Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Have local bank branches got any discretion to entice individuals to stay?

Options
  • 14-02-2015 4:03pm
    #1
    NIMAN
    Registered Users Posts: 33,607 ✭✭✭✭


    The therad about someone coming home from the UK and looking for a recommended bank got me thinking.

    I recommended PTSB as they would have no transaction fees if you lodge €1500 monthly.

    However, as a customer of BoI and AIB, I was wondering if I was to chat to my local branch and tell them I am switching to PTSB, have they got the ability at local level to match PTSB and offer free banking to keep you as a customer, or is it out of their hands?


Comments

  • Options
    #2
    unclebill98
    Registered Users Posts: 3,816 ✭✭✭unclebill98


    No,

    Its pretty much ruled from the head office.


  • Options
    #3
    NIMAN
    Registered Users Posts: 33,607 ✭✭✭✭NIMAN


    As I thought.

    I guess the number of people who switch here is minute, so they don't worry too much about it.

    I'd say if a couple of hundred thousand people left BoIor AIB to go to PTSB, they'd scrap their fees in a shot.


  • Options
    #4
    Shooter_galway
    Registered Users Posts: 536 ✭✭✭Shooter_galway


    I'd say if you had a six figure bank balance yes if not no chance


  • Options
    #5
    Captain Chaos
    Registered Users Posts: 11,174 ✭✭✭✭Captain Chaos


    As it is PTSB have no ATM fees and never had yet people have been happy to pay ATM fees for years and didn''t move. I've been with PTSB for 13 years and I'm always shocked at my friends balance sheets and the bank fees they pay per month. I'm saving about 100-200 per year compared to them yet none will switch as they see it as too much bother.

    The €1500 rule was only brought in last year for new customers going forward, it does not apply for existing customers. I don't see that as fair even though it does not effect me.


  • Options
    #6
    Saipanne
    Closed Accounts Posts: 4,882 ✭✭✭Saipanne


    Captain Chaos wrote: »
    the €1500 rule was only brought in last year for new customers going forward, it does not apply for existing customers. I don't see that as fair even though it does not effect me.

    I don't think that's right, or somehow I'm getting away with free fees as an old customer.


  • Advertisement
  • Options
    #7
    Captain Chaos
    Registered Users Posts: 11,174 ✭✭✭✭Captain Chaos


    Saipanne wrote: »
    I don't think that's right, or somehow I'm getting away with free fees as an old customer.

    That's what I said, as an old customer the fees for less than 1500pm don't apply to us. I've only tested it out once though when I put on short time for a few weeks last year.


  • Options
    #8
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,920 Admin ✭✭✭✭✭Toots


    Shooter_galway wrote: »
    I'd say if you had a six figure bank balance yes if not no chance

    In fairness, if you had megabucks, you'd probably be looked after by private banking, where they'd all but come out to your house and cook the dinner.

    When it comes to us regular joes, the branches have no discretion at all. They can appeal to head office to see can they do anything, but the majority of the time there's no joy.


  • Options
    #9
    JTMan
    Registered Users Posts: 5,540 ✭✭✭JTMan


    However, as a customer of BoI and AIB, I was wondering if I was to chat to my local branch and tell them I am switching to PTSB, have they got the ability at local level to match PTSB and offer free banking to keep you as a customer, or is it out of their hands

    A number of people on Askaboutmoney reported asking their existing bank to price match PTSB or they would switch. In the majority of cases, their existing bank told them to that they would not price match PTSB. However, in a small number of cases, customers have got free banking by simply threatening to leave. Probably all depends on who you talk to, which bank and how important your business is to them.
    Captain Chaos wrote: »
    The €1500 rule was only brought in last year for new customers going forward,

    2 years ago. The current PTSB current account product launched on 1 April 2013.
    Captain Chaos wrote: »
    it does not apply for existing customers. I don't see that as fair even though it does not effect me.

    PTSB have about 12 different current account products. Each of the legacy products have different T&C's. Some legacy products have more stringent conditions for free banking. Some legacy products have far less stringent, or no conditions, for free banking. Hence, it is not as simple as saying new or existing customers are been treated better than each other. It varies.


Advertisement