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Banking advice for recent graduate needed

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  • 25-08-2005 12:24pm
    #1
    cavanlad1982
    Closed Accounts Posts: 21 ✭


    I've only recently graduated from college so I'm new to managing money. I have a current account with Bank of Ireland. I've had no trouble with them so far but then again, I've never tried to get a loan or anything like that. Lodgements and ATM withdrawls are the height of my banking experience

    I am thinking about opening up a savings account with them as well as getting a credit card (which won't be used too much) which I will pay off every month by direct debit. The main reason I'm opening these up with BOI is to make my online banking easier with less hassle. Also, will this stand to me if I try to get a loan from them?

    Would anybody advise me against this? If so, what accounts would you advise me to open up and with who? Please bear in mind that I don't want a whole load of hassle for a bit extra money (interest on savings)

    Thanks!


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    #2
    defiantshrimp
    Closed Accounts Posts: 241 ✭✭defiantshrimp


    I'm a student who has a BOI account and credit card and I think what you are doing is a good idea. Though I don’t have to pay transaction fees, so if you do Permanent TSB might be a better bet. Credit cards are all the same really if you are not going to be borrowing on them and the BOI cards are as good as any plus they have the added benefit of the integrated online banking with your BOI account. Also when I was abroad I had a scare with a dodgy cash machine my credit card and BOI card services were very helpful and courteous sorting it out.

    Though if you are going to be opening a savings account don’t do it with BOI. Interest with them is a pittance! Go with Rabodirect or Northern Rock instead. It is not too much hassle and you can easily transfer money in and out of the BOI and Rabo/Northern account with online banking.


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    #3
    cavanlad1982
    Closed Accounts Posts: 21 ✭cavanlad1982


    Thanks. I know Rabodirect and Northern Rock have very good interest rates but was wondering if the extra hassle was worth it. If, as you say, the online banking between them is relatively easy, then that's what I'll do. Appreciate the reply.


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    #4
    DublinWriter
    Registered Users Posts: 9,557 ✭✭✭DublinWriter


    cavanlad1982 wrote:
    I've only recently graduated from college so I'm new to managing money. I have a current account with Bank of Ireland.
    I managed to get away with having a 'free' Ascent student current a/c with BOI from the age of 18 to the age of....wait for it....



    ....33! Some over zealous cashier noticed it a few years ago, and I was automatically switched over to one of their 'regular' current a/c's, at which point I switched to an NIB 'freebank' a/c.

    Check out AIB's new current a/c with interest.

    In terms of which bank is the best, they're all out to get you, so comparisons are mute, you'll have equally good and bad experiences with the same bank.


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    #5
    stiofanD
    Registered Users Posts: 325 ✭✭stiofanD


    DublinWriter wrote:
    I managed to get away with having a 'free' Ascent student current a/c with BOI from the age of 18 to the age of....wait for it....
    ....33!
    Heehee... I managed to do the same - free Ascent account from start of college until I was 28. I'm pretty sure it was only the fact that I accidentally went into overdraft that alerted them to the fact. Needless to say, once they started charging me fees, I was out of there!


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