Changes to fees

JP Liz V1

Bank of Ireland: Richard F wrote: »

JP Liz V1 wrote: »

Any chance of explaining why so high fee increase charge? 

Hi JP Liz V1,


We’re eliminating 26 different current account fees and transaction charges that are charged quarterly. We’re replacing them with a monthly all-inclusive, flat fee of €6 that is charged once a month. The flat fee will cover all debit card transactions, ATM withdrawals, as well as covering unpaid direct debits and standing orders.

Thanks,
Richard

By charging the customer way more 

Bank of Ireland: Richard F

Yyhhuuu wrote: »

Bank of Ireland: Richard F wrote: »

Hi Yyhhuuu,

Just to mention that recurring payments such as direct debits and standing orders would not be able to be set up on a demand deposit account. You can certainly still make withdrawals on 365online.com.

Thanks,
Richard

Richard,

Can I set up a Sepay payee (I.e. another non -BOI bank)  on a demand deposit bank account to transfer funds out of a/c using banking 365

Kind regards

Hi Yyhhuuu,

Yes, you can certainly set up payees with a demand deposit account on 365online.com or on the app.

Thanks, 
Richard

FGR

Hi Richard,

Can BOI mortgage customers who are availing of the 3% cash back offer be able to switch their current account to another bank before the 5 year mark and still avail of the final 1% on year 5?

Bank of Ireland: Richard F

FGR wrote: »

Hi Richard,

Can BOI mortgage customers who are availing of the 3% cash back offer be able to switch their current account to another bank before the 5 year mark and still avail of the final 1% on year 5?

Hi FGR,

Thanks for your question today.

Once you have a Bank of Ireland current account at the time of your application, you are certainly eligible for the payment within 45 days of the 5th anniversary of your Mortgage drawdown provided that the Mortgage account is still open on that date, all scheduled payments have been made, and you continue to reside in the property as your main residence.

We hope this helps.

Thanks,
Richard 

paddyirish23

Another long term customer here that will be leaving the bank. An absolute joke that ye are trying to pass this off to people that most account holders will be saving money while making it more transparent!
I hope that most of your account holders see sense and move elsewhere too.
And your new mobile banking app is pure ****e, call the developer and sack them!!

Bank of Ireland: Richard F

Hi Paddyirish23,

We'd be sad to see you go, please be assured we greatly value customer feedback and we'll be more than happy to share this with the relevant team.

Thanks,
Richard

rizzla

Shocking, I was in the 3k buffer too. Will be taking my money elsewhere.

tvjunki

Bank of Ireland: Aisling wrote: »

shipposter wrote: »

I currently pay 20 euro a year "maintaining the account fee".

What exactly am I getting for 72 euro a year? What benefit is it to me?

Hi There,

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

We have created a more transparent and simple pricing model, to make it easier to understand your banking costs and enable easier budgeting.

Thanks, Aisling 

I have to jump in here. Can we not have a choice with the structure of fees?

I pay my bills on time, have no bounced cheques or direct debits or standing orders and you Bank of Ireland will penalise me for working within the rules. Last year my fees were 28euros and now they will be €72. Big difference.

No incentive to be good with money. You are effectively allowing people who do bounce cheques or fail a direct debit by allowing them just to pay 6euros per month.

You are also removing the free banking for those that have €3000 constantly in the account.


Looks like Bank of Ireland do not want the customers to use their accounts.

If you want people to lodge money and leave money into Bank of Ireland accounts and not move to a Revolt account. People will leave in droves.

The only one that benefits from the increase is Bank of Ireland.

Please re think this plan. You need your customers to stay and as you see you have many here that have been Bank of Ireland 20years or more and they will now move their business to other banks.

Please forward this feedback and the others here to the powers that be.

Lone Stone

what was the charge before this ? how am i meant to know if this is a good deal or not ? i never go over or owe money so this is sounds a lot to be charging. Im going to have to look into moving my bank account to another bank as this just sounds insanely moronic.

Yyhhuuu

I'm with BOI for 40 years and no way am I staying. Im mad as hell about the spin BOI used in introducing this fee an insult to my intelligence.

why do they charge nothing to their Northern Ireland customers to hold a current account.

I know all my friends in BOI are leaving

tintin67

Been a customer for 35 years and foolishly have a large balance in my current account earning 0% interest but will be switching on principle if you will be dipping in to take out €6 at the end of every month. It's effectively a negative interest rate.

tvjunki

I wonder which radio station to call to see what people really think of Bank of Ireland new payment structure. They are encouraging people to not pay bills on time, be in arrears. 
Bank of Ireland should leave as is.

Bank of Ireland are taking advantage of the loyal customers they have.

JP Liz V1

tvjunki wrote: »

I wonder which radio station to call to see what people really think of Bank of Ireland new payment structure. They are encouraging people to not pay bills on time, be in arrears. 
Bank of Ireland should leave as is.

Bank of Ireland are taking advantage of the loyal customers they have.

Joe Duffy Liveline 

Blackwater20

BOI customer for over 10 years, and taken aback how BOI pursued this price increase. Have current account and mortgage with BOI, and not received any info on this 260% fee increase.

BOI representatives,

How is increasing 20 eur flat fee to 72 eur flat fee "more transparent"?

Why are Irish BOI customers charged 72 eur per year for current account, when BOI current account in UK is free?

When will BOI inform all affected customers?


Will move my current account and deposit to different bank.

DeanM

Bank of Ireland: Aisling wrote: »

shipposter wrote: »

I currently pay 20 euro a year "maintaining the account fee".

What exactly am I getting for 72 euro a year? What benefit is it to me?

Hi There,

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

We have created a more transparent and simple pricing model, to make it easier to understand your banking costs and enable easier budgeting.

Thanks, Aisling 

That is complete nonsense. For customers paying 5e per quarter...the 26 fees were irrelevant. It is a blatant money grab.  

Many people have already switched to Revolut as it had no transaction fees and i never felt the need cos i didn't either. Now I have a reason to switch. I have only ever used BOI and been with BOI for probably 20yrs but now will definitely open Revolut account. This move seems short sighted. It is an attempt to bring in more revenue but I'm sure a lot of cash will be withdrawn from BOI after this. What money will BOI loan out if people no longer have that incentive to maintain a minimum balance? 

BOI also announced Google pay support today. Great....only 3 years behind every other bank. Now increasing banking fees when others are offering transaction free banking. BOI is falling behind. Revolut is the way to go, and the fact it offers interbank exchange rate is also another leap ahead of BOI.

JJayoo

Is the process of changing banks straightforward?
Not paying 72 euro

Yyhhuuu

DeanM wrote: »

That is complete nonsense. For customers paying 5e per quarter...the 26 fees were irrelevant. It is a blatant money grab.  

Many people have already switched to Revolut as it had no transaction fees and i never felt the need cos i didn't either. Now I have a reason to switch. I have only ever used BOI and been with BOI for probably 20yrs but now will definitely open Revolut account. This move seems short sighted. It is an attempt to bring in more revenue but I'm sure a lot of cash will be withdrawn from BOI after this. What money will BOI loan out if people no longer have that incentive to maintain a minimum balance? 

BOI also announced Google pay support today. Great....only 3 years behind every other bank. Now increasing banking fees when others are offering transaction free banking. BOI is falling behind. Revolut is the way to go, and the fact it offers interbank exchange rate is also another leap ahead of BOI.

Will somebody go into RTE Liveline about it.

BOI insulting our intelligence with their spin.

mirrorwall14

Can anyone tell me who has Apple Pay Before we move? We’ve done the 3k in the account but that’s an outrageous increase and we’ll move

antodeco

I have one direct debit that comes out of my account (legacy) for €20 every month. That is the only usage on the account. Its not worth my while to have to basically now pay a "30%" fee for using this. The other usage is transferring money into my daughter's account every month (she is with BOI). Again, not much point in me having this account, and also her now. Such a shame

Hibernicis

mirrorwall14 wrote: »

Can anyone tell me who has Apple Pay Before we move? We’ve done the 3k in the account but that’s an outrageous increase and we’ll move

Ulster have Apple Pay on MasterCard (Credit Card) and Visa (Debit Card). Fee is €2 per month and no charges for mainstream transactions if you maintain a €3,000 balance. And there are a number of other advantages vs BOI: instant transfers between accounts, modern and reliable app, up to date online balances.

DeanM

www.bankofireland.com/help-centre/customer-complaints-process.

Probably worth submitting complaints as I doubt the boards forum will really be taken very seriously. 

Yyhhuuu

DeanM wrote: »

www.bankofireland.com/help-centre/customer-complaints-process.

Probably worth submitting complaints as I doubt the boards forum will really be taken very seriously. 

That link doesnt work.

Rte Liveline is your best bet

JP Liz V1

Bank of Ireland: Aisling wrote: »

shipposter wrote: »

I currently pay 20 euro a year "maintaining the account fee".

What exactly am I getting for 72 euro a year? What benefit is it to me?

Hi There,

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

We have created a more transparent and simple pricing model, to make it easier to understand your banking costs and enable easier budgeting.

Thanks, Aisling 

Surely unhappy customers are complaining about this, how can customers easier budget charged 72 euros per year 

Boards.ie: Mark

Mod Note: Sorry Joypad, we don't allow links to competitor websites as this forum is to be used to attempt to resolve an issue with Bank of Ireland themselves. General discussion about banking can be done here. 

Furton

Now I'm paying 20e. After changes 72e... Rip off
Next month changing bank for sure

Bank of Ireland: Eve

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

We certainly appreciate all of your comments and feedback that you’ve shared with us here in relation to the changes to personal current account fees. 

Please be assured that we’ll be sure to pass all this feedback along to the relevant department. 

Thanks, Eve 

Blackwater20

Hi Eve,

Could you please respond, why are Irish BOI customers charged 72 eur per year for current account, when BOI current account in UK is free?

€72 what a joke I’m gone which Irish bank is good to go to? AIB?

Hibernicis

dog-man-star wrote: »

Also
Question for my mum - she's over 70, does her account automatically shift to a 'Golden Years' account to avoid fees or does she have to call into a branch to change the account? 

thanks

My mother’s account did not switch automatically and the charges continued. We contacted the bank and they made the change over the phone, but no refund of previous charges. 

FGR

Deleted User wrote: »

€72 what a joke I’m gone which Irish bank is good to go to? AIB?

AIB had announced that they were also scrapping free banking before Covid - it's currently deferred but will be introduced shortly especially if their biggest competitor are doing the same.

I'm making enquiries - the problem is will all the others follow suit if both big players are doing this. I'm hoping a bank will announce that they're not changing their free banking options and to make the switch.