Summary of current account charges

100gSoma

http://itsyourmoney.ie/cs_tab_personal_current_account.htm

can anyone confirm that BOI and AIB charge 28cent and 20cent respectively for every Debit card/ATM transaction? That seems like alot.

stepbar

Both will give you free banking if you do a few things (i.e AIB, one debit card transaction and online bill payment every 3 months! BOI min of 500 eur in your a/c or 3 online bill payments in 3 months). Not a big deal to be quite honest.

nev0

they charge 28 and 20 cent respectively yes.

expect this to increase fairly soon after this first trench of "assets" and loanbooks are transfered to NAMA.

Toots

nev0 wrote: »

they charge 28 and 20 cent respectively yes.

expect this to increase fairly soon after this first trench of "assets" and loanbooks are transfered to NAMA.

And you know this how? In all the years I've worked for BOI, they've never increased their transaction fees. As Stepbar said, all you have to do is 3 online payments per quarter and you don't pay these fees anyway.

stepbar

Apparently its been more than 13 years Toots!

Seriously, half the bother we're in at the moment is as a result of banks canabalising profit and replacing it with profit from increased lending. It's a fallacy to think that free fee banking can continue in its present form.

100gSoma

thanks for this guys.

Little Miss Cutie

Hi all,
Quick question - I have just opened a current account with BOI and all my household bills will come out of this every month by direct debit will this qualify for the 3 bill pay transactions a quarter?

Many thanks in advance

Little Miss

100gSoma

Little Miss Cutie wrote: »

Hi all,
Quick question - I have just opened a current account with BOI and all my household bills will come out of this every month by direct debit will this qualify for the 3 bill pay transactions a quarter?

Many thanks in advance

Little Miss

It says in the terms

"Customers can qualify for free account transaction fees by maintaining a minimum credit balance of €500 in their account for the entire fee quarter, or by making at least three payments from their current account using 365 Phone, 365 Online or a combination of 365 Phone and 365 Online during the relevant fee quarter"

I don't know if a Direct Debit qualifies as an online payment?

Little Miss Cutie

I think I will just have to ring them and find out as I dont manually pay any bills from that account it is all done by DD both into and out of the account.

Sadly the house account doesn't always have €500 in it

Toots

Hi Little Miss Cutie, unfortunately Direct Debits do not count as a payment out. You need to pay bills or transfer money online out of your account for it to count. Have you a credit card or another account? What I usually advise customers to do is to make one small transfer a month (it can be 1c if you like) to the credit card or other account. This will count for your online or phone transaction, and you will then get free banking.

Little Miss Cutie

Toots* wrote: »

Hi Little Miss Cutie, unfortunately Direct Debits do not count as a payment out. You need to pay bills or transfer money online out of your account for it to count. Have you a credit card or another account? What I usually advise customers to do is to make one small transfer a month (it can be 1c if you like) to the credit card or other account. This will count for your online or phone transaction, and you will then get free banking.

Great advice - thanks Toots, I will do a transfer each month for a small amount and will be able to bank for free.

Thanks again - I wish you were my bank manager!!

100gSoma

Little Miss Cutie wrote: »

Great advice - thanks Toots, I will do a transfer each month for a small amount and will be able to bank for free.

Thanks again - I wish you were my bank manager!!

just remember, you cannot drop below 500euro ni the account at any point during the fee paying quarter.

fifib

100gSoma wrote: »

just remember, you cannot drop below 500euro ni the account at any point during the fee paying quarter.

thats only if you dont do the 3 payments out of your account in the quarter...its one or the other

I usually transfer 3 x €1 from my current a/c to another. takes 5 mins tops!

Toots

Little Miss Cutie wrote: »

Great advice - thanks Toots, I will do a transfer each month for a small amount and will be able to bank for free.

Thanks again - I wish you were my bank manager!!

You're welcome!

stepbar

100gSoma wrote: »

just remember, you cannot drop below 500euro ni the account at any point during the fee paying quarter.

Incorrect, it's one or the other.

For some reason people have an inability to google this info themselves-

AIB - http://www.aib.ie/personal/home/Fees-and-Charges
BOI - http://www.365online.com/about/fees.html
PTSB - https://www.permanenttsb.ie/aboutus/needhelp/productsupport/bankingcharges/
Ulster - http://www.ulsterbank.ie/documents/roi/Guide_to_Personal_Account_Fees_and_Interest.pdf

almalahide

PDF wouldnt open for me with UBank, probably my computer. Can anyone tell me for Ubanks standard current account what charges there are? Standing orders etc etc? Do they charge for setting up an overdraft? I know Halifax didnt but BOI did when I was with them years ago.

100gSoma

stepbar wrote: »

Incorrect, it's one or the other.

For some reason people have an inability to google this info themselves-

AIB - http://www.aib.ie/personal/home/Fees-and-Charges
BOI - http://www.365online.com/about/fees.html
PTSB - https://www.permanenttsb.ie/aboutus/needhelp/productsupport/bankingcharges/
Ulster - http://www.ulsterbank.ie/documents/roi/Guide_to_Personal_Account_Fees_and_Interest.pdf

No need to be rude. I'm sure its difficult for some people to read through pages of PDF documents to find this information. It actually took me a while to even find the fees and terms PDF on the UB website, so I understand people asking for this information. I'm sure 99% of the questions on here can be answered if the people took the time to research it themselves. Hardly the point of a 'forum' though is it?

stepbar

100gSoma wrote: »

No need to be rude. I'm sure its difficult for some people to read through pages of PDF documents to find this information. It actually took me a while to even find the fees and terms PDF on the UB website, so I understand people asking for this information. I'm sure 99% of the questions on here can be answered if the people took the time to research it themselves. Hardly the point of a 'forum' though is it?

Seriously....

I spent less than 5 minutes constructing the whole post. It's quite lazy of people to expect other people to provide this sort of basic info.

Toots

stepbar wrote: »

Seriously....

I spent less than 5 minutes constructing the whole post. It's quite lazy of people to expect other people to provide this sort of basic info.

Some people aren't all that net savvy though. They may be able to use boards because someone showed them how to do it, but they might not be able to navigate to the relevant bits of the banks websites. Or they might just want someone to explain it to them a bit more clearly.

100gSoma

stepbar wrote: »

I spent less than 5 minutes constructing the whole post. It's quite lazy of people to expect other people to provide this sort of basic info.

I think Toots highlighted a couple of very valid reasons why people may need assitance locating this basicinformation. I'm sure there are many other valid reasons (excluding laziness) that preclude some people from finding this information easily. Have you ever heard of Dyslexia for example? Searching for particular fees on a banks website is a nightmare I imagine. Just putting it out there, that its not always laziness thats the motivator behind seemingly simple requests.

stepbar

100gSoma wrote: »

I think Toots highlighted a couple of very valid reasons why people may need assitance locating this basicinformation. I'm sure there are many other valid reasons (excluding laziness) that preclude some people from finding this information easily. Have you ever heard of Dyslexia for example? Searching for particular fees on a banks website is a nightmare I imagine. Just putting it out there, that its not always laziness thats the motivator behind seemingly simple requests.

Yes, probably have a mild version of it myself.

And yes, I put a lot of it down it's lazyness. Google is your friend.