AIB Charges

HI Folks,

Was wondering, along with my over the top quarterly charges from AIB, I notice a maintenance charge, flat fee of €5.00 on same bill.

As a percentage of the bill, it's huge. Since when has this little stealth charge been introduced? and how dare they try woodwink you into depositing over €2000.00 grand just to qualify for free banking. in otherwords put more collateral in my bank or I'll bill you!! and now maintenance?? give over
robbing shower off ********

delahuntv

all their fees are here https://personal.aib.ie/content/dam/aib/personal/docs/fees-and-charges/a-guide-to-fees-and-charges-for-personal-accounts.pdf

Do you think staff work for free and the technology employed to run your account is free? - You should see the charges in UK & USA - ultiple time those of Irish banks!

And don;t give the "they are earning interest on my money" line. ECB Bank overnight holding rates are negative - so bank are charged for holding your money.

delahuntv

delahuntv wrote: »

all their fees are here https://personal.aib.ie/content/dam/aib/personal/docs/fees-and-charges/a-guide-to-fees-and-charges-for-personal-accounts.pdf

Do you think staff work for free and the technology employed to run your account is free? - You should see the charges in UK & USA - ultiple time those of Irish banks!

And don;t give the "they are earning interest on my money" line. ECB Bank overnight holding rates are negative - so bank are charged for holding your money.

ohhh calm the jets there alan sugar!

so when we had free banking for years all this admin and technology charges etc and the burden of same was being shouldered by the altruistic AIB??? the bank who was bailed out by it's customers??

and I hadn't considered the interest thing, more so with more money, my money in the bank, they can technically loan more out? speculate to accumulate kind of. I'm no eddie hobbs but then you only have to be. just sit in a room with these chickenhawks to get a measure of them. put your cloak and mask away mate and go back to your AIB desk!

veryangryman

I often wonder how PTSB are able to survive with no banking fees to customers when AIB seem to be so desperate.

Answer? AIB+BOI = crooks. Both will not see 1 more cent of my money. I hope many more leave the bank and they'll have REAL problems with day to day running of it then.

OU812

Moved to Ulsterbank because of the AIB charges. Better service, WAY cheaper, but a more basic online offering...

L1011

rusty cole wrote: »

so when we had free banking for years all this admin and technology charges etc and the burden of same was being shouldered by the altruistic AIB???

Yes, it was.

They hoped that they could sell products that made profits (credit cards, mortgages, loans) to current account holders and hence provided free accounts.

Current accounts are not considered as proper capital for lending out as people can withdraw at any time with no notice.

animaal

MYOB wrote: »

Current accounts are not considered as proper capital for lending out as people can withdraw at any time with no notice.

But what are the chances of everybody withdrawing everything from their current accounts at the same time? About the same as the chances of everybody issueing notice that they'll withdraw the entire contents of their 30-day savings accounts at the same time.

Like it or not, people with AIB accounts are paying for the bad past decisions of the bank. It's hard to have much sympathy though, when there are alternatives; I'm not with AIB and I don't pay any charges.

65535

I Moved to PTSB since last year, no problems at all since.
You have to deposit €1,200 per month for a free account, was advised when setting it up that you can withdraw and lodge again if you need to bring it up to that amount.
I presume that they make money on their loans because their interest rate is a bit higher than AIB

delahuntv

banks have changed the way they charge - if you think you have it bad, my charges were in excess of 10k last year (business) - cash lodged = 45c per €100, coins withdrawn = €1.20/ €100 and that's before the other charges.

But on the other hand, interest rates on business loans are far cheaper - currently I'm paying just over 5%.

Previously interest rates were jacked up and "free" banking was provided.

there is NO SUCH THING as FREE BANKING. Someone pays, somehow. As you say, PTSB charge more for credit cards and loans mmmm...

The assumption is at some stage you will want a car loan or mortgage or life insurance or credit card - and they will charge you handsomely for it.

Notice how PTSB don't target the older customer who probably don't need loans?

L1011

animaal wrote: »

But what are the chances of everybody withdrawing everything from their current accounts at the same time? About the same as the chances of everybody issueing notice that they'll withdraw the entire contents of their 30-day savings accounts at the same time..

That doesn't come in to the equation really - they're hugely volatile and also have a very obvious cycle to them, there's usually a lot more there at the end of a month than the start.

animaal wrote: »

Like it or not, people with AIB accounts are paying for the bad past decisions of the bank. It's hard to have much sympathy though, when there are alternatives; I'm not with AIB and I don't pay any charges.

Using 'free' current accounts as a method of getting customers comes in under similarly poor decisions.

Whoever you're with as a bank in this country has made massive cockups - you're likely using the nationalised Permanent TSB or the nationalised by the UK Ulster Bank.