepbar wrote: »

Most of the retail banks can offer free advice in terms of savings, pensions, life cover, credit facilities etc.

The advice available in most retail banks is rarely impartial, and although postbank are unlikely to be impartial either they are open far longer hours incl. Saturdays than commercial banks

Blackjack

flogen wrote: »

Are you sure they're going to have current accounts? I thought their licence (or at least agreement with Forfas) was only for savings, loans and credit cards.

I Take it you mean Fortis?

BuffyBot

The Post Office is simply not equipped to be offering sound financial advice to customers. It's the post office for god sake.

I would imagine as it and other products rolled out, the staff will be up trained to deal with queries.

eth0_

Just noticed that An Post's Postbank is now open for everyday banking, current accounts with ATM/debit (Maestro - a real maestro card by the looks of it) card.

https://www.postbank.ie/portal/start.asp?

snubbleste

Looks interesting
With the Maestro card, they charge €2.50 for non-euro debit transactions
and €5 for non-euro ATM withdrawals

The online banking bit looks like a headache to deal with but is secure. So you'll need a card & a digi device.

1. You need to have your Current Account Card available
2. You need the BankSmart device to read your Card
3. You'll get an 8 digit onscreen code to enter into BankSmart (this code is different every time)
4. You need your Card's PIN code to enter into BankSmart
5. You'll get a once-off ‘electronic signature' to enter on the Log In screen.

Slice

real maestro card by the looks of it

What do you mean by that? Are there banks circulating fake maestro cards?

Davy

Slice wrote: »

What do you mean by that? Are there banks circulating fake maestro cards?

I think he means the where they are accepted etc, because there is a big difference between cards it seems, see link if your want to get of a taste linky

Slice

So has anyone switched to these guys yet?

Davy

yes, got account set up bout 2 weeks ago. The online banking is a little strange, but ok. Waiting for more post offices though, not a great choice at the minute.

sitstill

Their debit card is branded just as Maestro, not Laser.. Will it work ok in shops here? I'd be a bit worried about the sales assistants "we don't take Maestro"

BuffyBot

It should work fine.

I quite like their current account offer, it will be interesting to see if they will take their credit card in house instead of the OneDirect/MBNA card that is currently on offer.

GerardKeating

sitstill wrote: »

Their debit card is branded just as Maestro, not Laser.. Will it work ok in shops here? I'd be a bit worried about the sales assistants "we don't take Maestro"

The laser brand is being phased out, in favour of Maestro. Many newer Laser Chip&Pin cards also have the Maestro application on them.

A POS machine in RoI will automatically select the Laser application, whereas abroad the Maestro application will be accepted.

Our man in Havana

How long after opening that account did you get your online banking set up?

baguio

snubbleste wrote: »

With the Maestro card, they charge €2.50 for non-euro debit transactions
and €5 for non-euro ATM withdrawals

isn't that a tad expensive!? Is there a comparison between current accounts for this fee on the interweb somewhere?

Its got to be one of the biggest rip offs going.

As regards the postbank account, (being the cheapskate that I am!), I only set one up to get the free GAA jersey . However, I am thinking of switching my current account over from Ulster Bank - as its convenient with my local post office not closing for lunch (whereas UB do) and with no fees being applied...

corkgal1981

Hi,
I work for An Post. Doesnt seem like people are aware that AIB banking is actually available in post offices for years now. We're ever so slightly more trained than bank clerks - banking, postal services, passports, tv licences, billpay, insurance, savings & investments, .........

BuffyBot

I notice their FAQ's say that cashback isn't available on their Maestro card yet. Has anyone tried it? Is it still the case, or is their site out of date?

Our man in Havana

Cash back is not yet available. Still limited acceptance amongst merchants. Tescos, Aldi and Lidl don't accept maestro.

Also the card cannot be used for internet shopping.

Davy

Bond-007 wrote: »

Also the card cannot be used for internet shopping.

Whats the reason it cant, if it can be used worldwide, anywhere their is maestro?

Our man in Havana

I asked Postbank and they told me it is disabled for cardholder not present transactions. They do not want to be getting involved in disputes between account holders and retailers i.e. they don't want anything to do with chargebacks etc.

I have attempted to order stuff online and the card is not accepted. I has a merchants machine with Ulster Bank so I did a few tests (€5 sale) to see what you can do with Maestro.

Chip and Pin: works.
Swipe and sign: declined.
Manually keyed number: declined.
Cardholder not present: declined.

Based on the above the card is useless for online shopping or for use in non chip and pin countries.

Davy

Bit of a step in the wrong direction this day in age.

Our man in Havana

Agree 100% with you.

BuffyBot

Bond-007 wrote: »

I asked Postbank and they told me it is disabled for cardholder not present transactions. They do not want to be getting involved in disputes between account holders and retailers i.e. they don't want anything to do with chargebacks etc.

I have attempted to order stuff online and the card is not accepted. I has a merchants machine with Ulster Bank so I did a few tests (€5 sale) to see what you can do with Maestro.

Chip and Pin: works.
Swipe and sign: declined.
Manually keyed number: declined.
Cardholder not present: declined.

Based on the above the card is useless for online shopping or for use in non chip and pin countries.

Nasty. Funny how they seem to fail to mention that anywhere...

Slice

Chip and Pin: works.
Swipe and sign: declined.
Manually keyed number: declined.
Cardholder not present: declined.

In other words it about as useless as laser for online transactions?

Our man in Havana

Actually it is less useful than laser. At least some websites accept laser, road tax etc.

Davy

Slice wrote: »

In other words it about as useless as laser for online transactions?

Prob worse,, some irish operations takes laser, Cdwow, buy4now, o2 etc...

beaten to it ... :rolleyes: