best current account?

ablelocks

I'm starting a new job next week, so was thinking of setting up a new current account - I've banked with BOI for years so don't know much about the other options.

what bank or other financial institution would be the best to go with? (one factor that may influence the decision is that we will be switching our mortgage in June/July once i have 6 months down)

thanks

Fol20

ablelocks wrote: »

I'm starting a new job next week, so was thinking of setting up a new current account - I've banked with BOI for years so don't know much about the other options.

what bank or other financial institution would be the best to go with? (one factor that may influence the decision is that we will be switching our mortgage in June/July once i have 6 months down)

thanks

Askaboutmoney as a besy buy section for current accounts.

https://www.askaboutmoney.com/threads/personal-current-accounts.21774/

Free accounts are ebs however their services are quite limited.

N26 and revolut are also free however some can be reluctant to put all their money in them.

All other banks have fees unless you follow some minimum deposit or transaction amounts

vkus6mt3y8zg2q

PTSB is free as long as you have at least €1500 a month going into the account. Think KBC may be similar but with a higher monthly figure, maybe €2500

coylemj

EBS Moneymanager is a current account in all but name. The debit card is VISA so it works in all ATM machines.

Positives:

1. No fees

2. No minimum balance

3. No minimum monthly lodgement

Negatives:

1. No mobile app (and the EBS website is not mobile-friendly)

2. No chequebook (only saying that because you're now with BoI)

3. Debit card (VISA) is not contactless

Shefwedfan

I use KBC, no fee once you put something per month into it :-) maybe 2500

You get a good saving account with high interest rate
Credit card is good
Reduced rate on car loans
Reduced rate on mortgage

Nothing to complain about

Edit: found it
https://www.kbc.ie/our-products/kbc-current-account/current-account/extra

davetherave

Oaklee Strong Canoeist wrote: »

PTSB is free as long as you have at least €1500 a month going into the account. Think KBC may be similar but with a higher monthly figure, maybe €2500

That is a legacy account that is not offered anymore. PTSB's current account now is €4.00 per month but you get 10 cent back per debit card use (up to €5.00) per month and cashback on some utility bills.

Fann Linn

davetherave wrote: »

That is a legacy account that is not offered anymore. PTSB's current account now is €4.00 per month but you get 10 cent back per debit card use (up to €5.00) per month and cashback on some utility bills.

Don't think its capped. Just checked my statement now for Dec and earned 6.76.

JTMan

Fann Linn wrote: »

Don't think its capped. Just checked my statement now for Dec and earned 6.76.

It is capped. Bank interest was paid in December. Is this bank interest perhaps?

stefjoyce

Fol20 wrote: »

Askaboutmoney as a besy buy section for current accounts.

https://www.askaboutmoney.com/threads/personal-current-accounts.21774/

Free accounts are ebs however their services are quite limited.

N26 and revolut are also free however some can be reluctant to put all their money in them.

All other banks have fees unless you follow some minimum deposit or transaction amounts

I opened a Current Account with EBS,when I moved to Ireland,from UK.
Since I returned to UK,service is brutal.
Yes,banking is free,but website is a joke.
They refuse to contact me when I request a call.
I am unable to cancel a Direct Debit,online.
Also,as an example of how this poxy bank operates,there are some counties,that do NOT have an EBS branch.
I am in the process of closing my account
I now know,that what is free,is crap.
EBS,take a bow!

Fol20

stefjoyce wrote: »

I opened a Current Account with EBS,when I moved to Ireland,from UK.
Since I returned to UK,service is brutal.
Yes,banking is free,but website is a joke.
They refuse to contact me when I request a call.
I am unable to cancel a Direct Debit,online.
Also,as an example of how this poxy bank operates,there are some counties,that do NOT have an EBS branch.
I am in the process of closing my account
I now know,that what is free,is crap.
EBS,take a bow!

Ye their services are more limited to others but depending on peoples finances. Some are ok to accept that. Alternatively, you could opwn your ebs account to receive your money and then transfer it to n26 or revolut which you can use daily

Dardania

Fol20 wrote: »

Askaboutmoney as a besy buy section for current accounts.

https://www.askaboutmoney.com/threads/personal-current-accounts.21774/

Free accounts are ebs however their services are quite limited.

N26 and revolut are also free however some can be reluctant to put all their money in them.

All other banks have fees unless you follow some minimum deposit or transaction amounts

I'd second checking out the more modern banks, like the N26 or Revoluts. The apps, and the analytics they offer are refreshing and really useful

However, bear in mind that they don't do joint accounts, so if you bank jointly with a partner, that might be a non starter.

bunq, a paid for Dutch challenger bank, does joint accounts, and provides a really good mobile phone app. You also mentioned about moving mortgage provider in time - no doubt the new provider will want to see evidence of your spending habits - all of the challenger banks still give statements etc. so no worries there.

Check out some reviews on YouTube!

ablelocks

Oaklee Strong Canoeist wrote: »

PTSB is free as long as you have at least €1500 a month going into the account. Think KBC may be similar but with a higher monthly figure, maybe €2500

we're with PTSB for our mortgage, which they won't offer a better rate on, so we're hoping to switch away from them

ablelocks

Dardania wrote: »

I'd second checking out the more modern banks, like the N26 or Revoluts. The apps, and the analytics they offer are refreshing and really useful

However, bear in mind that they don't do joint accounts, so if you bank jointly with a partner, that might be a non starter.

bunq, a paid for Dutch challenger bank, does joint accounts, and provides a really good mobile phone app. You also mentioned about moving mortgage provider in time - no doubt the new provider will want to see evidence of your spending habits - all of the challenger banks still give statements etc. so no worries there.

Check out some reviews on YouTube!

I'd love to join one of those, but I just feel that sticking with the traditional banks will make switching mortgages faster and potentially cheaper.

KBC looks interesting alright....

fennor72

Oaklee Strong Canoeist wrote:

PTSB is free as long as you have at least €1500 a month going into the account. Think KBC may be similar but with a higher monthly figure, maybe €2500

Changed from boi to ptsb a couple of years ago, their so called switcher team was supposed to handle all direct debit changeover. But they did nothing, I was getting letters for weeks about direct debits bouncing from the old account. Avoid!!

Dardania

ablelocks wrote: »

I'd love to join one of those, but I just feel that sticking with the traditional banks will make switching mortgages faster and potentially cheaper.

KBC looks interesting alright....

In which case, you should choose the bank that you will change to for your mortgage, as your future current account bank too...

Fol20

ablelocks wrote: »

I'd love to join one of those, but I just feel that sticking with the traditional banks will make switching mortgages faster and potentially cheaper.

KBC looks interesting alright....

Tbh. I would stick with your current bank until you had made the switch for your mortgage. No point dwitching current account now only to switch again within the next year or two. I would recommend not having loyalty to any particular bank. You can get your mortgage with any of them and if anything its better that they dont have access to your current account as they can then go back years and monitor your activity on a monthly basis while if its external. Tou just provide print outs of your account. Go with the cheapest rate above all else

ablelocks

update - I've decided to go with KBC for my salary and keep my current current account for self-employment income (if I get any!)

I'll be switching my mortgage from PTSB to KBC who said we could start the process after 2 months instead of 6

cheers everyone....