Bank of Ireland fees

Bank of Ireland: Linda

Hi antobrien,

Yes, you are correct that there is no Flat Fee option with the new schedule of fees and charges taking effect on the 19th of August 2013. Online transactions, lodgement atm's and Visa Debit card transactions will all be considered self service options and therefore charged at 20c per transaction.

Please note that Contactless transactions is currently free of charge.

I hope this clarifies your question for you.

Thanks
Linda

antoobrien

Bank of Ireland: Linda wrote: »

Hi antobrien,

Yes, you are correct that there is no Flat Fee option with the new schedule of fees and charges taking effect on the 19th of August 2013. Online transactions, lodgement atm's and Visa Debit card transactions will all be considered self service options and therefore charged at 20c per transaction.

Please note that Contactless transactions is currently free of charge.

I hope this clarifies your question for you.

Thanks
Linda

Yes, thanks.

The Ayatolla

0.20 per transaction? if thats not good enough reason for anyone to move to PTSB then I don't know what is.

JP Liz V1

So is it 68c per transaction over the counter now?

Bank of Ireland: Paula H

Hi JP Liz V1

No, from 19th August an over the counter transaction will cost 40c, automated transactions - online, phone, Apps - will cost 20c.

You can find out more information on the new fee structure here

Hope that clarifies it for you. 

Thanks for posting. 

Paula H

Bunnyhopper

My understanding is that with BoI's existing current account rules the minimum €3000 for free transactions has to be in the account for the full quarter. So anyone withdrawing that amount and going below €3000 before 16th August will get hit for fees for the current quarter.

If closing a BoI current account and withdrawing the €3000, on what date should one ask for funds to be transferred out of the account in order to avoid transaction fees in either quarter? 16th August? 19th August?

Thanks.

Bank of Ireland: Linda

Hi Bunnyhopper,

As this is very account specific, we would not be able to give a definite answer here. If you would like to pm us your full name, branch and contact number we can organise someone to contact you with the correct information.

Thank you very much

Thanks
Linda

murphaph

What is account specific about that question? Seems very general to me.

Big Vern

If i transfer money from my BOI current account to my BOI credit card im going to be charged 20cent for this as well as €5 per quarter? Also is there a 20cent charge for money going into my account, i.e. my wages every week?

Bank of Ireland: Paula C

Hi murphaph,

We are here to answer as many queries as possible , however the above question in relation to closing an account and avoiding fees is very account specific as the answer depends on what fee category a customer is on.
In order to provide the correct information, we will need to pass this on to the account holding branch to investigate.

Thanks for taking the time to post.

Paula C

Bank of Ireland: Tara

Big Vern wrote: »

If i transfer money from my BOI current account to my BOI credit card im going to be charged 20cent for this as well as €5 per quarter? Also is there a 20cent charge for money going into my account, i.e. my wages every week?

Hi Big Vern,

The €5 is a quarterly maintenance fee that we are introducing for all Personal Current Accounts from 19th August, regardless of how many transactions they have or what balance they maintain in their account.

At the moment automated credits or debits in or out of your account are charged a 28c transaction fee. From 19th August we are reducing this to 20c. Automated transactions include, but are not limited to, electronic credits like salaries, payments made with your card at point of sale, online or ATM, 365 phone or online payments, direct debits, standing orders etc.

Hope this helps to clarify things. If you do need help with any other questions, please feel free to ask.

Thanks
Tara

Piper101

Just here to vent! Have been with boi 16 years and at final straw. On Wednesday I got charged 30 euro overdraft fees thereby PUTTING ME INTO MY OVERDRAFT and today 56 euro 'notified fees'.

Finally! Goodbye boi!

Big Vern

Bank of Ireland: Tara wrote: »

Hi Big Vern,

The €5 is a quarterly maintenance fee that we are introducing for all Personal Current Accounts from 19th August, regardless of how many transactions they have or what balance they maintain in their account.

At the moment automated credits or debits in or out of your account are charged a 28c transaction fee. From 19th August we are reducing this to 20c. Automated transactions include, but are not limited to, electronic credits like salaries, payments made with your card at point of sale, online or ATM, 365 phone or online payments, direct debits, standing orders etc.

Hope this helps to clarify things. If you do need help with any other questions, please feel free to ask.

Thanks
Tara

Hi,

So just to clarify if I transfer money from one BOI accountto another BOI account, online its going to cost me money? If I get my wages paid into my account its going to cost me money?
I have just recently been hit with charges (I went under 3kin may account and its very unlikely to go back over that amount), I was under the impression that these charges were for using ATM, but transferring between my BOI accounts, online!! How is there a charge for that! Can you explain to me how that costs the bank money!

Also was just reading this link on BOI.

https://personalbanking.bankofireland.com/bank/current-accounts/personal-current-account-fees-and-charges/
How this affects our 'No Transaction Fees'Offer: If you'rekeeping a minimum balance of €3,000 in your account for the full fee quarter, to qualify for our No Transaction Fees offer, you will still have to pay the €5 quarterly maintenance fee. Please notethat we don't pay credit interest on your current account balance and you may be missing out on potential interest by maintaining a balance of €3,000 in your current account.
And in particular the bold sentence, are BOI encouraging people not to have €3000 in their accounts so they will be charged further fee's!?

Bank of Ireland: Laura

Hi Big Vern.

It has always been the case that customers incur transaction charges on all payments in and out of accounts, even when funds are being transferred between Bank of Ireland accounts.

In relation to our No Transaction Fees Offer, we have always been up front and transparent advising customers that by maintaining a minimum balance of €3000 in the account that they will not earn any interest on these funds.

Please see here for the link to the fees and charges on personal current accounts.

Hope this helps clarify the issue for you.
Laura

bidiots

This is the most patronising thread I've ever read!

paulheu

Having moved to Ireland late last year and since the company I work for banks with BOI I had my current account set up wit them. I found however they are an extremely expensive bank with a very non-customer centric approach to us 'small fish'. Charges left and right and no way to get a straight answer from anyone. Unwilling to help out on a short term financial issue well covered by money paid in to the account.

Needles to say I am in the process of switching to TSB who obviously are far more friendly towards normal working people and offer a true flat fee on transactions. Expecting people to only do 1 transaction a day for €14 a quarter is just silly. Getting charged an extra €35 for transactions is plain ridiculous. The fact that they charge these idiotic amounts for fully automated processes is bordering on being questionable practice.

1 less account to extort money from shortly. Good luck staying afloat with these money grabbing practices,

Bank of Ireland: Sean

paulheu wrote: »

Having moved to Ireland late last year and since the company I work for banks with BOI I had my current account set up wit them. I found however they are an extremely expensive bank with a very non-customer centric approach to us 'small fish'. Charges left and right and no way to get a straight answer from anyone. Unwilling to help out on a short term financial issue well covered by money paid in to the account.

Needles to say I am in the process of switching to TSB who obviously are far more friendly towards normal working people and offer a true flat fee on transactions. Expecting people to only do 1 transaction a day for €14 a quarter is just silly. Getting charged an extra €35 for transactions is plain ridiculous. The fact that they charge these idiotic amounts for fully automated processes is bordering on being questionable practice.

1 less account to extort money from shortly. Good luck staying afloat with these money grabbing practices,

Hi paulheu,

We are sorry to hear you are unhappy with the new Fee structure and are now closing your account, we will be sorry to lose you.  We wish you all the best in the future.

Regarding the figures you have included in your post, we are not 100% sure where you got them.  Can you please clarify how you got these figures?

Thanks for posting

Seán

paulheu

Hi Seán,


How I got to these figures;


Fee €11/quarter for 90 transactions (OK, it's not €14 but that's irrelevant really) that implies on average 1 transaction/day (actually less). I had a total of 161 transactions for last quarter and was charged an extra €35 because of that. To avoid charges I need to keep €3000 in my account throughout the quarter


At TSB I get charged €11/qrt regardless of how many transactions I do as long as I lodge €1500/mo.

Bank of Ireland: Sean

paulheu wrote: »

Hi Seán,


How I got to these figures;


Fee €11/quarter for 90 transactions (OK, it's not €14 but that's irrelevant really) that implies on average 1 transaction/day (actually less). I had a total of 161 transactions for last quarter and was charged an extra €35 because of that. To avoid charges I need to keep €3000 in my account throughout the quarter


At TSB I get charged €11/qrt regardless of how many transactions I do as long as I lodge €1500/mo.

Hi paulheu,

Thanks for the information.

We have reduced the charge for automated transactions from 28c to 20c.  Please see here for tips that may help you reduce your fee's if you choose to remain with us.
 

Thanks

Seán

JP Liz V1

For the €5 charge per quarter which is €20 per year correct? What is this for exactly?

Bank of Ireland: Paula C

Hi JP Liz V1,

Thank you for your post.

The €5 charge per quarter is a maintenance fee that will be charged to all personal current account users from the 19th August.

For more information on our new fee structure please see here.

Thanks,

Paula C

paulheu

Bank of Ireland: Sean wrote: »

Hi paulheu,

Thanks for the information.

We have reduced the charge for automated transactions from 28c to 20c.  Please see here for tips that may help you reduce your fee's if you choose to remain with us.
 

Thanks

Seán

The tips you provide are just bogus. I have a card to use, not to take out bulk cash from a machine to carry around, I also spend a lot of small amounts online. This becomes expensive quickly when banking with BOI where alternatives like TSB are much, much cheaper.

If I have 175 transactions/quarter I pay €35.20 in fees (and €40 come August). I pay €11/qrtr with my new bank (A TRUE flat fee, regardless of the amount of transactions). That's a quick save of well over €100/yr.

As I said before, I and many people at the place I work are with BOI because our company is and it was convenient to set up when we started work. I know of many people here who are switching next month due to the fees alone, from our team there's 6 out of 10 people who are now with BOI and 5 are switching next month. Any new arrivals I would not recommend BOI due to the fees.

holidaysong

Hi, I was charged €23 in Notified Fees last Quarter. Could you advise if the €11.40 flat fee is still an option now under this new fee structure and if so how can I avail of it in order to save some money?

If I need to contact my branch can you please give me an email address for the Ardee branch?

Thanks.

paulheu

@holidaysong

No, from 19 August you are charged €0.20 per 'electronic' transaction. From the site;

New Fee Structure from August 19th 2013

• Free Contactless payments until 18th August 2014
  
• 20c for Automated Transactions e.g. Visa Debit Card, ATM, direct debits, standing orders and 365 phone/onlineand Mobile Banking transfers
  
• 40c for Paper/Staff Assisted Transactions e.g. Cheque/paper lodgements and withdrawals over the counter using paper or Visa Debit card
• A maintenance fee of €5 per quarter

If you were charged €23 notified fees (which means you made about 42 transactions beyond the 90 allowed on the 'flat' fee). From 19th August the same number of transactions would set you back € 31 (€26 for 132 transactions + €5 admin fee) so you'll come out about the same. If you're like me and do a lot of small transactions it's quite expensive though.

Bank of Ireland: Linda

Hi holidaysong,

The flat fee option will no longer be an fee option for customers. 

From your post, it appears you may benefit from the new transaction fees as if you are currently on the Pay as you go option and was charged €0.28, you would have about 82 transactions. If these are all on our self service facilities it will be €0.20 per transaction. It means you will be charged €16 plus the €5 maintenance fee.

If you check your last quarters usage of the account, it will give you a better indication.

I hope this answers your question.

Thanks
Linda

murphaph

Bank of Ireland: Linda wrote: »

From your post, it appears you may benefit from the new transaction fees as if you are currently on the Pay as you go option...

If he was on the PAYG option he was just on the wrong option and should have been on the flat fee option. No more no less. NO CUSTOMER will benefit financially from the new fee structure unless they were on the wrong option previously. The bank could have easily identified those on the wrong option and moved them to the cheaper option or at least advised them to move if the motives of the bank were anything other than revenue.

JP Liz V1

Bank of Ireland: Paula C wrote: »

Hi JP Liz V1,

Thank you for your post.

The €5 charge per quarter is a maintenance fee that will be charged to all personal current account users from the 19th August.

For more information on our new fee structure please see here.

Thanks,

Paula C

Maintenance for what exactly thought?

mckildare

paulheu wrote: »

At TSB I get charged €11/qrt regardless of how many transactions I do as long as I lodge €1500/mo.

Paulheu,

If you lodge the 1500/month then you shouldn't get charged at all, even more savings! €12 is the most you will pay per quarter.

paulheu

mckildare wrote: »

Paulheu,

If you lodge the 1500/month then you shouldn't get charged at all, even more savings! €12 is the most you will pay per quarter.

Well there you go...  

TSB account was opened yesterday, the BOI account will be closed in a week. My colleagues are also opening accounts this week..

Bank of Ireland: Linda

Hi murphaph,

We have answered this question previously on other threads.

Bank of Ireland: Linda wrote: »

Bank of Ireland do not move customers to any fee category, if you had selected the Pay As You Go option, you are still on Pay As You Go. If you had selected the Flat Fee option previously, you would still be on the Flat Fee option. Customers would have to request the change by either contacting your branch or Banking 365 on 0818 365 365.

As Bank of Ireland does not know what usage a customer will have on their own account, we would have advised customers to review periodically. We feel the new fees structure will allow customers to keep an eye on their transactions easier and to allow customers to decide how they bank.

Thanks
Linda