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Best NI Bank?

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  • 12-09-2008 10:07pm
    #1
    markok84
    Closed Accounts Posts: 857 ✭✭✭


    Hi,
    I'm moving to Belfast tomorrow to return to college. I currently have a BOI current account. I understand that there is a 3% (roughly) cirrus charge on all ATM withdrawals with BOI in the UK. The helpdesk in my local BOI said I should get a student credit card and use it as an ATM card and only pay 1.5% cirrus charge.

    Should I just open a UK account and transfer my funds over? If so which bank is the best option? Also what is the best method of transferring the money over without losing too much in the exchange?

    I'm fairly new to the whole concept of banking! :oso any help is appreciated.


    Mark


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    #2
    Ogham
    Registered Users Posts: 1,844 ✭✭✭Ogham


    How about Ulster Bank? They have branches north and south - ask them if they charge for ATM etc.


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    #3
    BuffyBot
    Registered Users Posts: 24,924 ✭✭✭✭BuffyBot


    Yes, you would be better off opening an account in NI.

    Subject title changed as there are plenty of NI residents here and seem as the banking groups there are a little different than the mainland UK you might more appropriate answers if they check it out :)


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    #4
    pow wow
    Closed Accounts Posts: 5,288 ✭✭✭pow wow


    First Trust, BOI and UB all offer student accounts and there isn't too much in the difference as regards overdraft levels etc. I see that UB automatically offer a debit card whereas First Trust/BOI say their card is an ATM card only (may be different in practice though).

    It's also worth taking a look at the more 'mainland' UK banks like Natwest, SMILE etc. because they often have sign up offers aswell. During Freshers Week there'll be reps on campus from the various banks, I know QUB is sending out all the welcome packs with Ulster Bank logos.

    Re: moving the money - if you have a student a/c with BOI you can get a sterling draft (commission and fee free) which you can lodge into your new NI account. The rate is pretty favourable right now and you avoid the costs associated with electronic transfers; though it will take a few days for the draft to clear.


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