Can I set up a new AIB account with weekly payments?

Intifada

When I try to open a savings account online (I have a current acct) it only gives me an option to set up a monthly standing order. Would I be able to immediately edit/cancel that and have it go in weekly?

28064212

You probably don't want to do that. AIB fees are charged per-transaction (currently 20c). So that's an extra 60c per month, or €5 a year.

Having said that, if you really want to do it, you can manage your standing orders using internet banking. Opening a savings account automatically sets up a monthly standing order, but you can delete that and set up a weekly one instead

Intifada

Surely you don't mean I have to pay 20c for every transaction from one of my AIB accounts to the other?

28064212

Intifada wrote: »

Surely you don't mean I have to pay 20c for every transaction from one of my AIB accounts to the other?

As far as I know, there's no exemption for transfers to your own accounts. Could be wrong though.

EDIT: I am wrong. See post #8

OU812

AIB charge for everything. It's why we left them for the altogether better service & far less expensive ulster bank - only €4 a month irrespective of transactions.

Nearly every transaction we have is weekly and it still only costs €4

Intifada

That is insane... charged for making a tiny update on their database while they use my money.

Under the mattress with the savings I think. Scumbags.

dcrosskid

Sorry for jumping on this thread but its fairly similar to what i'm looking for. I'm fairly naive/inexperienced with saving accounts and banking in general as I never really had to worry about it before. Thinking of setting up a savings account with AIB as I already have an account with them. Would ye recommend them or should I shop around a bit? Are they competitive interest wise? I would be happy to set up a monthly standing order and staying with AIB would probably mean less paperwork?

28064212

OU812 wrote: »

AIB charge for everything. It's why we left them for the altogether better service & far less expensive ulster bank - only €4 a month irrespective of transactions.

Nearly every transaction we have is weekly and it still only costs €4

I've rechecked my fee advices, I was wrong. They don't charge for internal transfers. I have two standing orders, one to my AIB savings account, one to a BOI account. I'm only charged transaction fees for the BOI one.

Also, my fees average out at around €15 per quarter, so not much more expensive than Ulster Bank.

dcrosskid wrote: »

Sorry for jumping on this thread but its fairly similar to what i'm looking for. I'm fairly naive/inexperienced with saving accounts and banking in general as I never really had to worry about it before. Thinking of setting up a savings account with AIB as I already have an account with them. Would ye recommend them or should I shop around a bit? Are they competitive interest wise? I would be happy to set up a monthly standing order and staying with AIB would probably mean less paperwork?

There's a good comparison of regular savings accounts here. KBC, Nationwide and PTSB have better interest rates. Nationwide only allow two withdrawals a year, and PTSB needs 21 days notice. KBC at 3.5% is probably the best option, not sure what their online service is like though. AIB's is very easy to get set-up on, I opened my savings account, made my first lodgment and set up a monthly standing order in the space of 5 minutes, all online. Interest rate isn't great though, only 2.25%

OU812

28064212 wrote: »

Also, my fees average out at around €15 per quarter, so not much more expensive than Ulster Bank.

My fees come out monthly on one account (don't even notice it) & on the other there's no fees because there's more than €1,500 moving through the account