Changes to fees

JJayoo

Blackwater20 wrote: »

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?

Because they think people won't be added changing banks

Yyhhuuu

Blackwater20 wrote: »

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?

I asked the same question a few days ago with no response...

Yyhhuuu

JJayoo wrote: »

Because they think people won't be added changing banks

Well if BOI think this they are deluded based on what I have heard on the ground...

dog-man-star

Hi Bank Of Ireland.
I also am considering closing/moving my personal account and business account. 
I have a pension setup with BOI - do you know if its possible to move this with my bank accounts or how would that work? 
Thanks

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

Any other response than this generic one please

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

Any other response than this generic one please

mirrorwall14

For the record we almost finished the set up with a competitor and all our Bank of Ireland accounts will be closed once it is complete

SCOOP 64

Hi , how will this benefit anyone that use to keep over €3000in account  to avoid fees?

Yyhhuuu

Which is the best bank (with a physical presence) to move to?

If I moved my disability allowance back to the post office which I will be doing I’m stuck then with no card to buy things online, what way can I get around this? I don’t want a top card I’d like a credit card you know for emergencies or book flights or buying something on amazon?

Yyhhuuu

[Deleted User] wrote: »

If I moved my disability allowance back to the post office which I will be doing I’m stuck then with no card to buy things online, what way can I get around this? I don’t want a top card I’d like a credit card you know for emergencies or book flights or buying something on amazon?

Dont bother moving your Social Welfare to the Post Office get it paid to a new EBS current account , you will get a free current a/c and debit card will only cost you around €5 per year stamp duty Or combine EBS current account with Revolut or N26 all of which are free all providing debit cards for online purchases etc.

florawest

Yyhhuuu wrote: »

Which is the best bank (with a physical presence) to move to?

At the moment Ulster Bank charge €2 fee per month if you leave €3,000 in it for the whole of each month, so basically leave it there full stop.

Just make sure not to go under your 3k as I did by about 9cent and that month I ended up paying nearly €16 which they added the €2 also too, was I sickened.

Wouldn't be surprised if all the rest of the "lovely" bank's follow suit, as I originally moved from BOI to Ulster when they introduced charges and Ulster bank didn't until about 2 years later.

As well as the charge, even before covid they didn't want us in the banks all just all online etc. 😣

Yyhhuuu

florawest wrote: »

At the moment Ulster Bank charge €2 fee per month if you leave €3,000 in it for the whole of each month, so basically leave it there full stop.

Just make sure not to go under your 3k as I did by about 9cent and that month I ended up paying nearly €16 which they added the €2 also too, was I sickened.

Wouldn't be surprised if all the rest of the "lovely" bank's follow suit, as I originally moved from BOI to Ulster when they introduced charges and Ulster bank didn't until about 2 years later.

As well as the charge, even before covid they didn't want us in the banks all just all online etc. 😣

I wont be moving to Ulster Bank as I was disappointed with them before when I held a savings account. They also do charge for the current account when I could get it free elsewhere in KBC or EBS. Ulster Bank issue very small sized paper statements and their telephone banking is dealt with in Belfast outside the jurisdiction.. I found the call centre of Bank of Ireland one of the best as the staff are super polite and professional. I would like to move to AIB by keeping 2,500 on deposit to avail of free banking but I understand they are due to change this.

JP Liz V1

Deleted User wrote: »

If I moved my disability allowance back to the post office which I will be doing I’m stuck then with no card to buy things online, what way can I get around this? I don’t want a top card I’d like a credit card you know for emergencies or book flights or buying something on amazon?

Do An Post do any card now?

JP Liz V1

JP Liz V1 wrote: »

Do An Post do any card now?

Yes they do they have an post credit card, when I rang to ask about it he said I’d only pay €30 a year to use the card and if I paid the balance off within the month I’d pay no fee’s at all. I just hope it’s true

Yyhhuuu

[Deleted User] wrote: »

Yes they do they have an post credit card, when I rang to ask about it he said I’d only pay €30 a year to use the card and if I paid the balance off within the month I’d pay no fee’s at all. I just hope it’s true

He is referring to the stamp duty of €30.

An post charge an awful lot for their current account which is a franchise operation. AIB being the franchisor.

Yyhhuuu

Yyhhuuu wrote: »

He is referring to the stamp duty of €30.

An post charge an awful lot for their current account which is a franchise operation. AIB being the franchisor.

I was told on fine phone I’d only pay €30 a year and that’s it for example I said

If I bought something on amazon or booking a flight or hotel and paid it off the next day I’d paid no interest or fees and he said yes. Now I’m doubting was he telling me the truth

I hate bank of Ireland for doing this to me I don’t do well with stress since I suffer from it terribly

Yyhhuuu

[Deleted User] wrote: »

I was told on fine phone I’d only pay €30 a year and that’s it for example I said

If I bought something on amazon or booking a flight or hotel and paid it off the next day I’d paid no interest or fees and he said yes. Now I’m doubting was he telling me the truth

I hate bank of Ireland for doing this to me I don’t do well with stress since I suffer from it terribly

He was telling the truth

JP Liz V1

Is there a banking authority regulator we can complain with about this? 

Bank of Ireland Reps

JP Liz V1 wrote: »

Is there a banking authority regulator we can complain with about this? 

Hi JP Liz V1, 

Thanks for getting back to us here on Boards. We can assure you that we notify the Central Bank of changes like this prior to notifying our customers. 

[font=Calibri, sans-serif]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. As we are eliminating over 26 different charges to customer accounts we would recommend checking previous fees and charges on your account to see if this is of any benefit to you.[/font]
[font=Calibri, sans-serif]
It also means that all customers will pay the same flat fee regardless of how much they have in their account.

However if you remain unhappy with the changes in fees or any of the responses or service you have received and would like to make an official complaint please see here. 

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

Thanks Jen[/font]

Yyhhuuu

Dear BOI Rep,

Could you please reply to the questions I posed BOI in an earlier post as a long-standjng BOI customer thinking of moving

I found you existing pricing model very easy to understand as I received an itemized bill from you outlining the charges.

However, what I find difficult to understand is why you would increase fees so much on some existing loyal customers, some fee increases amount to 350%. There will be a mass exodus from BOI going on what posters here and elsewhere are saying.

Many thanks

Bank of Ireland Reps

Bank of Ireland Reps wrote: »

Hi JP Liz V1, 

Thanks for getting back to us here on Boards. We can assure you that we notify the Central Bank of changes like this prior to notifying our customers. 

[font=Calibri, sans-serif]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. As we are eliminating over 26 different charges to customer accounts we would recommend checking previous fees and charges on your account to see if this is of any benefit to you.[/font]
[font=Calibri, sans-serif]
It also means that all customers will pay the same flat fee regardless of how much they have in their account.

However if you remain unhappy with the changes in fees or any of the responses or service you have received and would like to make an official complaint please see here. 

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

Thanks Jen[/font]

26 chargers I only use 2 of them so why am I being forced to pay for the other 24

Bank of Ireland Reps

Yyhhuuu wrote: »

Dear BOI Rep,

Could you please reply to the questions I posed BOI in an earlier post as a long-standjng BOI customer thinking of moving

I found you existing pricing model very easy to understand as I received an itemized bill from you outlining the charges.

However, what I find difficult to understand is why you would increase fees so much on some existing loyal customers, some fee increases amount to 350%. There will be a mass exodus from BOI  going on what posters here and elsewhere are saying.

Many thanks

Hi there, 

Thanks for getting in touch with us here on Boards. At  present about 1 in 10 of our customers pay the quarterly maintenance fee but don’t pay any transaction charges because they keep at least €3,000 in their account. That system will no longer be in place.  4 out of 10 account holders will pay more.  The average monthly increase for these customers will be €3 per month.

This means that all customers will be subject to a flat rate fee of €6 per month. If you remain unhappy with these changes or any aspect of the service you have received from us and would like to make an official complaint please see here.

Thanks Jen

Bank of Ireland Reps

Deleted User wrote: »

Bank of Ireland Reps wrote: »

Hi JP Liz V1, 

Thanks for getting back to us here on Boards. We can assure you that we notify the Central Bank of changes like this prior to notifying our customers. 

[font=Calibri, sans-serif]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. As we are eliminating over 26 different charges to customer accounts we would recommend checking previous fees and charges on your account to see if this is of any benefit to you.[/font]
[font=Calibri, sans-serif]
It also means that all customers will pay the same flat fee regardless of how much they have in their account.

However if you remain unhappy with the changes in fees or any of the responses or service you have received and would like to make an official complaint please see here. 

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

Thanks Jen[/font]

26 chargers I only use 2 of them so why am I being forced to pay for the other 24

Hi tajd, 

Thanks for getting in touch with us here today. We are eliminating these 26 transaction charges so that no customer has to pay these. All customers will be subject to a flat rate fee of €6 regardless of the amount in their account. 

Thanks Jen

Free Speech

How come UK customers can avail of free banking with BoI, while Irish customers get charged €72 a year for the same privilege.

Yyhhuuu

Free Speech wrote: »

How come UK customers can avail of free banking with BoI, while Irish customers get charged €72 a year for the same privilege.

I asked this question earlier but it was unanswered.

bugsyb4

FGR wrote: »

sugarman wrote: »

Because I currently get "free banking" with BOI. All I pay is a quarterly fee of €5, the same as I would with any other bank as I keep over €3,000 in the account at all times to avoid fee's.

This will no longer be the case it seems and there is absolutely no way i'll be handing them over €72 a year for the privilege of using their ****ty service.

I'm wondering if boi mortgage holders who have the 3% cashback option for having a current account with boi will still get their 1% in 5 years if they switch.

Boi can customers who have drawn down still move banks and keep that entitlement in five years ?

Just reading through this thread and in the same position as FGR, was his q ever answered? If not can a rep please advise??

BOI are really shooting themselves in the foot with this along with high interest rates on mortgage we moved mortgage to KBC just this week and are now getting rate of 2.25% v 3%, best BOI would offer was 2.9%. A no brainer really would recommend switching to anyone bit of work involved in it but nothing too strenuous..

Also like others have kept 3k in our accounts at all times (wife, mine, joint) so from paying 60 quid a year to 216 also makes us seriously consider moving everything to KBC where we are getting free banking provided 2k hits account in month.. Who is running BOI, they must make people out to be absolute mugs!!

Dublinflyer

In my opinion BOI want out of the personal banking space as much as possible. If you look at how slow they have been to get Google Pay up and running and still no date for apple pay, increased charges, letting staff and closing branches everywhere the higher ups in the bank see the bank as an investment house and dealing with pensions, long term loans and business finance. This is just the latest step to reduce personal banking, and a pretty good one at that as they are sure to lose a lot of customers over it. What they don't seem to realise is that people use them for loans, pensions and mortgages as they have their personal banking with them as well.  

Blackwater20

Bank of Ireland Reps wrote: »

This means that all customers will be subject to a flat rate fee of €6 per month. If you remain unhappy with these changes or any aspect of the service you have received from us and would like to make an official complaint please see here.

Thanks Jen[/font]

Hi Jen,

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?

mjbo

[Deleted User] wrote: »

26 chargers I only use 2 of them so why am I being forced to pay for the other 24

I agree. Why am I penalised for charges that did not apply to my account. It will definitely simplify things for any customer who was paying various charges in a month but there is zero benefit to me (just penalised for holding my money in BOI). I don’t see any benefit in complaining so definitely time to move banks.