Current account fees, why so expensive

pauld

A customer of BOI for over 30 years. Myself and my wife have a joint personal current account. Latest fee statement was 64 euros for the last quarter. There are no penalties in that fee just day to day banking with no in branch transactions.

Also got a letter advising of increases in some fees.

I have had enough, I contacted Permanent TSB today, they offered us free banking based on our personal circumstances the 12 euros quarterly fee won't apply to us. Switching underway.

BTW  I am not lucky enough to maintain a 3k balance to avoid BOI fees.

Why are your fees si exoensive?

vicwatson

I switched too and PTSB are brilliant, no probs with them and no daylight robbery fees.

Poochie05

Also just to mention even if you do keep a balance of €3000 with BoI, you still have to pay €5 quarterly Maintenance fee. I moved after 25 years with BOI to PTSB and they are great to deal with and no fees!

rodneyTrotter.

Chnging myself shortly . My other half is paying nothing with ptsb and I'm paying 40e quarterly . She couldn't believe it. ..its not like I'm getting any branch service either. Malahide branch is one very long q usually out the door with one counter open and other a staff standing around. Even Aib across the road is better. No more.

Bank of Ireland: Sarah

pauld wrote: »

A customer of BOI for over 30 years. Myself and my wife have a joint personal current account. Latest fee statement was 64 euros for the last quarter. There are no penalties in that fee just day to day banking with no in branch transactions.

Also got a letter advising of increases in some fees.

I have had enough, I contacted Permanent TSB today, they offered us free banking based on our personal circumstances the 12 euros quarterly fee won't apply to us. Switching underway.

BTW  I am not lucky enough to maintain a 3k balance to avoid BOI fees.

Why are your fees si exoensive?

Hi pauld,

Thank you for contacting us here on Boards.

We're very sorry to hear you have decided to switch your account from us.

Just to mention, there are a number of ways to save on your account fees, we have more information on these here. This would include doing an online transfer instead of using a cheque or using the Visa Debit Contactless option at a retailer if possible.

As you say, some of our Current account fees have been increased. However our Electronic and Automated payments fee is halved to 10 cent per transaction. These include Direct Debits, Debit card transactions at a point of sale, online transfers, and standings orders.

We do hope that you reconsider, and appreciate you sending us your feedback here. We are here to help you with any query should you reconsider.

Thanks,
Sarah

pauld

Thsnks for the response, I too regret that i am leaving BOI but with a choice between paying almost €260 per year (which I have in the past 12 months) in fees to BOI or paying no fees with another bank to provide the same level of service and functionality, the decision is obvious.

All the best.

Bank of Ireland: Sarah

rodneyTrotter. wrote: »

Chnging myself shortly . My other half is paying nothing with ptsb and I'm paying 40e quarterly . She couldn't believe it. ..its not like I'm getting any branch service either. Malahide branch is one very long q usually out the door with one counter open and other a staff standing around. Even Aib across the road is better. No more.

Hi rodneyTrotter,

Thanks for your post and for your feedback here. 

We're sorry to hear you have experienced long wait times while in our Malahide branch. We will certainly pass on your comments for their attention.

If we can help with any other query please let us know. 

Thanks,
Sarah

Bank of Ireland: Sarah

pauld wrote: »

Thsnks for the response, I too regret that i am leaving BOI but with a choice between paying almost €260 per year (which I have in the past 12 months) in fees to BOI or paying no fees with another bank to provide the same level of service and functionality, the decision is obvious.

All the best.

Hi pauld,

Thanks for your reply.

Sorry to hear this, as I said previously we're happy to help here if you reconsider in the future. 

Thanks again,
Sarah

2 stroke

Perconally I'd consider moving to ptsb except they closed the local branch but I have moved some of my banking to the credit union. Better opening hours, staff that serve you with a smile and a dividend at the end of the year.
Still I have almost €50 in bank charges this bill.
Question. If I transfer cash between my own boi accounts, am I charged twice? If so thats realy taking the p*** considering that I'm also paying €5 for the second account.

Bank of Ireland: Billy

2 stroke wrote: »

Perconally I'd consider moving to ptsb except they closed the local branch but I have moved some of my banking to the credit union. Better opening hours, staff that serve you with a smile and a dividend at the end of the year.
Still I have almost €50 in bank charges this bill.
Question. If I transfer cash between my own boi accounts, am I charged twice? If so thats realy taking the p*** considering that I'm also paying €5 for the second account.

Hi 2 stroke,

Thanks for your post.

If you have two current accounts and transfer between them, there would be a transaction charge for transferring funds and a transaction charge on the receiving account also.

Deposit accounts do not have transaction charges so transferring from current to deposit would incur a transaction charge on the current account only.

We have information on how to save on current account fees and charges here

Thanks

Billy

 

L'prof

Bank of Ireland: Billy wrote: »

Hi 2 stroke,

Thanks for your post.

If you have two current accounts and transfer between them, there would be a transaction charge for transferring funds and a transaction charge on the receiving account also.

Deposit accounts do not have transaction charges so transferring from current to deposit would incur a transaction charge on the current account only.

We have information on how to save on current account fees and charges here

Thanks

Billy

 

Billy,

Just a quick question regarding fees. Myself and the gf have a joint account that we use for bills as well as our own current accounts so we're being hit by fees more than we need to be. Could the joint account be turned into a deposit account or would that mean we couldn't have cards for that account anymore?

Bank of Ireland: Sarah

L'prof wrote: »

Bank of Ireland: Billy wrote: »

Hi 2 stroke,

Thanks for your post.

If you have two current accounts and transfer between them, there would be a transaction charge for transferring funds and a transaction charge on the receiving account also.

Deposit accounts do not have transaction charges so transferring from current to deposit would incur a transaction charge on the current account only.

We have information on how to save on current account fees and charges here

Thanks

Billy

 

Billy,

Just a quick question regarding fees. Myself and the gf have a joint account that we use for bills as well as our own current accounts so we're being hit by fees more than we need to be. Could the joint account be turned into a deposit account or would that mean we couldn't have cards for that account anymore?

Hi L'prof,

Thanks for your post. 

It wouldn't be possible to change a Current account into a Deposit account. 
You would need to open a new joint Demand Deposit account and close your joint Current account. However, please note that there are no debit cards with a Demand Deposit account, only an ATM card is available for this type of account. 

You can find more information on our Demand Deposit accounts here. 

Thanks,
Sarah

2 stroke

I keep 2 accounts with boi, one for direct debits and essential bills and another for personal spending, saves me having to think everytime I'm taking out cash.
 I grudgingly accept an account managment facility on each account, but I feel ripped off to find that I also pay double transaction fees between my own accounts in my own branch. If I transfer cash to pay a bill it actually is costing me 60 cent.
 Can you suggest to management that the account managment fee includes a certain number of transactions between accounts for persons/couples that maintain more than one account.

Bank of Ireland: Elaine

Hi 2 stroke, 

Thank you for taking the time to post your feedback and suggestions here on Boards.ie. 

We appreciate all our customer's feedback and we will ensure that your comments are forwarded to the relevant area. 

Thanks once again, 
Elaine