Bank of Ireland fees

my switch to permanent tsb was completed today, took very little hassle and they were great I have to say

Cookie_Monster

Why are Boi penalising customers with the biggest income and most available funds (in general) while continuing to give lower income customers free banking (students, grads and pensioners) it makes no business sense. Its like they are purposely trying to lose deposits from earners...

You've lost me as a customer today after 15 years and guarenteed I'll never be one again, well done.

Bank of Ireland: Paula C

Hi Cookie_Monster,

We are here to assist all customers with general day to day banking queries, we can not discuss Bank policies here.

We are sorry to hear we may be losing your business.

Please see here for details on how to minimise or avoid fees which may be of benefit to you.

If there is anything else we can help you with in the future please do not hesitate to contact us.

Thanks,

Paula C
 

Bank of Ireland: Tara

JP Liz V1 wrote: »

Maintenance for what exactly thought?

Hi JP Liz V1,

In recent years we have invested substantially in the infrastructure associated with current accounts (branch, phone, online and mobile channels).

The maintenance fee ensures that we can continue to build on this while providing the following features and benefits to our customers:

• Access to over 250 branches and 1,500 ATMs nationwide
• Over 2,000 qualified financial advisers across the country
• 365 Online and Mobile Banking app, for iPhone and Android users, giving you access to your account both at home and on the go
• Pay to Mobile service - allows our mobile banking app customer transfer money to any registered Bank of Ireland account simply by knowing the mobile number of the account holder
• eStatements - a choice of receiving statements by pdf via 365 Online instead of paper
• Our recently revamped website with a new Help Centre where you can find answers to our customers most frequently asked questions
• Numerous customer service channels, phone email and social media presence

Thanks
Tara

bidiots

Bank of Ireland: Tara wrote: »

Hi JP Liz V1,

In recent years we have invested substantially in the infrastructure associated with current accounts (branch, phone, online and mobile channels).

The maintenance fee ensures that we can continue to build on this while providing the following features and benefits to our customers:


Access to over 250 branches and 1,500 ATMs nationwide
Over 2,000 qualified financial advisers across the country
365 Online and Mobile Banking app, for iPhone and Android users, giving you access to your account both at home and on the go
Pay to Mobile service - allows our mobile banking app customer transfer money to any registered Bank of Ireland account simply by knowing the mobile number of the account holder
eStatements - a choice of receiving statements by pdf via 365 Online instead of paper
Our recently revamped website with a new Help Centre where you can find answers to our customers most frequently asked questions
Numerous customer service channels, phone email and social media presence


Thanks
Tara

Surely transaction fees cover the costs of all this?

Cookie_Monster

Bank of Ireland: Paula C wrote: »

Hi Cookie_Monster,

We are here to assist all customers with general day to day banking queries, we can not discuss Bank policies here.

We are sorry to hear we may be losing your business.

Please see here for details on how to minimise or avoid fees which may be of benefit to you.

If there is anything else we can help you with in the future please do not hesitate to contact us.

Thanks,

Paula C

It's like you don't even read the posts...

You HAVE lost me, no may about it. I don't care about details about minimising fees, it's too late for that.
I certainly wouldn't contact you again in future, even if I need assistance this forum has proved useless on so many issues.

Bank of Ireland: Sean

bidiots wrote: »

Surely transaction fees cover the costs of all this?

Hi bidiots,

The 20c/40c charge contributes to the overall cost of a transaction.

Thanks for posting

Seán

paulheu

Not naming names (guess you know by now), but here's what is also out there;

Account maintenance fee €12 per quarter

You will not pay for any of the following: 
  • Standing order / Bill payment 
  • Direct debits-set ups & transactions
  • Direct credits-set ups & transactions
  • Telephone and internet banking transactions
  • ATM-euro withdrawals within the EU
  • Debit-transactions within the eurozone
  • Statement fee (excluding duplicate statements)
  • Counter lodgements & withdrawals
  • Cheque/paper debits
  • Credit transfers incoming (paper items)

Lodge €1500/mo each month during the quarter and you pay NO maintenance fee.


Now I'll give you the branch decoration and locations may not be as posh and 'look at us' as with BOI, but do we care? Also when opening an account they will IMMIDIATELY set up online for you on the spot, no need to wait for mail afterwards.. 


The point people are trying to make here is that BOI is about to lose a HUGE number of customers. At my place of work it appears there will be about 200-250 people switching from a quick run past the different teams. There has also been a mail circulated on this. The difference is just too great to let a savings of €160/year (for me) slip by..

The fact we are seeing template answers from reps here only goes to show BOI has no idea what they are getting into here..

Benzino

I've looked around and spoke to BoI about closing my existing account. Like most people, I am switching to PTSB.

In fairness, Bank of Ireland are not stupid. They knew this would happen, this won't come as a surprise to them. It also shouldn't come as a surprise to us when PTSB do exactly the same thing. And they will, it's not a matter of if, it's a matter of when.

paulheu

Benzino wrote: »

I've looked around and spoke to BoI about closing my existing account. Like most people, I am switching to PTSB.

In fairness, Bank of Ireland are not stupid. They knew this would happen, this won't come as a surprise to them. It also shouldn't come as a surprise to us when PTSB do exactly the same thing. And they will, it's not a matter of if, it's a matter of when.

If they expected this it is because they may have chosen to be a ' rich man's ' bank. Point here is that while they offer free services to students, the elderly they decide to alienate the vast majority of their customers banking on a notion that most of them won't even notice or care. We who did take notice and switch will still be a minority (they hope).


Will TSB follow suite? Maybe they will introduce some sort of charges in the future, but they won't be where BOI is not for quite a few years so switching will always be a good option.

As a matter of fact, TSB is operation pretty much like most banks in Europe and BOI is more in line with the UK banks where you charge for everything and anything. Sure the BOI branches look more modern, have more comfy seats and waiting area, but do we care? 


In Europe 'mainland' things can be quite different, as an example my mum (in The Netherlands) needed to send me some money she owed me but has no internet banking. She called the bank and they send her some cheques for intl. transfer. She used a wrong IBAN twice, both times she got the cheque back and a call from the bank if she needs help filling it out. All with no charge.

Here you get charged for the cheque, they'll charge for both failed transfers and they'll charge for assistance I recon.

Ally Dick

Don't believe the hype about Permanent TSB. They've sent all their IT work to India so an Ulster bank IT problem is very likely. All it takes is one maverick person

paulheu

As the saying goes; sh*t happens. To blame whatever issues on the fact a bank has their IT ran from India is short sighted at best. If that were anywhere neat a factor the IT world at large would be a pretty big mess right now.

If moving this business to India where equally qualified people will do the work for a lot less so I do not have to pay fees I'm all for it. Besides are you saying BOI does their IT in house? Could you provide us with proof of that?

paulheu

Please provide the 'substantial' amount of Irish losing their IT job because TSB outsources to India (if they do, I have nothing to back that up and am just responding to another post).

I am not generalizing here, I do believe that at least to some degree people not having jobs is up to their choice not  to take them. Ireland has plenty of jobs to go around, the vast amount of people coming in to fill them would seem an indication of that. But that is for another thread to discuss..

Xantia

Hi,
Not currently a BOI customer but from my info it is
LLoyds TSB Outsourcing to India.
and not the Irish Permanent TSB

Under it all it is sad to see customers having to move to save €100 to €200 a year in charges but that is the times that we live in.
I myself am moving after 30 odd years with AIB.
It's not their fault - years ago you knew the Bank Manager and were able to discuss and sort things out with them but now it all 'goes to head office' for approval.

paulheu

Xantia wrote: »

Hi,

Under it all it is sad to see customers having to move to save €100 to €200 a year in charges but that is the times that we live in.

While saving around €160/yr on fees I am also moving because I do not appreciate the general  attitude and tone of BOI towards customers. I had a little thingy for which I needed a bit of cash paid back over a few months and absolutely no way to even try and see if this would be possible.

So far my experience with TSB is friendly, down to earth and quick. Also I got a lot of information and they set up online banking on the spot.