Changes to fees

Bank of Ireland Reps

Hoboo wrote: »

Bank of Ireland Reps wrote: »

Hi All, 

We're very sorry to hear you feel this way. We have created a more transparent and simple pricing model, to make it easier to understand your banking costs and enable easier budgeting. Please be assured we will share this as feedback on your behalf.

Some of the fees being eliminated include the following. 


·        Debit card contactless transactions
·        Debit card chip and PIN transactions
·        Debit card online transactions
·        ATM and lodgement transactions
·        Automated / self-service transactions (e.g. direct debit, standing orders)
·        Over-the-counter in branch transactions
·        Unpaid direct debits, unpaid standing orders, unpaid cheques or referral items

[font=Calibri, sans-serif]We hope this information helps provide further clarity to you.  We would be sorry to lose you as customers should you decide to close your account. We hope you remain safe and well during this time.

Thanks Jen

[/font]
    

Thanks Jen.

Tara your colleague said 26 fees are being eliminated.

Can you list them all or direct me to the list, I'd like to know all 26 please so I can make an informed decision. Current actual fee amount would also be helpful.

Thanks for your help.

Hi Hoboo, 

Thanks for getting in touch with us here today. There has been an email communication sent to all existing customers advising of the changes being made to fees on current accounts as and from the 23rd November 2020. Along with this email there was an attachment PDF which outlines all charges being eliminated. This can be found on page 9. 


For fees currently applied to customer accounts please see here. 


We hope this helps and that you remain safe and well during this time. 

Thanks Jen

JP Liz V1

Bank of Ireland Reps wrote: »

JP Liz V1 wrote: »

Bank of Ireland Reps wrote: »

Hi All, 

We're very sorry to hear you feel this way. We have created a more transparent and simple pricing model, to make it easier to understand your banking costs and enable easier budgeting. Please be assured we will share this as feedback on your behalf.

Some of the fees being eliminated include the following. 


·        Debit card contactless transactions
·        Debit card chip and PIN transactions
·        Debit card online transactions
·        ATM and lodgement transactions
·        Automated / self-service transactions (e.g. direct debit, standing orders)
·        Over-the-counter in branch transactions
·        Unpaid direct debits, unpaid standing orders, unpaid cheques or referral items

[font=Calibri, sans-serif]We hope this information helps provide further clarity to you.  We would be sorry to lose you as customers should you decide to close your account. We hope you remain safe and well during this time.

Thanks Jen

[/font]
    

Not everyone had so many transactions, my elderly sick mam has just one direct debit for car insurance and now is going to be charged €72 a year 

Hi JP Liz V1,

thanks for getting back to us here. Just to mention that we’re still providing free banking for seniors, students and graduates – that hasn’t changed - and they will no longer be liable for out of order charges (e.g. unpaid direct debits or standing orders). 

We hope this provides further clarity to you. 

Thanks Jen

She got a letter about the new charge 

Bank of Ireland Reps

JP Liz V1 wrote: »

Bank of Ireland Reps wrote: »

JP Liz V1 wrote: »

Bank of Ireland Reps wrote: »

Hi All, 

We're very sorry to hear you feel this way. We have created a more transparent and simple pricing model, to make it easier to understand your banking costs and enable easier budgeting. Please be assured we will share this as feedback on your behalf.

Some of the fees being eliminated include the following. 


·        Debit card contactless transactions
·        Debit card chip and PIN transactions
·        Debit card online transactions
·        ATM and lodgement transactions
·        Automated / self-service transactions (e.g. direct debit, standing orders)
·        Over-the-counter in branch transactions
·        Unpaid direct debits, unpaid standing orders, unpaid cheques or referral items

[font=Calibri, sans-serif]We hope this information helps provide further clarity to you.  We would be sorry to lose you as customers should you decide to close your account. We hope you remain safe and well during this time.

Thanks Jen

[/font]
    

Not everyone had so many transactions, my elderly sick mam has just one direct debit for car insurance and now is going to be charged €72 a year 

Hi JP Liz V1,

thanks for getting back to us here. Just to mention that we’re still providing free banking for seniors, students and graduates – that hasn’t changed - and they will no longer be liable for out of order charges (e.g. unpaid direct debits or standing orders). 

We hope this provides further clarity to you. 

Thanks Jen

She got a letter about the new charge 

Thanks for getting back to us here. All customers have been notified of changes being made to our pricing structure. Once your mother is over the age off 66 she can qualify for a golden years account. To upgrade the account to a golden years account she will need to visit her local Bank of Ireland branch with photo ID and our colleagues here will be more than happy to assist with this. 

If she is unsure if the account is already a Golden years account she can call our customer service team on 0818 365 365 and our colleagues here will be happy to confirm this for her.

We hope this helps. 

Thanks Jen

tech

HI 

I have been a customer with that last 40 odd years, and I was ok just about with the 20e a year fees, but €72 a year is to much, how do I go about closing my account?

Bank of Ireland: Aisling

tech wrote: »

HI 

I have been a customer with that last 40 odd years, and I was ok just about with the 20e a year fees, but €72 a year is to much, how do I go about closing my account?

Hi There, 

Thanks for getting in touch with us here on Boards.ie. 

We're sorry to hear you feel this way and that you are thinking of closing your account with us. Please be assured all of our customers feedback is important to us, and we will absolutely pass this on as feedback on your behalf. 

I have attached a link here with more information on how you can close your account with us. 

Thanks, Aisling

stdidit

Absolutely disgusting that you are punishing people who kept 3k in their accounts, by increasing the fees in these times. 20 euro per year to 72. 

A customer of yours since I was 17 but clearly you couldn't care less about things like that. Only option I have is to close my account.

Disgraceful. 

Hoboo

Replacement cards will be free?

That's the feature wall in the shed sorted.

Bank of Ireland: Megan

stdidit wrote: »

Absolutely disgusting that you are punishing people who kept 3k in their accounts, by increasing the fees in these times. 20 euro per year to 72. 

A customer of yours since I was 17 but clearly you couldn't care less about things like that. Only option I have is to close my account.

Disgraceful. 

Good morning stdidit. 

Thank you for getting in touch with us here on Boards.ie. 

We're really sorry to hear you feel this way. We really value your feedback and I will be sure to share this with the relevant department. 

I will attach information below on how to close your account. 

https://www.bankofireland.com/help-centre/faq/close-current-account/

Have a nice day, take care.

Many thanks,
Megan

eggerb

In a nutshell, not being in my golden years or a student/recent graduate, my current account fees will be increased by 260% from €20 to €72 despite the fact I always maintain the minimum balance.

What's on offer from BoI for the 260% increase is a load of transaction types included that I don't avail of anyway such as bounced cheques/returned direct debits etc. I've gone through 16 quarterly statements over 4 years and I have never been charged a transaction fee once .. I have just paid the €5 quarterly (€1.67 monthly) fee.

It's a bit like an all you can eat Chinese buffet - all you can eat transactions for a high fixed fee when you know you only want a single item off the menu.

This treatment of long-standing customers is disgusting. They could have introduced a new account or stopped the free transactions at a different threshold but BoI are being just greedy.

I've been a customer almost 30 years since college and will definitely be closing my account. (I have the link - thanks).

Question for *BoI boards.ie reps* please ... what is the last date I must have my account closed by to avoid the new fees? I see the start date is mid November but when will the first new structure fee actually hit my account?

SCOOP 64

Seems to be the same copy and paste answer to most replies, think this is falling on deaf ears

tech

SCOOP 64 wrote: »

Seems to be the same copy and paste answer to most replies, think this is falling on deaf ears

Yupwss going to say same, copy and paste doh!! Well done BOI .

Also bye bye BOI ðŸ˜႒ðŸ˜႒

Hibernicis

Hoboo wrote: »

Bank of Ireland: Tara wrote: »

Hi there,

Thanks for your post.

We're eliminating 26 different current account fees and transaction charges that are applied once a quarter and replacing them with an all-inclusive flat fee of €6 that will be charged once a month. The majority of personal current account holders will benefit from the new proposal.

The new €6 monthly fee will be charged on all personal current accounts excluding:

• Student Accounts: Second level, Third Level, Graduate,
• Golden Years Account, where any account holder is aged 66 or older - for joint accounts, both parties need to be age 66 or older to qualify.
• Basic Bank accounts
  
  
  

[*]

Hope this helps.

Thanks
Tara

[*]

Could you tell me what the 26 fees are please? I'd like to see if theres any advantage in keeping my current account but using more functions.

Thanks.

[*]
The list of the 26 (actually 12) charges being eliminated was requested on a number of occasions but has not been posted here. I've posted it in another thread: 

https://www.boards.ie/vbulletin/showpost.php?p=114526659&postcount=276

Ally Dick

eggerb wrote: »

In a nutshell, not being in my golden years or a student/recent graduate, my current account fees will be increased by 260% from €20 to €72 despite the fact I always maintain the minimum balance.

What's on offer from BoI for the 260% increase  is a load of transaction types included that I don't avail of anyway such as bounced cheques/returned direct debits etc. I've gone through 16 quarterly statements over 4 years and I have never been charged a transaction fee once .. I have just paid the €5 quarterly (€1.67 monthly) fee.

It's a bit like an all you can eat Chinese buffet - all you can eat transactions for a high fixed fee when you know you only want a single item off the menu.

This treatment of long-standing customers is disgusting. They could have introduced a new account or stopped the free transactions at a different threshold but BoI are being just greedy.

I've been a customer almost 30 years since college and will definitely be closing my account. (I have the link - thanks).

Question for *BoI boards.ie reps* please ... what is the last date I must have my account closed by to avoid the new fees? I see the start date is mid November but when will the first new structure fee actually hit my account?

All the banks are going to do the same. BOI are just the first

JimShurian

Who needs a current account with any bank? Building Societies offer a terrific service at no cost. 

JP Liz V1

SCOOP 64 wrote: »

Seems to be the same copy and paste answer to most replies, think this is falling on deaf ears

Yes it would be good to hear what they think of all the negative complaints on here from the "relevant department" 

I'm sure they is many really pi$$ed off customers out there

Yyhhuuu

Ally Dick wrote: »

All the banks are going to do the same. BOI are just the first

You don't know that.

stevenup7002

Started the process of switching last week. Just waiting for my new card to arrive, and once that's here, I'll be done with BOI. I've been a customer for 10 years, and as far as I'm aware, I've always kept the €3K minimum balance.

€20/yr wasn't great, but upping that to €76/yr (I think becoming the most expensive bank in the country?) when there are FREE alternatives offering a better service is beyond delusional.

major interest

Just seeing this now. Like others would always have had the minimum amount in the current account so the jump from 20 to 72 is a bit steep.

<snip>

Boards.ie: Niamh

Hi major interest, I have snipped your post asking for recommendations of other banks - you are welcome to ask about other banks in the general banking forum here instead.

j4vier

12 more banks have put in requests to increase their fees, chances are they'll wait for everyone to move from aib and boi and then reveal their own increases

https://www.independent.ie/business/personal-finance/banks-plan-a-raft-of-fee-increases-for-customers-39490220.html

Yyhhuuu

j4vier wrote: »

12 more banks have put in requests to increase their fees, chances are they'll wait for everyone to move from aib and boi and then reveal their own increases

https://www.independent.ie/business/personal-finance/banks-plan-a-raft-of-fee-increases-for-customers-39490220.html

There are many other bank charges they could increase apart from current account fees. We do not know these fee increases relate to current a/c. s. I will always shop around for the best value it's in my nature and I save a fortune in the process. Why wouldn't I. Shopping around encourages competition.

Ally Dick

Yyhhuuu wrote: »

Ally Dick wrote: »

All the banks are going to do the same. BOI are just the first

You don't know that.

See J4vier's post below

https://www.independent.ie/business/personal-finance/banks-plan-a-raft-of-fee-increases-for-customers-39490220.html

Yyhhuuu

Ally Dick wrote: »

See J4vier's post below

https://www.independent.ie/business/personal-finance/banks-plan-a-raft-of-fee-increases-for-customers-39490220.html

Nobody is doubting banks applied to central bank to increase fees. The Irish Independent article clearly states the nature of the proposed fee increase was not stated. Now did the article state the fee increase related to current accounts.My point is that we dont necessarily know what the proposed fee increase relates to. It may relate to a product other than current accounts. Do you see what I'm saying. I clarified this earlier posts.

Pheilem

I closed my BOI current account last week due to the unworkable fees, just want to ask the reps how long the 365online.com service stays alive when no current account exists? As of today (9am) it shows a 'Customer Login Error' & 'We are unable to process your request at this time'. Prior to the beginning of this week, there had been a joint savings account remaining registered and visible on 365, thus I attempted to close it this Monday (online closing criteria met). As there's been no notification by text on whether it's closed and I cannot log-in to verify same, may I infer that this 'login error' means the joint savings account is now closed and my 365online details are purged? Thanks.

Bank of Ireland: Eve

Pheilem wrote: »

I closed my BOI current account last week due to the unworkable fees, just want to ask the reps how long the 365online.com service stays alive when no current account exists? As of today (9am) it shows a 'Customer Login Error' & 'We are unable to process your request at this time'. Prior to the beginning of this week, there had been a joint savings account remaining registered and visible on 365, thus I attempted to close it this Monday (online closing criteria met). As there's been no notification by text on whether it's closed and I cannot log-in to verify same, may I infer that this 'login error' means the joint savings account is now closed and my 365online details are purged? Thanks.

Hi Pheilem, thanks for getting in touch with us here. 

Banking 365 would be a facility primarily for Current Accounts, and any other account on your profile would be additional and would be there just to view. Once you’ve closed your Current Account then you would lose access to your online banking. 

You can certainly certainly contact our Customer Service Desk directly in order to check that your joint Savings Account has also been closed. 

If you call 0818 365 365/ 00353 1 404 4000(from abroad) and one of my colleagues would be more than happy to look into this for you further. 

I hope that this information helps. If you’ve any further queries please feel free to get back in touch with us here on Boards.ie and we’d be more than happy to help as best we can. 

Thanks, Eve 

eggerb

eggerb wrote: »

In a nutshell, not being in my golden years or a student/recent graduate, my current account fees will be increased by 260% from €20 to €72 despite the fact I always maintain the minimum balance.

What's on offer from BoI for the 260% increase is a load of transaction types included that I don't avail of anyway such as bounced cheques/returned direct debits etc. I've gone through 16 quarterly statements over 4 years and I have never been charged a transaction fee once .. I have just paid the €5 quarterly (€1.67 monthly) fee.

It's a bit like an all you can eat Chinese buffet - all you can eat transactions for a high fixed fee when you know you only want a single item off the menu.

This treatment of long-standing customers is disgusting. They could have introduced a new account or stopped the free transactions at a different threshold but BoI are being just greedy.

I've been a customer almost 30 years since college and will definitely be closing my account. (I have the link - thanks).

Question for *BoI boards.ie reps* please ... what is the last date I must have my account closed by to avoid the new fees? I see the start date is mid November but when will the first new structure fee actually hit my account?

@*BoI boards.ie reps* - what's the answer to my question at the end of this post? Thanks.

Bank of Ireland Reps

eggerb wrote: »

eggerb wrote: »

In a nutshell, not being in my golden years or a student/recent graduate, my current account fees will be increased by 260% from €20 to €72 despite the fact I always maintain the minimum balance.

What's on offer from BoI for the 260% increase  is a load of transaction types included that I don't avail of anyway such as bounced cheques/returned direct debits etc. I've gone through 16 quarterly statements over 4 years and I have never been charged a transaction fee once .. I have just paid the €5 quarterly (€1.67 monthly) fee.

It's a bit like an all you can eat Chinese buffet - all you can eat transactions for a high fixed fee when you know you only want a single item off the menu.

This treatment of long-standing customers is disgusting. They could have introduced a new account or stopped the free transactions at a different threshold but BoI are being just greedy.

I've been a customer almost 30 years since college and will definitely be closing my account. (I have the link - thanks).

Question for *BoI boards.ie reps* please ... what is the last date I must have my account closed by to avoid the new fees? I see the start date is mid November but when will the first new structure fee actually hit my account?

@*BoI boards.ie reps*  - what's the answer to my question at the end of this post? Thanks.

Hi there, thanks for reaching out to us here on Boards.ie. 

The new fee structure will come into effect from November 23rd 2020. 

I hope this information helps. Please feel free to get back in touch with us here if there’s anything else we can help you with. 

Thanks, Eve 

eggerb

Bank of Ireland Reps wrote: »

Hi there, thanks for reaching out to us here on Boards.ie. 

The new fee structure will come into effect from November 23rd 2020. 

I hope this information helps. Please feel free to get back in touch with us here if there’s anything else we can help you with. 

Thanks, Eve 

Will €6 or €18 be applied to my account on the 23rd November?

Bank of Ireland: Tara

eggerb wrote: »

Bank of Ireland Reps wrote: »

Hi there, thanks for reaching out to us here on Boards.ie. 

The new fee structure will come into effect from November 23rd 2020. 

I hope this information helps. Please feel free to get back in touch with us here if there’s anything else we can help you with. 

Thanks, Eve 

Will €6 or €18 be applied to my account on the 23rd November?

Hi eggerb,

The new monthly fee will be charged to personal customers for the first time on 31 December 2020. This will cover the month of December 2020. It will appear on your account statements as Fee: maintaining acc


31 December 2020 is also the date that personal customers will be charged the old-style quarterly transactions fees for the last time. These fees will appear on your account statement as Current Account Fees or Notified Fees and will relate to the previous fee quarter, 24 August - 22 November 2020. 


While both of these charges are applied on the 31 December 2020 they cover two different fee charging periods as outlined above. This is the only time you will be charged fees for two different periods at one time. 

All of the above was included in the emails and letters issued to customers to advise of the new pricing structure. In relation to the old-style quarterly transaction fees, the amount you will be charged depends on how many transactions you have had during the fee quarter and the reps here would be unable to advise you what this amount would be as we do not have account access.

Thanks
Tara

bugsyb4

Quick question how long does it normally take to close a current account?

I am pretty sure I requested our 3 current accounts to be closed on Tuesday but still seem to be open looking at the app and banking 365.

I didn't get any notification or text saying this is been worked on so just wondering did I do everything correctly. Balances had just been cleared to zero before I requested to close accounts.