Changes to fees on current accounts?

Sar_Bear

Like another poster said, I don't read those papers, didn't see it on fb/twitter, nor am I ever in a bank. So stumbling across this thread has been a bit of a shock.

I've had a BoI account since 1991, and this is the first time I've been unhappy with them. With paying my bills with 365 & my wages going in every week, paying rent, along with other reasons I need to use my card, I feel this is going to be the reason I switch banks & I'm very disappointed.

BoI are handling this whole thing terribly.

Bank of Ireland: Tara

Hi All,

Thanks for your all posts, we will continue to forward all feedback received here to our Branch Network.

Hi niallo27,

niallo27 wrote: »

I have been paying about 45 euro fees every quarter for the last few years, should i have been paying these if i have had over 10 grand going into and loads of normal day to day transactions.

Bank of Ireland: Linda wrote: »

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.

Please also note that if you would like to qualify for the free banking, debit transactions that would qualify:
-debit payment from the account in question to another of your own accounts.
-debit payment out of your own account into a 3rd party account.
-pay a bill like a credit card or utility bill
-to top up your phone using banking365 phone or online.

The following do not qualify:
-Automated transactions such as direct debits and standing orders.
-Laser card transactions of any type.

If you have met either of the criteria then you should not have been charged fees. If you contact Banking 365 or your branch, a representative will be happy to look into this for you.

Hi mhtc,

mhtc wrote: »

Fees for electronic transactions in a shop or for online banking, seriously, why even bother sending out the new visa debit cards! It makes absolutely no sense to use them for what they were intended for.

The current account transaction fee for contactless payments in Euro within EU and EEA will be waived until 30th April 2013.

Hi wmpdd3,

wmpdd3 wrote: »

The person on the phone told me the €11.40 per quarter was for unlimited transactions not 90.

Bank of Ireland: Linda wrote: »

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.

Apologies that you were provided with conflicting information, we will pass this on to Banking 365.

Hi calex71,

calex71 wrote: »

Got stung this week for €8.12 in fees and haven't put my card in a slot once, only income to the account is my rent supplement which is then moved to pay the rent every month, all online.

Just to clarify, the 28c transaction fee applies to all transactions in or out of your account, not just card transactions.

We are sorry to hear about your experiences in the branch, we have passed on your feedback to our Branch Network. We're introducing new technology into our branches which we hope will make lodging and withdrawing to/from your account more efficient.

Hi Sar Bear,

Sar_Bear wrote: »

Like another poster said, I don't read those papers, didn't see it on fb/twitter, nor am I ever in a bank. So stumbling across this thread has been a bit of a shock.

As our presence on social media is relatively new, we needed to decide on the most suitable approach. We appreciate there was a delay and apologise for this.

Thanks again for all your feedback and suggestions.
Tara

daheff

Bank of Ireland: Tara wrote: »

As our presence on social media is relatively new, we needed to decide on the most suitable approach. We appreciate there was a delay and apologise for this.

Thanks again for all your feedback and suggestions.
Tara

Hi Tara,

why not have sent a text message (with a link for smartphone users) to people to advise there are changes to fees coming? Or god forbid- old school letters (since you have all these addresses & phone numbers)

Bank of Ireland: Pat

Hi daheff,

Thanks for your suggestions. We'll forward them on to our Group Communications Department.

Thanks
Pat

inforfun

Ridiculous.

At the same bank where i have a 5 figure amount in a savings account, for them to use to make money with, i now have to make sure i keep 3000 in another account in order not to get charged 28 c when my employer pays me, when i pay for my shopping, when i pay a bill, when i sent money to another savings account, any time i use an atm or pay in a shop with a card?

Usually i like to kiss first before i get screwed.

daheff

another question is why are BOI's fees higher than AIBs (20c a transaction)? Are AIB that much more (40%) more efficient at processing transactions than BOI?

Bank of Ireland: Billy

Hi daheff,

We cannot comment on other banks charges.

Thanks

Billy

phil1nj

I've been a BOI customer since 1992. I'll be taking a chunk of my savings and putting it on depoist in my current account to avoid paying these fees. I'm not overally fond of doing this but I'll be damned if I'm paying 28cent per transaction to a bank that has done pretty well off me over the years (credit cards, loans, savings accounts etc). And now they want 3K of my money to sit dumb and happy in an account gaining no interest.....fair enough but this is beginning to have all the hallmarks of a cartel between the main players (just waiting for PTSB to announce a change to their banking practice shortly).

Brian2850

Bank of Ireland: Billy wrote: »

Hi daheff,

We cannot comment on other banks charges.

Thanks

Billy

You cannot comment on other banks charges yet they have a huge bearing on your policy. The most disturbing aspect of this whole issue is that BOI amended their recently introduced banking charges when they saw AIB's were more penal than thiers. The states policy on banking was to support the two pillar banks so we have some form of competition in the market. Some competition this is!

The last time BOI and AIB colluded like this was September 2008 and the Irish people didnt get a great deal on that one either!

luketitz

Do you really expect the BoI customer support guys here to be able to actually solve any of your woes?

They're simply following orders and dropping canned responses such as 'we'll pass it along to the relevant team' etc.. the truth is they're powerless to actually implement any real change here, despite their 'good intentions'. The recipient of said feedback will undoubtedly be bound by the same principles of company policy - shareholder profit maximisation, rather than the (long betrayed) fiduciary duty to it's retail customers.

If any of the discernment displayed within this thread is to be taken onboard by the key decision makers at BoI - upper management responsible for making introducing these measures - their bottom line must suffer first and foremost. That can only be achieved by loyal BoI customers voting with their proverbial feet and moving elsewhere.

I personally have no major beef with the bank for introducing this new charge as I'm fortunate to be able to avoid the fees under the stated criteria and I've always felt it was only a matter of time before the sheep mentality kicked in and all banks chose to reap the dividends from another exploitable inroad into bleeding their 'loyal' patronage dry.

Is anyone really surprised by this latest kick in the teeth to the average working class earner?!

harolds57

A disgrace these bank charges. as many user say whats the point in giving out these visa/debit cards, certainly wont be using mine even if your holding off till april next year to start charging for these. And for people to say they have to make a profit they do when i leave my money in the account and the only reason bank of ireland is still around is because of tax payers money.

A question or two for trhe bank of ireland team.

Do you have just a atm card that i can get? not a laser or visa/debit.

When i get paid if i go down to my branch and with draw money at the counter of my branch am i charge for this?

I know Ulster Bank had its problems but from what i hear they have there software updated now and its all done and dusted, but the other banks are still running older systems and still have to upgrade there software at some stage. Im sure they will have learned a few lessons but seems to me to start banking at ulster bank now with no account charges would be a very good move.

leinster93

Just to pass on my feedback to BOI - I've been a customer since 1979 and have done all my business down through the years. I'll be moving to another bank in the coming days as a direct result of the new changes being imposed. All I can say is to those who have decided on imposing this on its' customers is to "COP ON"...

dublin daz

harolds57 wrote: »

A disgrace these bank charges. as many user say whats the point in giving out these visa/debit cards, certainly wont be using mine even if your holding off till april next year to start charging for these. And for people to say they have to make a profit they do when i leave my money in the account and the only reason bank of ireland is still around is because of tax payers money.

A question or two for trhe bank of ireland team.

Do you have just a atm card that i can get? not a laser or visa/debit.

When i get paid if i go down to my branch and with draw money at the counter of my branch am i charge for this?

I know Ulster Bank had its problems but from what i hear they have there software updated now and its all done and dusted, but the other banks are still running older systems and still have to upgrade there software at some stage. Im sure they will have learned a few lessons but seems to me to start banking at ulster bank now with no account charges would be a very good move.

You can get an ATM card linked to a deposit account and you wont pay any fees.

The drawback is you can't setup direct debits or use Visa Debit.

Also the card only works in Bank of Ireland ATM machines.

Bank of Ireland: Tara

Hi harolds57,

harolds57 wrote: »

A question or two for trhe bank of ireland team.

Do you have just a atm card that i can get? not a laser or visa/debit.

It is possible to request an ATM only card, please be aware this card type cannot be used outside Ireland. If you contact your branch, a representative will be happy to organise this for you.

harolds57 wrote: »

When i get paid if i go down to my branch and with draw money at the counter of my branch am i charge for this?

As mentioned above, the 28c transaction charge applies to all transactions in or out of your account.

Hope this helps,
Tara

harolds57

Hi Tara,

Just on the 28c transaction charge applies to all transactions in or out of your account does this mean any movement of cash when im on internet banking 365 is charged at 28c.

Thanks

Bank of Ireland: Billy

Hi harolds57,

The 28c transaction charge applies to all transactions in or out of your account and this includes 365 Online/ATM withdrawals, etc.

Thanks for the query.

Billy

harolds57

So having crippled the country with your bailouts, and given us no future for our kids, this is how you repay us. Still robbing the people of Ireland for your own greed.

Please will people vote with their feet and leave Bank Of Ireland.

cathy427

Hi Bank of Ireland guys,

I am not complaining to you as I know you are just here as part of customer service and didnt make these decisions but yet have an at least "semi" customer facing role here.

I am not going to get to do an exit interview with B of I so you might just pass on my feedback to the relevant sections.

-Had a student account with B of I
-Had a post grad account with B of I (in a different uni)

-Starting working had current account with B of I,

-Had 3 car loans with Bof I, mortgage with Bof I,
-Credit card with B of I.

Obviously times are tight for everyone and this house is no different and income is way down (not looking for sypmathy, it is how it is)
Have kept up all payments and utilities, got rid of sky tv, cut out the luxuries.

So ya the charges are "only" €50 a year but a 50 too far,
so this long term customer who B of I have made good money from over the years moved lock stock and barrel to Ulster Bank this morning after BofI being my bank of choice for a long number of years;
likely never to return.

otto_26

Hi,

I'm a bit confused im a recent graduate with a BOI graduate account.

Firstly will I get charged for withdrawing money using a BOI ATM machine with my ATM card?

Secondly will I get charged for using my new direct debt card for buying goods in a shop ie Tesco??

Bank of Ireland: Tara

Hi cathy427,

Thanks for posting.

We're sorry to hear you have decided to close your accounts with us. We will forward on your comments and feedback to our Branch Network.

Hi otto 26,

otto_26 wrote: »

I'm a bit confused im a recent graduate with a BOI graduate account.

Firstly will I get charged for withdrawing money using a BOI ATM machine with my ATM card?

Secondly will I get charged for using my new direct debt card for buying goods in a shop ie Tesco??

We've had a similar question earlier on this thread.

Bank of Ireland: Pat wrote: »

As long as you still hold a Graduate Account with us you will not incur transaction charges. Normally a Graduate Account will revert back to a Standard Current account after two years.

Thanks,
Tara

jinxremoving

Hi,

just to clarify a few points

-I was charged 18euro in fees this quarter, is the cap flat rate not 11.40? is this automaticly applied or do i have to do it manually?
-transactions in are also charged at 28c? so each time I get paid, it costs 28c?
-I have a loan with BOI that is taken by direct debit each week. is it possible to close my current account with BOI and make direct debits into the loan account with my new PTSB account?

thanks for any light you can shed on the matter.

Bank of Ireland: Graham

Hi jinxremoving,

jinxremoving wrote: »

I was charged 18euro in fees this quarter, is the cap flat rate not 11.40? is this automaticly applied or do i have to do it manually?

You need to opt in to the flat fee option of €11.40 per quarter for up to 90 transactions. To do this, please contact Banking365 on 0818 365 365, or you can send a written request to your account holding branch.

jinxremoving wrote: »

transactions in are also charged at 28c? so each time I get paid, it costs 28c?

Yes, all transactions in or out of your account are charged at 28c each.

jinxremoving wrote: »

I have a loan with BOI that is taken by direct debit each week. is it possible to close my current account with BOI and make direct debits into the loan account with my new PTSB account?

It is possible to pay your BOI loan from another bank account. However, you'll need to discuss closing your existing direct debit with the Lending Advisor in your branch.

If you have any other queries, please let us know.
Thanks,
Graham

vicwatson

Bank of Ireland: Linda wrote: »

Hi Mrsbananas,

We placed advertisements in both the Irish Times and Irish Independent. We have in branch literature and information on the Bank of Ireland Group website. We also continue to use social media.

Thanks
Linda

I don't buy those newspapers, am never in the branch - thanks to BOI's strategy over the last few years and don't use social media.

I am irked with BOI so much now that's its finally time for my 30 year relationship with them to end.

It's the straw that's broken the camels back - Me Win, BOI Lose

Daviddavid

La Gun wrote: »

Just cancel all standing orders direct debits take what ever money you might have out of the banks, and use a post office to pay bills with real money cash, Cancel cards, And F*ck the banks we don't really need them your paying for a convenience. Get up and do the stuff our selves it will cost less and you will actually have more money for your self when you handle the cash your self,
Any one who has €3000 in their account prob wont give a dam about charges, but if your like me and many others living hand to mouth, the banks can get stuffed, if they think they can tax me for not being well off, As a people Irish people we are too passive and the fat cats know it,

What do you work at La Gun

otto_26

Hey,

Just a quick question. I have 3rd level student current account and a BOI mastercard. If I make atm withdrawals with my mastercard in the uk and after I have made the atm transaction my mastercard is still in credit will I get charged the cross border fee?

Bank of Ireland: Laura

Hi otto 26.

Thanks for your query.

If you are using your credit card outside the Eurozone and the account is in credit, a cross border handling fee of 1.75% will apply to all transactions.
For more information on using your credit card abroad, please see here.

Hope this helps.
Laura

pokaface

Hi Linda,

What is the default fee category that will apply to customers who don't contact you?

Bank of Ireland: Tara

Hi pokaface,

Thanks for getting in touch.

When first opening an account the customer is asked which of these two fee categories they would like to opt into.  If you cannot remember which one you selected a representative in Banking365 would be more than happy to check this out for you. Alternatively, if you are registered for 365Online, you can also request this information through the Secure Inbox facility available when logged on. 

Hope this helps and if you do have any further questions, please feel free to ask.

Thanks
Tara

pokaface

This is my own back of the envelope calculation of whether it's worth it to allow 3k stagnate in a BOI account.

If you're fees are less than €20 per quarter you're better off saving that 3k somehwere you'll get a return of 2% or greater. There's a few different options out there.

After that try and limit your transactions as much as possible.

Tar.Aldarion

pokaface wrote: »

This is my own back of the envelope calculation of whether it's worth it to allow 3k stagnate in a BOI account.

If you're fees are less than €20 per quarter you're better off saving that 3k somehwere you'll get a return of 2% or greater. There's a few different options out there.

After that try and limit your transactions as much as possible.

Well there are free current/savings accounts in places. i don't know why i would stay with BOI when rabbodirect are paying me 30e to open an account, have no fees and pay interest every month. I also have free current accounts and savings accounts in tsb. Things like card replacement are also free. I know a few people that use foreign banks now.