To Avail of Bank of Ireland Current Account Fees for Free???

faolteam

ami right in saying you must lodge at least 3000 euro in 3 months and make 9 online transactions,?

what i want to know is can you make these 9 online transactions on the same day >?

Ally Dick

faolteam wrote: »

ami right in saying you must lodge at least 3000 euro in 3 months and make 9 online transactions,?

what i want to know is can you make these 9 online transactions on the same day >?

Yes. you can do the 9 transactions on one day, and lodge and withdraw the 3000 across two days, and it will work. I know, because it worked for me!

Bank of Ireland: Billy

Hi faolteam,

Thanks for the question.

As Ally Dick mentions:

Ally Dick wrote: »

Yes. you can do the 9 transactions on one day, and lodge and withdraw the 3000 across two days, and it will work. I know, because it worked for me!

You can make the 9 online transactions on the same day.

Thanks

Billy

filmbuffboy

i thought you had to keep 3000 in your account at all times to avail of free banking?

dobsdave

filmbuffboy wrote: »

i thought you had to keep 3000 in your account at all times to avail of free banking?

No, 3000 lodged over the quarter and 9 online transactions = no fees .

Bank of Ireland: Tara

Hi filmbuffboy,

Thanks for your question.

We have two options for the No Transactions Fee Offer.

Bank of Ireland: Linda wrote: »

There are a few options for charges on our current accounts.

The first option is the Pay as you go which is 28cent per transaction including direct debits.

The second option is the Flat fee which is €11.40 for 90 transactions and is thereafter charged at 28cent.

There is also a No Transaction Fees offer:
1) Lodge €3000 into your account (but you do not have to maintain it) AND make 9 debit payments using Banking365 phone or Banking365 online services.
OR
2) Maintain a €3000 credit balance in the account for the full quarter.

So for option 2, you do need to maintain a minimum balance of €3000 throughout the fee quarter but not for option 1.

Hope this helps.

Thanks,
Tara

filmbuffboy

thanks for the clarification!

MuddyDog

If I have a 365 Monthly Saver Account can I manually transfer 100 euro each week into the saver account from my personal account in online banking to the savings account and get free fees? I'm thinking of moving to BOI and would definitely move if this were the case. Thanks.

Bank of Ireland: Billy

Hi MuddyDog,

Thanks for posting.

The 365 Monthly Saver Account is payable by Direct Debit.
You can call Banking 365 to increase or decrease the payment however it is not possible to transfer to the account on 365 Online.

Information on the Free Transaction Offer for Current Accounts can be found here

Please note the criteria for the Free Transaction Offer for Current Accounts is changing on the next fee quarter - To qualify for the offer, customers will be required to keep a minimum balance of €3,000 per fee quarter in the account.

I hope this helps.

Billy

MuddyDog

Bank of Ireland: Billy wrote: »

Hi MuddyDog,

Thanks for posting.

The 365 Monthly Saver Account is payable by Direct Debit.
You can call Banking 365 to increase or decrease the payment however it is not possible to transfer to the account on 365 Online.

Information on the Free Transaction Offer for Current Accounts can be found here

Please note the criteria for the Free Transaction Offer for Current Accounts is changing on the next fee quarter - To qualify for the offer, customers will be required to keep a minimum balance of €3,000 per fee quarter in the account.

I hope this helps.

Billy

Thanks for the reply Billy. So when the free fee offer changes there will be only one way to avoid the fees and that is by having €3000 min balance per fee quarter in the account?

Thanks again.

Bank of Ireland: Linda

Hi MuddyDog,

The change for free banking will come into effect from the 19th of November. To qualify for the No Transaction Fee Offer you will need to maintain a minimum credit balance of €3,000 in your Personal Current Account throughout the full fee quarter.

Bank of Ireland: Linda wrote: »

Our transaction fees remain the same. There are two options available for customers.

a) Pay as you go: 28c for each transaction.

b) Flat fee option: €11.40 per quarter for 90 transactions. Transactions in excess of 90 costs 28c each.

If you wish to amend the fee category you are on before the above take effect you will need to make the amendment before 16th of November 2012. You can contact the branch or Banking 365 to discuss.

The contact number for Banking 365 is 0818 365 365.

Thanks
Linda

Tow

Bank of Ireland: Linda wrote: »

b) Flat fee option: €11.40 per quarter for 90 transactions. Transactions in excess of 90 costs 28c each.

If the Flat Fee Option per customer or per account?

Bank of Ireland: Linda

Hi Tow,

The different fee options are per account. This is to allow customers to select the most appropriate fee option based on the usage of this account.



Thanks
Linda

thefishone

Flat fee option: €11.40 per quarter for 90 transactions. Transactions in excess of 90 costs 28c each.

Is it possible to purchase two flat free options and have 180 transactions per quarter?

Bank of Ireland: Billy

Hi thefishone,

Thank you for posting.

It is not possible to have two flat fee options per quarter.

Thanks

Billy

eire_lad

So will bank of ireland be sending a letter to inform people of this or is it a case that if you dont ask,you dont get?

Cant believe this has been effective from May 2012 ( as detailed in the link BOI posted above) and i havent been told. Ive been paying uneccessary fees for last 5 months....

I currently over €3000 and have done for the last few months and yet have been receving monthly charges for banking fees...

Smcgie

eire_lad wrote: »

So will bank of ireland be sending a letter to inform people of this or is it a case that if you dont ask,you dont get?

Cant believe this has been effective from May 2012 ( as detailed in the link BOI posted above) and i havent been told. Ive been paying uneccessary fees for last 5 months....

I currently over €3000 and have done for the last few months and yet have been receving monthly charges for banking fees...

Why oh why anyone continues to jump through BOI's hoops to have "free" current account banking is beyond me!

Move to another bank, it's surprisingly easy and you will realise how out of date BOI actually are with their IT infastructure.

Don't pay anything for C/A banking!

Bank of Ireland: Billy

Hi eire lad,

Thanks for posting.

We won't be sending out letters as there were advertisements in both the Irish Times and Irish Independent notifying customers of the changes. We have in branch literature and information on the Bank of Ireland Group website and continue to use social media to communicate with customers.

The change in the criteria for the Free Transaction offer is not effective until the next fee quarter which begins November 19th.

To investigate the charges on your account, please call Banking 365 on 0818 365 365 / 00 353 1 4044000 and a representative will offer assistance.

Representative assisted hours are 8am - 12midnight Monday to Friday and 9am - 6pm Friday, Saturdays and Sundays.

Thanks

Billy

eire_lad

this link here says it effective since May 2012 on page 26

http://personalbanking.bankofireland.com/fs/doc/wysiwyg/fees-and-charges-may-2012.pdf

Bank of Ireland: Billy

Hi eire lad,

A schedule of Fees and Charges was published in May 2012. Page 26 of the PDF has the terms and conditions of the Free Transaction offer for Current Accounts at that time. These terms and conditions have not changed since then however they are due to change on November 19th.

I hope this clears things up.

Thanks

Billy

mailforkev

Bank of Ireland: Billy wrote: »

We won't be sending out letters as there were advertisements in both the Irish Times and Irish Independent notifying customers of the changes. We have in branch literature and information on the Bank of Ireland Group website and continue to use social media to communicate with customers.

The change in the criteria for the Free Transaction offer is not effective until the next fee quarter which begins November 19th.

Hi Billy,

I just stumbled upon this thread by accident.

I'm a long term BoI customer with a couple of current accounts and this is the first I've heard of the free transaction offer changing.

I do pretty much all my banking online so very rarely visit branches and, like most people these days, read my news online rather than purchasing a newspaper. It's not really a great way to inform people of a change, a little bit underhand even I'd suggest.

Just had a look at the website there and see no obvious mention of the change either, the fees and charges PDF still lists the current structure. I may be missing something so could you please post a link to the notice of change.

I'm in the lucky position of actually being able to maintain the balance required at all times on my accounts but when you're not paying me interest on it why on earth would I do that to 6k of my cash?

I honestly have no desire to leave BoI after decades of custom but I don't think I'm being left with a choice anymore.

Bank of Ireland: Linda

Hi mailforkev,

We have not updated the fees and charges yet to avoid confusion as the new criteria will not come into effect until the 19th of November 2012.

The reason the press release is located in the current account section is it refers to current accounts.

If there is anything we can help you with here, please ask.
Thanks
Linda

eire_lad

http://personalbanking.bankofireland...s-may-2012.pdf

Ive been charged banking fees of approx 20euro a month even though there has always been over 3000 euro in my account....

According to the doc released in May these charges shouldnt exist..

Bank of Ireland: Linda

Hi eire lad,

Please contact your branch or Banking 365 to investigate why these charges have applied to your account.

The contact number for Banking 365 is 0818 365 365.

Thanks
Linda

Caromom

Like mailforkev, I have been a customer of Bank of Ireland for a long time - over 30 years with both single and then joint accounts with the one branch - and my parents were BOI customers for all of their lives. I am very unhappy with this recent change in banking terms and also with the fact that BOI do not feel a need to notify me directly - I also read my daily news online and no longer buy newspapers and have not seen any of the advertisements in question - nor do I subscribe to commercial entities through social media as I could do without all the advertising. A letter to each client, a notice on Banking 365 etc would not have been a lot to ask for, particularly as BOI have now introduced the inbox in Banking 365. I am quite frankly disgusted at this requirement to keep a minimum of €3000 to maintain free banking. I never thought I would say this, but this is also enough to make me consider moving from Bank of Ireland.

Bank of Ireland: Graham

Hi Caromom,

We understand where you're coming from and appreciate you getting in touch with us here. Your feedback and comments have been forwarded to the relevant department.

Thanks for posting,
Graham

jaggiebunnet

been to 3 bank branches in cork in the past week or so and absolutely nothing anywhere to tell you about the new underhand change to charges.

where is everyone moving to btw - which bank is best for no fees ?

28064212

Ulster Bank are the only ones (AFAIK) still offering free fees, and if they weren't still trying to recover from the PR disaster that was their IT crash, they'd probably have announced they were ending them within 6 months. Now, it'll probably be the end of 2013, but it's highly unlikely it will be later than that. The era of free banking is over unless another player enters the market

Bank of Ireland: Billy

Hi jaggiebunnet,

Thanks for posting.

There should be notices in all Bank of Ireland branches.
Can you please let us know what branches you were in and we will follow up.

Thanks

Billy

Bank of Ireland: Linda

Hi everyone,

Bank of Ireland: Linda wrote: »

Our transaction fees remain the same. There are two options available for customers.

a) Pay as you go: 28c for each transaction.

b) Flat fee option: €11.40 per quarter for 90 transactions. Transactions in excess of 90 costs 28c each.

Customers can avail of 'Everyday Banking' for less then 13cent per day.
If you have more than 40 transactions per quarter, then the flat fee option may be best for you.

We are also constantly trying to improve our services available to customers. This year we have launched a mobile app, eStatements and Secure messaging through 365 online. We are consistently taking customers' feedback on board through this forum to enhance our services.

Thanks
Linda

jaggiebunnet

Bank of Ireland: Billy wrote: »

Hi jaggiebunnet,

Thanks for posting.

There should be notices in all Bank of Ireland branches.
Can you please let us know what branches you were in and we will follow up.

Thanks

Billy

Douglas, Wilton and Glanmire