AIB Current Account Fee Increase

JTMan

http://businessetc.thejournal.ie/aib-new-bank-charges-965086-Jun2013/

The cost of an ATM withdrawal, or an automated cheque and cash lodgement, will go from 20c to 35c.

The fee charged for staff-assisted transactions goes from 30c to 39c.

There’ll be a 39c charge for an incoming credit transfer - again, increased from 30c.

Customers will be charged 20c to process each each paper-based non-cash lodgement, such as a cheque or bank draft.

Customers will be charged €3 to send a domestic bank draft, up from €1.90, and €7 to send a draft in a foreign currency – a 37 per cent increase from the current rate of €4.44.

The €2.54-per-page charge for a duplicate bank statement will also rise, to €3 per page.

In addition, from September 14 customers will be charged €4.50 to set up a manual standing order, and €2.50 to amend or cancel that order

New fees apply from August 2013.

Time to switch to PTSB.

Nervous Wreck

Jesus.... I genuinely feel bad for their staff. I best get on to closing my account!

bumper234

Fungus wrote: »

http://businessetc.thejournal.ie/aib-new-bank-charges-965086-Jun2013/



New fees apply from August 2013.

Time to switch to PTSB.

Absolutely shocking, and to think these bastards got bailed out using our tax dollars! Am with you on this am moving to ptsb next month.

mikemac1

35c to use an ATM?? :mad:

Anyways, after a lot of procrastination I opened up an account in the local PTSB today.

Lots of others down there doing account openings too. I was waiting 20 minutes and there were 5 people waiting after 4:30 when I was leaving

Rebel1977

After all the tax payers money which has gone into this Bank thats a disgrace

wmpdd3

Looks like introducing fees was just to test the waters to see who'd move.

Looks like less than they'd thought or just people they could do without, left. (me!)

Ramping up the fees will obviously just give them a fabulous guaranteed revenue stream. Have to offset all those trackers.

Basq

Although unlike BOI, they aren't doing away with free banking if you maintain a minimum daily credit statement balance of EUR2,500 each fee quarter - so that's... something.

bumper234

Basq wrote: »

Although unlike BOI, they aren't doing away with free banking if you maintain a minimum daily credit statement balance of EUR2,500 each fee quarter - so that's... something.

Yeah because in this climate the average working Joe has 2.5k in the bank just sitting there:rolleyes:

clappyhappy

Just heard this on the news and I am fuming. Need to find out what is involved in changing accounts to another bank. Mortgage with aib. Great time for them to announce it, coinciding with the Anglo tapes!!!!!!!

NinjaTruncs

Basq wrote: »

Although unlike BOI, they aren't doing away with free banking if you maintain a minimum daily credit statement balance of EUR2,500 each fee quarter - so that's... something.

But that's not free banking, it's an illusion of free banking. The 2500 will forego almost 50 in interest by sitting in your current account.

SpaceTime

The cash economy and black market will be thriving as these institutions drive everyone back to using cash.


It also means more cash raids, more burglaries etc as you can guarantee it eill result in people storing cash under the mattress.

Basq

bumper234 wrote: »

Yeah because in this climate the average working Joe has 2.5k in the bank just sitting there:rolleyes:

Well, 40% of their customers according to the radio this morning.

NinjaTruncs wrote: »

But that's not free banking, it's an illusion of free banking. The 2500 will forego almost 50 in interest by sitting in your current account.

I know.. I'm not advocating it at all.. I'm just making the differentiation between the two increases in the past week.

granturismo

Basq wrote: »

Well, 40% of their customers according to the radio this morning..

The 40% comprises students, over 60s in addition to those with a min balance 2.5k.

Basq

granturismo wrote: »

The 40% comprises students, over 60s in addition to those with a min balance 2.5k.

Ah.. didn't know the details alright.

JB81

Cue ..... hundreds of customers from AIB transferring to PTSB, similar to what is happening with a lot of BOI customers.
Some time to settle in and BOOM!!!!

PTSB introduce similar rates to both BOI and AIB in October / November.

You heard it here first!!!!

shanec1928

the joys of having student banking.

Birneybau

Does anybody know how to close an account?

Been googling and on the website, they obviously don't want the info as common knowledge.

murphaph

JB81 wrote: »

Cue ..... hundreds of customers from AIB transferring to PTSB, similar to what is happening with a lot of BOI customers.
Some time to settle in and BOOM!!!!

PTSB introduce similar rates to both BOI and AIB in October / November.

You heard it here first!!!!

Then some clever euro land bank will make it easy to open an account with them. SEPA is coming and there's no hiding for the robbing Irish banks.

Nervous Wreck

Birneybau wrote: »

Does anybody know how to close an account?

Been googling and on the website, they obviously don't want the info as common knowledge.

Go into your branch with photo id.

Nervous Wreck

JB81 wrote: »

Cue ..... hundreds of customers from AIB transferring to PTSB, similar to what is happening with a lot of BOI customers.
Some time to settle in and BOOM!!!!

PTSB introduce similar rates to both BOI and AIB in October / November.

You heard it here first!!!!

I think that's unlikely. Ptsb previously had a fee-free current account called a "Switch Current Account" and, although they don't offer it to customers anymore, those who opened the Switch Current Account have never had fees imposed. If anything, I'd say the more likely eventuality is that they'll stop offering this new fee-free account in a few months time and only offer a different account to new customers but still leave the terms of this one untouched.

JTMan

murphaph wrote: »

Then some clever euro land bank will make it easy to open an account with them. SEPA is coming and there's no hiding for the robbing Irish banks.

Let's hope so. Still no word on any Eurozone bank willing to accept Irish AML documents, issue a debit card and accept small retail customers. Hopefully, there will be news pre February 2014.

JTMan

Nervous Wreck wrote: »

I think that's unlikely. Ptsb previously had a fee-free current account called a "Switch Current Account" and, although they don't offer it to customers anymore, those who opened the Switch Current Account have never had fees imposed. If anything, I'd say the more likely eventuality is that they'll stop offering this new fee-free account in a few months time and only offer a different account to new customers but still leave the terms of this one untouched.

Ditto. Agreed.

Also, PTSB are heavily advertising "senseless current account fees". Everything points towards the PTSB offer being a medium to long term offer.

wmpdd3

By the time PTSB try to introduce fees I'll be using my (soon to be launched) credit union debit card.

Credit Union, can't beat them, they have offices with people and stuff and they don't treat you like dog turd AND they LEND money!!

TheGunns

Can someone tell me that if my account has a Visa on it but the balance is 1 euro or below (don't use the account), am I putting myself at risk of any fees? I'm 19 and in college so it's a student account. Just don't want to be risking fees when I don't use it, but don't want to close it just in case.

The_Valeyard

Right, time to switch bank. The hassle of changing direct debit & wage details though. But must be done!!

JTMan

TheGunns wrote: »

Can someone tell me that if my account has a Visa on it but the balance is 1 euro or below (don't use the account), am I putting myself at risk of any fees? I'm 19 and in college so it's a student account. Just don't want to be risking fees when I don't use it, but don't want to close it just in case.

Student accounts have no regular 'day to day banking fees'.

No change with student T&C's.

JTMan

The_Valeyard wrote: »

Right, time to switch bank. The hassle of changing direct debit & wage details though. But must be done!!

Your new bank will switch the direct debits for you.

The_Valeyard

Fungus wrote: »

Your new bank will switch the direct debits for you.

I did not know this, thanks for that.

KevinK

My sister is in her second year of an AIB graduate account and as such pays no fees. Presumeably she will be "upgraded" to the fee paying account soon.

However she is currently in full time education in the UK, is she eligible to change her account back to a student account or possibly open a new student account.

I have been encouraging her to do so, as by my interpretation if she can get a new student account she can look forward to another 6 years (4 student + 2 graduate) of free banking. Her course finishes in September but I don't think this should have an effect.

28064212

TheGunns wrote: »

Can someone tell me that if my account has a Visa on it but the balance is 1 euro or below (don't use the account), am I putting myself at risk of any fees? I'm 19 and in college so it's a student account. Just don't want to be risking fees when I don't use it, but don't want to close it just in case.

Stamp duty

murphaph

28064212 wrote: »

Stamp duty

I'm guessing he has a Visa debit/Vpay card attached to his account. I don't believe that stamp duty is due if a debit/atm card is never used during the Revenue accounting period (April to April).

I have a Visa Debit card attached to an UB account and have never paid stamp duty on it as I have never used the card.

Credit cards are different AFAIK. The stamp duty is always due on them.