Switching Banks, affect future mortgage?

Clarice

I've been with AIB all my life, but have a loan with Halifax and a Visa with MBNA. I want to move everything to the same bank, and chose Halifax with whom I have opened an account but not switched over as of yet.

In a few years I'll be looking for a mortgage. Will this switch have any affect on my rating?

MysticalSoul

No, I don't think so. As a background credit check is usually done anyway. Also, people very often may have their current accout with one bank, and their mortgage with another. I am one of those. Current account BoI, mortgage EBS

shoegirl

Not at all.

stepbar

I question why you would want to move to Halifax (of all banks). Seriously. No it won't effect your credit rating.

Ogham

stepbar wrote: »

I question why you would want to move to Halifax (of all banks). Seriously. No it won't effect your credit rating.

Maybe the 10% interest on current account balances upto 2k helps and the free banking without those little terms and conditions that BOI and AIB like to add.
Maybe you are a little biased - working for a competitor?

stepbar

Ogham wrote: »

Maybe the 10% interest on current account balances upto 2k helps and the free banking without those little terms and conditions that BOI and AIB like to add.
Maybe you are a little biased - working for a competitor?

Well all I'll say is if you're prepared to move to a bank that.... (well I think I've covered all I need to say in previous threads) for a max of 200eur gross interest per year and are willing to erase your banking history for the measly amount mentioned above then good luck to you. With 40 odd branches they're a serious competitor to be reckoned with LOL

If anything BOI / AIB have to be commended for trying to encourage / social engineer the population towards using online banking.

BTW my accounts are with my companies largest competitor if that's any help to you.

dotsman

stepbar wrote: »

Well all I'll say is if you're prepared to move to a bank that.... (well I think I've covered all I need to say in previous threads) for a max of 200eur gross interest per year and are willing to erase your banking history for the measly amount mentioned above then good luck to you. With 40 odd branches they're a serious competitor to be reckoned with LOL

If anything BOI / AIB have to be commended for trying to encourage / social engineer the population towards using online banking.

BTW my accounts are with my companies largest competitor if that's any help to you.

I second that. There's more to banking than the gimmicks they offer.

Work for one bank, but as a customer I deal with 3 banks (and have dealt with another 2 banks in the past few years). Am seriously considering cancelling my credit card with Halifax. They don't even know what customer service is!

As for the social engineering being carried out by AIB/BOI, I think this should be made compulsory for all banks! It's not that tricky to comply with, all they ask is that you give modern banking a go (online banking / debit cards). They know that once you try it you won't go back! And hopefully, some day, all financial transactions will be carried out this way.

But to your original question. It won't in anyway affect your rating (as in application scoring etc), but it might affect your bank's loyalty (ie a bank that you have a long (good!) history with, and possibly are known personally to someone working there, might be more willing to go the extra mile, especially now that lending criteria has gotten stricter).

stepbar

dotsman wrote: »

Am seriously considering cancelling my credit card with Halifax. They don't even know what customer service is!

Do it! I did and I don't regret it TBH. There are far better credit cards out there like the AIB Click card ( which I have) and the Clear card from BOI.

in the pub

Halifax is defintley the way forward...what has having only 40 branches got to do with anything?

At least they offer a proper Visa debit card. I mean all BOI and AIB offer is a Lasor card! thats just shocking-its 2008!! Its not recognised anywhere apart from Ireland, so if you want to spend abroad or even online you have to find an ATM or have a credit card. What a Joke.

And dont lets get started about the ridiculous charges for day to day banking.

The likes of BOI and AIB need to step in to modern times. So do the people using them

BuffyBot

in the pub wrote: »

Halifax is defintley the way forward...what has having only 40 branches got to do with anything?

At least they offer a proper Visa debit card. I mean all BOI and AIB offer is a Lasor card! thats just shocking-its 2008!! Its not recognised anywhere apart from Ireland, so if you want to spend abroad or even online you have to find an ATM or have a credit card. What a Joke.

How is it "shocking"? Many other banks globally offer Maestro cards. And as for using abroad - it does vary. See the many tales or success and misadventure as reported on this forum. Just today I used my Maestro abroad for payments. Yes, it doesn't quite have the universal acceptance of Visa Debit, but that does appear to be changing (albeit slowly).

And don't lets get started about the ridiculous charges for day to day banking.

The likes of BOI and AIB need to step in to modern times. So do the people using them

They both have packages that offer "free banking" (a myth anyway as the banks just recover the "free" aspect by charging more for everything else), if people want them. They're no different than most big banks I've experienced.

At least post with perspective, instead of a rather shoddily grounded rant.

in the pub

And where is the perspective in your post/rant??

It is shocking because as you say yourself, lasor "does not quite have the universal acceptance as visa debit". Ya dont say!! thats precisely my point. Visa is an internationally recognised method of payment. Surley the national banks of Ireland should take part in providing one?? can you not see my point?

I think you need to get out and "experience" some other banks because most major banks that i have dealt with do not have these out of date over-charges. It sounds like you are saying they are reasonable and quite happy to pay them?

Toots

Well I work with BOI, and on the form to open a new current account there's a box to tick if you're switching from another financial institution, generally if someone ticks it, I'd ask them where they're switching from, just out of interest myself. The majority of them have been Halifax and UB, and most people have said that their reason for switching is the awful customer service they've received from both of them. TBH, it's easy to get free banking with BOI, 3 online/phone transactions a quarter is not a huge amount to ask, and it'll encourage you to do more banking online and not have to come all the way down to the bank to pay your ESB bill.

BuffyBot

in the pub wrote: »

And where is the perspective in your post/rant??

It is shocking because as you say yourself, lasor "does not quite have the universal acceptance as visa debit". Ya dont say!! thats precisely my point. Visa is an internationally recognised method of payment.

As is Maestro. Laser, is a domestic scheme only. Hence why Maestro co-branding has been introduced in the last few years. And as I stated, international acceptance seems to be coming, albeit slowly.

As a note, I didn't see a store today that refused to accept Visa debit cards for some reason, which I thought was odd

Surley the national banks of Ireland should take part in providing one?? can you not see my point?

They have. It's not one that you like, and many others don't either. Doesn't mean it's not happening. It's quite possible one of the bigger banks may switch over to Visa eventually

I think you need to get out and "experience" some other banks because most major banks that i have dealt with do not have these out of date over-charges. It sounds like you are saying they are reasonable and quite happy to pay them?

Again, more shoddy arguments. I've experienced most of the main banks in Ireland, and quite a few abroad both personally and professionally. I don't see all that much difference between them, in the bigger scheme. For every "free" transaction, you end up paying somewhere.

dotsman

in the pub wrote: »

Halifax is defintley the way forward...what has having only 40 branches got to do with anything?

At least they offer a proper Visa debit card. I mean all BOI and AIB offer is a Lasor card! thats just shocking-its 2008!! Its not recognised anywhere apart from Ireland, so if you want to spend abroad or even online you have to find an ATM or have a credit card. What a Joke.

And dont lets get started about the ridiculous charges for day to day banking.

The likes of BOI and AIB need to step in to modern times. So do the people using them

Wow, do you you have a load of halifax shares or something? As already stated, I am a Halifax customer, as well as being with other banks, and I have to say that Halifax are certainly a unique experience. I'd consider them the NTL of banking. Very limited offering and the worst customer service I have ever experienced with a bank (and I've only been with them a few months!)

What's the big deal with a Visa Debit Card? If I was offered one, I wouldn't bother. I have a maestro and a Visa Credit (well, 2 actually - the halifax one and an AIB one) card which covers every payment option I could possibly want! You do realise you cannot even view your Halifax credit card online? Once I figure out a way to pay my Halifax card (they make it bloody difficult), I will be cancelling it (requesting them to send me out a PIN 4 times is 4 times too much in my opinion).

As for 40 branches - obviously you don't do any serious banking (financial advise, purchasing bank drafts, large loan/mortgage applications etc). Trust me, when you come to doing this, you will want a bank that's easy to get to.

Also, for such a small customer base, I certainly hear a hell of a lot of complaints about them.

You claim that AIB/BOI need to move into modern times - they offer a hell of a lot more modern banking facilities than Halifax (have you even tried AIB's online banking? have you tried Halifax's? I'll give you a clue - as I've already said Halifax don't even have online banking for their credit cards!!!)

Finally, as already mentioned - AIB/BOI should be commended for encouraging people to use modern banking methods. Anyone who ends up paying banking charges with these banks deserves to!

Halifax is just a wannabe bank with a load of gimmicks.

stepbar

I'll give you a lovely example of how shoddy Halifax is. I opened a credit card a/c with them back in Jan of this yr and closed it about 4 months later solely because I wasn't able to view it online. Now fair enough, if they had the facility to view the card online that would be great, but the hoops just to open a current a/c would turn me off TBH. Halifax are not "really" interested in opening a/c's for first time customers (i.e customers who have never had a bank a/c before). In effect to open an a/c with Halifax I would have to switch to them which I would have no interest at all doing.

After closing the credit card (and paying the gov duty and balance) I got a bill about 6 weeks later to say I owed Halifax 53cent in purchase interest. Rang them up. The customer service agent seemed amused to say the least, apologised and cancelled the outstanding balance. Shocking to say the least when you consider that if a bill is paid off in full before the due date no interest should apply.

stepbar

in the pub wrote: »

Halifax is defintley the way forward...what has having only 40 branches got to do with anything?

Plan on living in Dublin for the rest of your life? Try walking into a local branch of Halifax in Connaght. 3 branches for the whole province. 8 in Munster. I wouldn't fancy a long drive to do some banking.

in the pub wrote: »

At least they offer a proper Visa debit card. I mean all BOI and AIB offer is a Lasor card! thats just shocking-its 2008!! Its not recognised anywhere apart from Ireland, so if you want to spend abroad or even online you have to find an ATM or have a credit card. What a Joke.

And dont lets get started about the ridiculous charges for day to day banking.

The likes of BOI and AIB need to step in to modern times. So do the people using them

You couldn't really accuse BOI / AIB of not being with the times. Have you tried to top up your phone with Halifax yet? And as for accusing the people who use the banks above as not being with the times doesn't even warrant a responce.

in the pub wrote: »

It is shocking because as you say yourself, lasor "does not quite have the universal acceptance as visa debit". Ya dont say!! thats precisely my point. Visa is an internationally recognised method of payment. Surley the national banks of Ireland should take part in providing one?? can you not see my point?

Shocking? Not really. Most people have a credit card and don't really have a problem using them.

in the pub wrote: »

I think you need to get out and "experience" some other banks because most major banks that i have dealt with do not have these out of date over-charges. It sounds like you are saying they are reasonable and quite happy to pay them?

As stated you don't need to do too much to avoid paying fees with BOI/AIB. AIB - One debit card transaction and one online debit transaction per quarter!!!
BOI - 3 online debit transactions per quarter!

Not onorus TBH.