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current account fees - what am I paying for and how can I avoid doing so?

  • 29-03-2017 1:47pm
    #1
    tatsplat
    Registered Users Posts: 55 ✭✭


    I've just checked my bank statement and seen that I have been charged 12.60 in "Current Account Fees" I've checked the BOI website and I can't understand why, there is no unpaid standing order to my account, I haven't used my card excessively, and I have more than the minimum balance in my account, what is going on? 


Comments

  • #2
    Bank of Ireland: Sarah
    Closed Accounts Posts: 1,640 ✭✭✭Bank of Ireland: Sarah


    tatsplat wrote: »
    I've just checked my bank statement and seen that I have been charged 12.60 in "Current Account Fees" I've checked the BOI website and I can't understand why, there is no unpaid standing order to my account, I haven't used my card excessively, and I have more than the minimum balance in my account, what is going on? 
    Hi tatsplat, 

    Thanks for contacting us on Boards. 

    Quarterly account fees are charged to your account each quarter for the use of your account during that quarter. As you mention your quarterly account fees were €12.60, you would have received a Fee Notification statement on 365 Online. This fee notification statement is issued to customers when the quarterly fees are over the amount of €12.50. On 365 Online please go to your Statement tab and then the Statement and Documents tab to view your fee breakdown. 

    The quarterly fees include a €5 maintenance fee and then any charges associated with your account. For example, there is a 25 cent fee per ATM withdrawal. When you have €3000 or above in your account for the full fee quarter, you will not be charged these Transaction fees however the €5 maintenance fee will still apply. 
    If you need clarification on any of the charges on your account, please send a message when you are logged into 365 Online by selecting the Service Desk and the Ask a Question option. For more information on our fees and charges, please see our brochure here. 

    Thanks,
    Sarah


  • #3
    Gordon Gekko
    Registered Users, Registered Users 2 Posts: 435 ✭✭Gordon Gekko


    Bank of Ireland: Sarah wrote: »
    tatsplat wrote: »
    I've just checked my bank statement and seen that I have been charged 12.60 in "Current Account Fees" I've checked the BOI website and I can't understand why, there is no unpaid standing order to my account, I haven't used my card excessively, and I have more than the minimum balance in my account, what is going on? 
    Hi tatsplat, 

    Thanks for contacting us on Boards. 

    Quarterly account fees are charged to your account each quarter for the use of your account during that quarter. As you mention your quarterly account fees were €12.60, you would have received a Fee Notification statement on 365 Online. This fee notification statement is issued to customers when the quarterly fees are over the amount of €12.50. On 365 Online please go to your Statement tab and then the Statement and Documents tab to view your fee breakdown. 

    The quarterly fees include a €5 maintenance fee and then any charges associated with your account. For example, there is a 25 cent fee per ATM withdrawal. When you have €3000 or above in your account for the full fee quarter, you will not be charged these Transaction fees however the €5 maintenance fee will still apply. 
    If you need clarification on any of the charges on your account, please send a message when you are logged into 365 Online by selecting the Service Desk and the Ask a Question option. For more information on our fees and charges, please see our brochure here. 

    Thanks,
    Sarah
    Hi Sarah - can you confirm when a 'fee quarter' commences? Thanks.


  • #4
    Bank of Ireland: Sarah
    Closed Accounts Posts: 1,640 ✭✭✭Bank of Ireland: Sarah


    Gordon Gekko wrote: »
    Bank of Ireland: Sarah wrote: »
    tatsplat wrote: »
    I've just checked my bank statement and seen that I have been charged 12.60 in "Current Account Fees" I've checked the BOI website and I can't understand why, there is no unpaid standing order to my account, I haven't used my card excessively, and I have more than the minimum balance in my account, what is going on? 
    Hi tatsplat, 

    Thanks for contacting us on Boards. 

    Quarterly account fees are charged to your account each quarter for the use of your account during that quarter. As you mention your quarterly account fees were €12.60, you would have received a Fee Notification statement on 365 Online. This fee notification statement is issued to customers when the quarterly fees are over the amount of €12.50. On 365 Online please go to your Statement tab and then the Statement and Documents tab to view your fee breakdown. 

    The quarterly fees include a €5 maintenance fee and then any charges associated with your account. For example, there is a 25 cent fee per ATM withdrawal. When you have €3000 or above in your account for the full fee quarter, you will not be charged these Transaction fees however the €5 maintenance fee will still apply. 
    If you need clarification on any of the charges on your account, please send a message when you are logged into 365 Online by selecting the Service Desk and the Ask a Question option. For more information on our fees and charges, please see our brochure here. 

    Thanks,
    Sarah
    Hi Sarah - can you confirm when a 'fee quarter' commences? Thanks.
    Hi Gordon Gekko, 

    The fees are generally calculated quarterly up to the weekend closest to the 21st February, 21st May, 21st August and 21st November. The exact dates of the fee quarters and when the fees are applied to your account are included in our 2017 Fees and Charges brochure here on page 3. 

    Thanks,
    Sarah


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