New Bank of Ireland fees to hit more customers

fordefitz

anyone out there who has moved their account? do you need to contact all DD's employers etc. and re-arrange?

DAT64

The new bank where you open account will switch everything for you but you need to advise employer or anyone who credits your account of your new account number.

snaps

Even tough i have 4k in my current account and more than 1k going in each month, i got hit with 24€ charges, all because i never made 9*365 payments.

Tails142

Yeah got hit with charges too, bullsh*t

William Powell

snaps wrote: »

Even tough i have 4k in my current account and more than 1k going in each month, i got hit with 24€ charges, all because i never made 9*365 payments.

€24 sounds alot? How many transactions?

Also isn't it 3k minimum balance for the period so you must have gone below that at some stage?

dowtchaboy

William Powell wrote: »

€24 sounds alot? How many transactions?

Also isn't it 3k minimum balance for the period so you must have gone below that at some stage?

No - it's 3k lodgements - you can withdraw say 500 from the ATM and walk in the door and lodge it back - and it counts as a 500 lodgement!
I got hit and kicked up **** - been with BofI for 40 years etc - that did no good - when the assistant manager gave me the 'well if you want to reduce your fees to zero there's and easy way...blah blah 3k blah 9 internet transactions...' - I very loudly said in front of the whole place "In fact there's an easier way to reduce my Bank of Ireland fees to zero - and that is to close my account here" - so I got bumped up to the manager and got it refunded. He confirmed that say paying my Visa €100 by making 10 x €10 internet payments would fulfil the conditions.

My fees were 15 or so - all those Pass withdrawals, cheques, standing orders, etc - they do add up.

William Powell

dowtchaboy wrote: »

No - it's 3k lodgements - you can withdraw say 500 from the ATM and walk in the door and lodge it back - and it counts as a 500 lodgement!
I got hit and kicked up **** - been with BofI for 40 years etc - that did no good - when the assistant manager gave me the 'well if you want to reduce your fees to zero there's and easy way...blah blah 3k blah 9 internet transactions...' - I very loudly said in front of the whole place "In fact there's an easier way to reduce my Bank of Ireland fees to zero - and that is to close my account here" - so I got bumped up to the manager and got it refunded. He confirmed that say paying my Visa €100 by making 10 x €10 internet payments would fulfil the conditions.

My fees were 15 or so - all those Pass withdrawals, cheques, standing orders, etc - they do add up.

I think you missed the point, there are two possible options...

http://personalbanking.bankofireland.com/current-accounts/standard-current-account

It's easy to automatically qualify for free day-do-day banking transactions in a fee quarter:

Over the course of a fee quarter3, lodge4 at least €3,000 to your Personal Current Account AND make 9 debit payments5 from that account using Banking 365 Phone and/or Online

(This is the equivalent of €1,000 net salary lodgement per month and 3 payments made per month)

Or

Maintain a minimum credit balance of €3,000 in your Personal Current Account throughout the full fee quarter

So my point was even though snaps said he had 4k in his account he must have gone under 3k over the charging period.

dowtchaboy

yes you are absolutely correct re the option of maintaining a balance of €3k - this option is so far from my capability right now that I did not even consider it!:(

Smcgie

Firstly in knew the fees were in the pipeline but this is just madness!

Here's the transactions from May-Aug 2011:

Direct debits - 10 @€;0.28 = €2.80
Direct credits - 15@€0.28 = €4.20
Standing orders - 13@ €0.28 = €3.64
Banking 365 = 33@ €0.28 = €9.24
cheques - 3@ €0.28 = €0.84

TOTAL FEES - €20.72

I know there is criteria out there to meet for 'free' banking but it's a disgrace after all them transactions I'm charged that much. I am not putting up with that.

What bank can I move too to stop this. I have 3 BOI accounts and I'm closing them all.

Thanks

Smcgie

I should note there is a five figure sum in my account too.

seamus

Smcgie wrote: »

I should note there is a five figure sum in my account too.

00010?

Seriously though, one of the criteria is that if you have €3,000 in the account for the duration of the quarter, you won't be charged.

So I would query it with them. Because if you didn't start the quarter with more than €3k in your account, then you must have lodged more than €3k into the account, which would also qualify you for free fees.

So you shouldn't have been charged if you actually do have a five-figure sum in your account.

Smcgie

I rang them there. Out of the 33 365 online payments 6 of them where to beneficiaries and that needs to be 9 to 'meet' the crtiera.

Hahaha I'm laughing here this is so pathetic. Goodbye bank of Ireland.

Is ulster bank any good for current accounts without hidden fees?

tribesman78

Smcgie wrote: »

I rang them there. Out of the 33 365 online payments 6 of them where to beneficiaries and that needs to be 9 to 'meet' the crtiera.

Think i got away with the fees this quarter by upping my 365 transactions, but you have me worried now, what is classed as a beneficiary?

filmbuffboy

Smcgie wrote: »

I rang them there. Out of the 33 365 online payments 6 of them where to beneficiaries and that needs to be 9 to 'meet' the crtiera.

Hahaha I'm laughing here this is so pathetic. Goodbye bank of Ireland.

Is ulster bank any good for current accounts without hidden fees?

Yeah im with ulster bank and their current account has no strings attatched fee free banking for normal day to day transactions.

No, how long Ulster bank stay fee free remains to be seen

Norderburse

+1 for Ulster Bank....their standard current account with Visa Debit has been free for ages; I was with them for years, moved to Halifax for the Visa Debit and back again when Halifax left - cannot understand anyone paying AIB or BOI for the use of their money, there are alternatives!

Kennie1

obviously there is some kind of cost for services let it be debit or credits but in BoI the more you use their service the less they charge you? Did you ever hear of anything so stupid. Don't need a degree in business to know that the more you use a service the more you pay. No wonder these pircks almost went bankrupt.

dobsdave

Smcgie wrote: »

I rang them there. Out of the 33 365 online payments 6 of them where to beneficiaries and that needs to be 9 to 'meet' the crtiera.
......

What does that mean?
I also have 3 accounts but just do 9 transactions between the three accounts (totaling 3000 euro) to avoid the charges.

niallam

I havent paid fees in years and im with AIB. 1 direct debit, 1 CC transaction and 1 laser transaction i think or something like that, not 100% sure. It does mean you have to have a CC with them though afaik.

FetchTheGin

dobsdave wrote: »

What does that mean?
I also have 3 accounts but just do 9 transactions between the three accounts (totaling 3000 euro) to avoid the charges.

You shouldn't have to do that.

I recommend either Permanent TSB or Ulster bank OP.

celticbest

Current Account Transaction Fees

We offer two pricing options on our standard Personal Current
Account:

If you have more than 40 transactions per quarter, the Flat Fee
option of €11.40 for up to 90 transactions is the better one for
you. You can switch between the two options at any stage by
contacting your branch. The change will take effect from the
beginning of the next fee quarter.

Free Transaction Offer

From the fee quarter starting 21st F ebruary 2011,
• Lodge7 at least €3,000 to your Personal Current Account

AND

• Make at least 9 debit payments from that account using
Bank of Ireland 365 Phone and/or Online

OR

• Maintain a minimum credit balance of €3,000 in your current
account throughout the full fee quarter.

If you qualify for this offer, this means you will not be charged
28c for each transaction or €11.40 account transaction fees
for that fee quarter.

http://www.bankofireland.com/fs/doc/wysiwyg/37-524RU%2019%20(05-11)%20(2)%20FINAL%20f_c%20Brochure.pdf

Until the 19th of Feb you had to complete 3, 365 phone or online Transactions per quarter or have €500 in your account at all times

Now you must lodge a min. of €3,000 to your account each quarter as well as using 365 Phone or Online to complete 9 payments every quarter.


I get my Salary paid into my account & do 9 €1 transactions to cover me every quarter.

2moreMinutes

niallam wrote: »

I havent paid fees in years and im with AIB. 1 direct debit, 1 CC transaction and 1 laser transaction i think or something like that, not 100% sure. It does mean you have to have a CC with them though afaik.

I'm with AIB too but dont have an AIB credit card. AFAIK, you only have to use your laser card and pay a bill using online banking every quarter to avoid paying fees. I generally try to avoid using cash and I pay all my bills online so whatever I'm doing avoids being charged.

Edit: From AIB website for anyone wondering:

How can I qualify?
You'll need to have an AIB Current Account, be registered for AIB Phone & Internet Banking and you'll need an AIB Debit Card.

To enjoy a way to bank free of maintenance and transaction fees, each fee quarter you need to:


1. Use your AIB Debit Card to make a purchase, and


2. Make a debit transaction using AIB Phone & Internet Banking e.g. pay a bill or top up your mobile

When you qualify to bank free of maintenance and transaction fees, you won't be charged the following:

Quarterly Account Maintenance Fee

AIB Debit Card Purchases **

ATM Withdrawals **

AIB Phone & Internet Banking transactions

Direct Debits

Standing Orders

Lodgements

Manual Withdrawals

Mobile Phone Top ups

Cheques

Staff assisted transactions at any AIB branch counter or An Post office

dobsdave

FetchTheGin wrote: »

You shouldn't have to do that.

I recommend either Permanent TSB or Ulster bank OP.

It takes me 10 mins every 3 months

matt70iu

Smcgie wrote: »

Firstly in knew the fees were in the pipeline but this is just madness!

Here's the transactions from May-Aug 2011:

Direct debits - 10 @€;0.28 = €2.80
Direct credits - 15@€0.28 = €4.20
Standing orders - 13@ €0.28 = €3.64
Banking 365 = 33@ €0.28 = €9.24
cheques - 3@ €0.28 = €0.84

TOTAL FEES - €20.72

I know there is criteria out there to meet for 'free' banking but it's a disgrace after all them transactions I'm charged that much. I am not putting up with that.

What bank can I move too to stop this. I have 3 BOI accounts and I'm closing them all.

Thanks

Left BOI for that very reason our OP. Ulster bank wouldn't give me a debit card, only an atm card, as I was self employed at the time and couldn't prove my income.

AIB gave me a debit card as standard with fee free banking once I paid a bill and used my laser card once a quarter. Have not paid a penny in fees and with aib 2 years.

doncarlos

Smcgie wrote: »

Firstly in knew the fees were in the pipeline but this is just madness!

Here's the transactions from May-Aug 2011:

Direct debits - 10 @€;0.28 = €2.80
Direct credits - 15@€0.28 = €4.20
Standing orders - 13@ €0.28 = €3.64
Banking 365 = 33@ €0.28 = €9.24
cheques - 3@ €0.28 = €0.84

TOTAL FEES - €20.72

I know there is criteria out there to meet for 'free' banking but it's a disgrace after all them transactions I'm charged that much. I am not putting up with that.

What bank can I move too to stop this. I have 3 BOI accounts and I'm closing them all.

Thanks

Also got this letter and was charged €13.44. Absolutely lived over this as all transactions were automated so it's not as if someone was sitting there writing out slips. Definitely going to close my account and move to Ulster Bank

philcsl

+1 for TSB

I just remembered when I saw this thread why I closed my BOI accounts 5 years ago... Ridiculous charges

No conditions with TSB, good online banking facilities too. Only issue is the lack of a branch near me!

skippy2

NIB for all the above reasons and great online banking service knocks socks off anything any irish banks are doing. One wonders can we do anything right in this country without making a mess of it. They have free banking with some small conditions that have never caused me to pick up charges

abouttobebanned

Quick look at my BOI account from the last week:

INTEREST - 8.39
NOTIFIED FEES - 50.51
SET UP S/O Charge 3.43

Daz_07

abouttobebanned wrote: »

Quick look at my BOI account from the last week:

INTEREST - 8.39
NOTIFIED FEES - 50.51
SET UP S/O Charge 3.43

I'm the same....had €23.70 taken out of my account on Wednesday as "notified fees"....joke that they charge me for lodging my salary into their bank! Esp when they can use all the customers they can get..!
Have a BOI loan with them for which they charge me for the standing order they insisted i set up to pay the loan...

Was talking about fees with mates of mine and they were shocked in this day and age I pay fees (they're UB and PTSB)..!

Would rather not move my dd's and s/o's so mite take a previous posters tip and make 3 €1 transactions each month...

Rant over. Sorry ha.

Salmon

I read a similar thread to this a few weeks ago so decided it was a good idea to make the 9 €1 transactions. As my wages are lodged into my account I guessed I would be exempt from these charges, low and behold I was charged €21 fees on three separate BOI accounts!!!! I've had enough and am off to UB, Absolutely ridiculous imo!!

Kensington

All of the banks, except Ulster Bank, now charge fees on new sign-ups.

It's very easy to qualify for free banking though, €3,000 per quarter (e.g. your wages) and 9 payments of €1 to your credit card and voila, you've qualified with BOI.