What can I do about AIB fees?

Cyber Ghost

this is the same every quarter:


It's retarded. Makes it ridiculous withdrawing small amounts or buying small items online.

If I go into my branch can I negotiate a flat rate? As I'd rather not go to the trouble of changing banks but I will certainly threaten them with it.

DiscoFever

I know this isnt the answer you want to hear but unless you can keep €2500 (to qualify for free banking) in your account, you should switch banks. I have just moved to PTSB, I had to move as Danske are closing up. And it really wasnt near as much as a headache as I thought it would be. I didnt use their switch buddy, I just moved everything myself, a few phone calls and forms to fill in, but it didnt take that much time. Fed up with bank charges, vote with your feet!

CarefulNow!

Move. I moved to PTSB with relative ease

chris85

Have a look at how 60% of your charges are coming about. You used the ATM 105 times in 90 days! Stop using the ATM as much and will reduce this very quickly. I don't have account fees but if I did I would take out money once a week for what I think I need for the week to limit these charges.

Otherwise switch to PTSB for free banking once you lodge €1500 per month to the account.

Cyber Ghost

Different strokes for different folks.

Money burns a hole in my pocket so taking out a large amount is counter productive. I prefer to take out small amounts. I thought the idea of a bank is to mind your money?

chris85

Cyber Ghost wrote: »

Different strokes for different folks.

Money burns a hole in my pocket so taking out a large amount is counter productive. I prefer to take out small amounts. I thought the idea of a bank is to mind your money?

Different strokes is fair. But don't call it retarded, they have charges and you are using in a way which will cost you more. And a bank is not there to mind your money, where you get this idea from? A bank is there to use the money they have available to invest by giving out loans or investment options or in charges. They are ultimately there to make money and they need to make money to function.

Spocker

Actually that 105 ATM withdrawals is not correct, it's 41.

You could reduce that to 0 if you got cashback (as required) OP, each time you did a debit card transaction, assuming at least a portion of those were in a shop that offered the facility

Cyber Ghost

That's a good idea, Spocker. Thanks for that

chris85

Spocker wrote: »

Actually that 105 ATM withdrawals is not correct, it's 41.

You could reduce that to 0 if you got cashback (as required) OP, each time you did a debit card transaction, assuming at least a portion of those were in a shop that offered the facility

Ah yes it is 41, misread the lines there. Not so bad on ATM use then. Cashback is good idea also.

marathonic

Cyber Ghost wrote: »

I thought the idea of a bank is to mind your money?

Amongst other things. Do you think they shouldn't be paid for this service? How do you propose they pay branch staff, IT staff, branch rents, postage costs, etc.

In the past, current accounts were free and were subsidised by the likes of mortgages and loans. In my opinion, it's a better system when you pay for what you use and users of any particular service don't have to subsidise the users of another service.

For example, I think that SVR mortgages are doing enough subsidising of tracker mortgages without adding current accounts into the mix.

BuffyBot

Cyber Ghost wrote: »

Different strokes for different folks.

Money burns a hole in my pocket so taking out a large amount is counter productive. I prefer to take out small amounts. I thought the idea of a bank is to mind your money?

No, the idea is to make money from you. They are businesses.

If folks aren't willing to take some steps to minimise the charges involved then they probably won't be happy anywhere.

wmpdd3

You need to cut out all those credits too they are costing you a mint!

Move, I did and I woudl do it again if I had to. I was paying €70 every 3 months.

JTMan

Cyber Ghost wrote: »

As I'd rather not go to the trouble of changing banks but I will certainly threaten them with it.

The 'trouble' is minor, switching is worth the minor hassle, plus you will save circa. 130 EUR per year.

Threatening AIB is not going to succeed in a fee reduction.

PrettyBoy

DiscoFever wrote: »

I know this isnt the answer you want to hear but unless you can keep €2500 (to qualify for free banking) in your account, you should switch banks. I have just moved to PTSB, I had to move as Danske are closing up. And it really wasnt near as much as a headache as I thought it would be. I didnt use their switch buddy, I just moved everything myself, a few phone calls and forms to fill in, but it didnt take that much time. Fed up with bank charges, vote with your feet!

What is the €2500 condition? Does that have to be coming in monthly? I always have more than €2500 in my current account at any given time and I received one of these bills today for over €40. I'll happily move my money to PTSB if it means saving ~€160 per year.

JTMan

PrettyBoy wrote: »

What is the €2500 condition? Does that have to be coming in monthly? I always have more than €2500 in my current account at any given time and I received one of these bills today for over €40. I'll happily move my money to PTSB if it means saving ~€160 per year.

Did you have at least 2,500 EUR in your account each and every single day. i.e. never, even for one day, went below 2,500 EUR?

Regardless, you should switch to Permo so you don't have to comply with AIB's silly T&C's.

miezekatze

If you want to stay with AIB, it's best to always keep the charges in mind when using your card. Like someone else said, get cashback instead of using an ATM and don't bother using your card for small transactions, instead maybe get a certain amount of cash every week to pay for small purchases. My fees are usually less than 20 € per quarter, it's easy enough to cut these down if you keep an eye on it.

ShoulderChip

miezekatze wrote: »

If you want to stay with AIB, it's best to always keep the charges in mind when using your card. Like someone else said, get cashback instead of using an ATM and don't bother using your card for small transactions, instead maybe get a certain amount of cash every week to pay for small purchases. My fees are usually less than 20 € per quarter, it's easy enough to cut these down if you keep an eye on it.

This is a curse and I spent three months trying to switch to ulster bank, instead they just upgraded an ulster bank joint account I already had.

My solution so far has been to do one withdrawl a month and use my credit card.

JTMan

miezekatze wrote: »

If you want to stay with AIB, it's best to always keep the charges in mind when using your card. Like someone else said, get cashback instead of using an ATM and don't bother using your card for small transactions, instead maybe get a certain amount of cash every week to pay for small purchases. My fees are usually less than 20 € per quarter, it's easy enough to cut these down if you keep an eye on it.

The proposed solutions are just everyday hassle, and difficult to manage, for a lot of people. There is a simple solution, switch.