Changes to fees

Bank of Ireland: Richard F

Brian2011 wrote: »

I have an 18 month no access deposit account with BOI, It's my understanding that I will be charged an undisclosed cancellation fee if I want to get access to deposit before end of term, so I am stuck with them until then or what can I do?

Also is there any point switching to AIB as they will probably do same as BOI eventually?

Hi Brian2011,

Thanks for getting in touch with us today.

To look into your options for this account, it would be best to link in with our Deposits team on 0818200347. One of our colleagues will be happy to help.

Thanks,
Richard

Bank of Ireland: Richard F

ButtersSuki wrote: »

How does one qualify for a Graduate account? I have 2 accounts with BOI, I don’t recall ever hearing about a Graduate account, even though I’m with you 35+ years and throughout multiple stints in University.

Hi ButterSuki,

Thanks for checking this with us. 

You would be eligible to apply for a graduate account if you have graduated from full time third level education in the past 3 years. Hope this helps. 

Thanks,
Richard

Bank of Ireland: Richard F

yes there wrote: »

Can you keep a deposit saver account and close current account? Will switch even though I'd be saving money, didn't realise it was costing me  near 100 euro a year. Will switch current accounts to N26 or KBC as I see they have a free extra current account  but would like to keep all my money in the saver account I have there.

Hi Yes there,

Thanks for getting in touch with us today. This can depend on the type of savings account. You can certainly keep a demand deposit account, or GoalSaver account without having a current account. 

We hope this helps. 

Thanks,
Richard

Yyhhuuu

Darc19 wrote: »

Most banks are making changes to their charges.

Central Bank has 9 applications in their system.
https://www.independent.ie/irish-news/banks-plan-a-raft-of-fee-increases-for-customers-39490220.html

It stated these are NOT necessarily all related to current account fees.

RobbingBandit

Bank of Ireland posted record losses about 6 weeks ago have to recoup those funds somehow my account is open 22 years now I am suffering from significant medical issues but I'll make the effort to go into the branch in person to switch the account these guys are cowboys pulling the wool over people's eyes.

RobbingBandit

Bank of Ireland posted record losses about 6 weeks ago have to recoup those funds somehow my account is open 22 years now I am suffering from significant medical issues but I'll make the effort to go into the branch in person to switch the account these guys are cowboys pulling the wool over people's eyes.

Yyhhuuu

RobbingBandit wrote: »

Bank of Ireland posted record losses about 6 weeks ago have to recoup those funds somehow my account is open 22 years now I am suffering from significant medical issues but I'll make the effort to go into the branch in person to switch the account these guys are cowboys pulling the wool over people's eyes.

When I went in branch ( no staff to be seen eventhough full service city branch) for form to switch the seemed completely indifferent telling me to close my account and eagerly showing me how to switch online. When I told them I was customer for 40 years it elicited no response.

Bank of Ireland: Richard F

Yyhhuuu wrote: »

RobbingBandit wrote: »

Bank of Ireland posted record losses about 6 weeks ago have to recoup those funds somehow my account is open 22 years now I am suffering from significant medical issues but I'll make the effort to go into the branch in person to switch the account these guys are cowboys pulling the wool over people's eyes.

When I went in branch ( no staff to be seen eventhough full service city branch) for form to switch the seemed completely indifferent telling me to close my account and eagerly showing me how to switch online. When I told them I was customer for 40 years it elicited no response.

Hi there, we're really sorry to hear that this was your experience in one of our branches. If you would like to send us a PM with more information, we'd be happy to follow this up for you. 

Just to let you know, the account switching process would be dealt with by your new bank. Hope this helps.

Thanks,
Richard

Interslice

Crazy stuff. The recent 'your financial wellbeing is important to us' email about how BOI will now be charging me 50 odd euros extra per year, for what is the same service, gave me a good laugh. Luckily i don't suffer from any sort of brand loyalty. 

Tow

Dear BOI,

How long is does it take before an online request to close an account is acted on?

BTW, The customer 'satisfaction survey popup' for closing an account appears on the final 'confirm your details' page, before you click on the Submit button.  It has the effect of hiding the final Submit stage from the user. 

Yyhhuuu

Darc19 wrote: »

Most banks are making changes to their charges.

Central Bank has 9 applications in their system.
https://www.independent.ie/irish-news/banks-plan-a-raft-of-fee-increases-for-customers-39490220.html

These are not all necessarily increases to current account fees.

JimShurian

I too have been with Bank of Ireland since the early 1980’s. This increase is beyond ridiculous and a clear attempt to charge more to those customers who manage their accounts well. €20 to €72 is simply ridiculous. I retired six months ago and have no qualms closing this account and moving on. 

JimShurian

I too will be leaving BOI after 40 years. This increase is beyond ridiculous and whoever wrote the email needs to work on the customer relations skills. Very poor. 

JimShurian

Darc19 wrote: »

Flyb4ck wrote: »

Ulster has 2€/month maintenance fee + transaction fee (not charged if you keep 3000+€ on the account). That works out as a minimum of 24€/year that is similar to the 20€/year you could get with Bank of Ireland, and that is acceptable.

You have an Ulster account at the moment, if you really think that Bank of Ireland charges are fair have you considered switching?

I couldn't be bothered to change. A few quid here or there wouldn't be noticeable

I used to bank with Barclays in the uk and I know the charges were £50+ every quarter.

That was in the mid nineties and it noticeable how high they were compared to ireland.

I would guess that many of those complaining could save substantial amounts by double checking all their utility bills - a few hours of work could save hundreds, but most people don't check and will cry foul on a small increase by a bank.

A 260% increase isn’t a small increase. 

Darc19

Yyhhuuu wrote: »

These are not all necessarily increases to current account fees.

Nine applications for how many retail banks?

Negative interest rates means that your deposits are costing banks money. They have to change their charging structure.

Would be better if they came out and just said that.

JP Liz V1

Darc19 wrote: »

Most banks are making changes to their charges.

Central Bank has 9 applications in their system.
https://www.independent.ie/irish-news/banks-plan-a-raft-of-fee-increases-for-customers-39490220.html

Has the Central Bank already approved all the charge increases?

Yyhhuuu

JP Liz V1 wrote: »

Has the Central Bank already approved all the charge increases?

No

Bank of Ireland Reps

dog-man-star wrote: »

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

Hi Dog-man-star, thanks for reaching out to us here on Boards.ie. 

Apologies for the delayed reply, we have been looking into this for you further. 

Could we please ask you to send us a private message here with your full name, date of birth and email address? 

Thanks, Eve 

Bank of Ireland: Richard F

Tow wrote: »

Dear BOI,

How long is does it take before an online request to close an account is acted on?

BTW, The customer 'satisfaction survey popup' for closing an account appears on the final 'confirm your details' page, before you click on the Submit button.  It has the effect of hiding the final Submit stage from the user. 

Hi Tow,

We're sorry to hear you're looking to close your account. Once the balance of your account is €0, the account should be closed in one working day. We'll be certain to share your feedback with the relevant team. Thanks for getting in touch today.

Thanks,
Richard

Bank of Ireland: Richard F

JimShurian wrote: »

I too will be leaving BOI after 40 years. This increase is beyond ridiculous and whoever wrote the email needs to work on the customer relations skills. Very poor. 

Hi JimShurian,

Thanks for sharing your feedback with us today. We'd be very sorry to lose you as a customer. We really appreciate you taking the time to provide us with this feedback. We'll absolutely pass this on to the relevant team. Feel free to get back in touch if we can help with anything else.

Thanks,
Richard

Chancer3001

Have decided im going from boi on principle also.

72 euro a year for a current account with 1000s in it is a disgrace.

Smallbush

Yes this increase is rediculus no matter how you try spin it I will be moving my accounts now as well.

JJayoo

5 family members with BOI all changing.

Hoboo

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.

JJayoo

Hoboo wrote: »

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.

BOI gotta get those bonuses

Bank of Ireland Reps

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]
    

Chancer3001

Hi all

We're removing about a euro worth of charges and replacing them with 6 euro worth. Cheers. Be safe

JP Liz V1

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 

Hoboo

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.

Bank of Ireland Reps

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