Getting charged bank charges because im poorer

tunedout

Linoge wrote: »

What savings account is paying 4%??

http://www.ulsterbank.ie/roi/personal/saving/regular-savings/sida.ashx

preddy

Nearly vomited in my mouth yesterday when i got my AIB charges statement.

I would take my business to UB but for their recent problems, less transactions for me.

weldoninhio

It is absolutely shocking that in this day and age that a company should try to reduce their operating costs and charge people for their transactions!! I mean, the computer systems they use are free aren't they? G4S deliver the cash to them for free, don't they?? The staff are volunteers who work for free, aren't they.

The cheek of them trying to make money rather than just going back to the govt for even more money.

It's 20c per transaction!!!

Steven81

I am with BOI and you have to make 9 365 transactions in a quarter and have 3k i think going into your account in that time you dont have to pay the fees. I make 9 one euro transactions into my credit card, simple as!!.

fishy fishy

Steven81 wrote: »

I am with BOI and you have to make 9 365 transactions in a quarter and have 3k i think going into your account in that time you dont have to pay the fees. I make 9 one euro transactions into my credit card, simple as!!.

I prefer not to be dictated to about my own money

I'm not really a fan of their "do this...or else" mentality.

WhatNowForUs?

BizzyC wrote: »

They all have to bring in charges.
There's an amazing amount of people out there who think banking should just be free.

They offer an optional service and do so to make money.
The reason it's free when you have over X amount is that the bank can make money off of the balance you've put on their books if it's large enough.
If the amount you've got in your account is too low, they can't make money from it and have to charge you fees instead.

If you dont want to pay for the service, then dont use it.

Banking is not optional anymore. Payments from work into accounts, cheaper Bill payments for electricity gas etc, paying for any large items and I may be wrong here but is there some regulation on payments for large assets through hard cash in so far as it's not allowed (Fraud or something).

Ush1

Banks aren't charities or care workers.

They are businesses. The more money you give them, the more they can make off of said money so they will naturally offer more incentives to people who give them more money.

In saying that I'm with Ulster which is a free current account and I find them very good.

JamieKCCO

Bank of Ireland refused me an overdraft because my account kept going into overdraft...

Fromthetrees

Take all of your money that you need for the week out in one transaction and pay your bills in cash through the post office who don't charge fees.
Ideally you should get paid in cash but that's simply not possible for most people.
I keep my savings in the credit union and they don't charge me for the 'privilege' of me giving them my money.
In the wise words of Charlie Sheen,
The post office and the credit union = 'WINNING'.

readyletsgo

preddy wrote: »

Nearly vomited in my mouth yesterday when i got my AIB charges statement.
I would take my business to UB but for their recent problems, less transactions for me.

I was the same yesterday! I got the letter too, a charge of €29.00 to be taken out on the 17th sept.
Didnt realise I used ATM's so much! and Being charged for paying extra into my AIB loans online. My last 'bill from AIB was €14

So from now on, on pay day, I will be taking all I need out in one go and leave the rest for bills, let it build up as much as I can and then do one big transfer to my loans once a month.

Very hard to do when you earn very little money each week.

Ush1 wrote: »

Banks aren't charities or care workers.

They are businesses. The more money you give them, the more they can make off of said money so they will naturally offer more incentives to people who give them more money.

In saying that I'm with Ulster which is a free current account and I find them very good.

I completely understand this, banks are businesses and are there to make money like any other business, of course.

BUT! The only reason people mainly use banks is due to its the only way to get paid your weekly/monthly wage, no company is going to go back to giving you cash in an envelope with a little detailed payslip like they used to.

This is what pisses me right off, the fact that we HAVE to use bank a/c's for everything and get charged for the privilege to have our hard earned money put into a bank where we have to withdraw it some how and get charged to do it.

If I had the option of being paid with cash with a payslip etc, I would take that in a heart beat! I cant be the only person who thinks this.

Also, with Ulster Bank, when AIB introduced the charges in Mar/Apr I set up new a/c's with UB, it took ages to do, was a pain in the hole and when I got it all set up, a few months later, the problems started and I was counting my lucky stars I didnt inform my payroll about my new a/c's as I would have been fcuked for money for near over 2 months. So its a no to Ulster bank from me.

I have my UB a/c's sitting there open, but I have a fear of UB now due to the massive fcuk up that was the last two months. I hope everyone remembers that RBS sorted their english customers out within a week or two but left the Irish customer for 2 months, going into branches with proof that they had money in their account and doling it out SLOWLY.... Just like the olden days...

And all banks are introducing charges at some stage over the next year so you can't win which ever bank you go to.

:mad:

parc

weldoninhio wrote: »

It is absolutely shocking that in this day and age that a company should try to reduce their operating costs and charge people for their transactions!! I mean, the computer systems they use are free aren't they? G4S deliver the cash to them for free, don't they?? The staff are volunteers who work for free, aren't they.

The cheek of them trying to make money rather than just going back to the govt for even more money.

It's 20c per transaction!!!

Lol. You're pretty f-ing clueless if you believe that.

I live in the UK where it's totally free to have a bank account, withdraw money and use your debit card. I also have an AIB account and was gobsmacked that they charge 4 quarterly charges (thought it was about 5euros per year) along with 20c to withdrawn your own cash.

It's absolutely bonkers. Banks make their money from the funds that people lodge with them. Charging is pretty much unbelievable. I'll be closing my AIB account as soon as I can

weldoninhio

parc wrote: »

Lol. You're pretty f-ing clueless if you believe that.

I live in the UK where it's totally free to have a bank account, withdraw money and use your debit card. I also have an AIB account and was gobsmacked that they charge 4 quarterly charges (thought it was about 5euros per year) along with 20c to withdrawn your own cash.

It's absolutely bonkers. Banks make their money from the funds that people lodge with them. Charging is pretty much unbelievable. I'll be closing my AIB account as soon as I can

The UK is a huge market compared to Ireland. I do agree that it is gobsmacking that there would be 4 quarterly charges, who'd have thunk that??

RE: The bit in bold, if someone is only using their a/c for wages in and monthly bills etc, the bank is going to make nothing off them. Hence the charges on those a/cs with less than E2500 in them.

Mimikyu

This post has been deleted.

Pottler

fishy fishy wrote: »

this is what to do.

go to your aim bank and withdraw all your money VIA THE ATM

if you withdraw over the counter, they will take further charges from you for the "charges that occurred since the last charges" don't let them do that - take
your money out from the ATM. That way you will get all your money.

Then toddle on up to Ulster bank - who are a much more friendly, fair bank who do not have charges and lodge your money there.

wanders up to ATM. Punches in the "withdraw all money" buttons. Recieves daily allowance of €650.00. Wonders where all the rest is, still. Walks off, dissatisfied with Boards.ie advice.