LAtest AIB "Service Charges"...

c0y0te

Anyone else received a letter from AIB recently where they outline the 'service charges' they intend to introduce from 24th May?

It's absolutely made me freaking mad. They intend to chage people every time they use an ATM. They will charge a 'service fee' each month to every account holder for statement and such. They charge for cheques. They are basically presenting a list of everything you can do with a bank, and telling you it will cost you PER TRANSACTION.

In my opinion this is scandalous, and I'm seriously considering closing down my accounts and moving to a competitor - after 20 years with AIB. I mean this is the company who lost 750 million last year and it barely registered as a blip on their profit radar ffs!

Anyone else received this wonderful letter yet?

c0y0te

dmeehan

i dont know how you didnt notice this before, its been around for ages.

did you have the "required" amount balance in your account to receive free banking?

c0y0te

I've never been charged for this level of 'transactions' before.

If its' been around for ages, then why am I receiving a special letter from the bank (which looks like a form letter sent to thousands) outlining their *new* service charges and terms/conditions?

c0y0te

myhandle

Does the Cashsave* account have any fees associated with it? apart from the annual ATM tax

*not being opened anymore

c0y0te

Yeah.

As far as I can tell from the letter... in addition to the annual charge they are intending on charging us 20c per ATM transaction, which is nuts!!!

c0y0te

ps. I've left the letter at home, so I'm going on memory here but I will re-read it again when I get in from work to ensure I'm accurate on things.

dmeehan

aib only recently announced that they were abolishing free banking
previously if you had over €500 in your account on average then you wouldnt be charged.

if you didnt have this they charged a quarterly a/c maintenance fee and 20c for automated transactions and 30c for paper/in-branch transactions

ednwireland

MOVE YOUR ACCOUNT

i have four ulster bak accounts (joint business etc) i pay NO charges on any of them if i'm in credit for the quarter on the account.

just get an ordinary current account (not the u first unless you need the guaranteed overdraft)

hit em where it hurts their customer base my partner is closing her aib account

l3rian

AIB dont care about personel banking, and they will be happy if you close your account. They make their profits from bussiness accounts, investment account and mortgages.

Like ednwireland said, move your accounts to Ulster bank, or even PTSB. If you dont have investments or mortgages, dont expect any sympathy from AIB for your 20 years of loyalty.

hamster

I can imagine that Ulster (and others) will start that (excess) charging racket once AIB has made it "main stream". Either that or we all go for the credit unions.

Victor

Originally posted by l3rian
AIB dont care about personel banking, and they will be happy if you close your account.

There are insofar as it brings in business for loans, credit cards, bussiness accounts, investment accounts and mortgages.

ednwireland

my partner has come up aginst a problem here, one i hadnt thought of. Apart from the usual hassles of account moving you also have to pay all the card charges again this basically negates the cost of moving her account (ie the card charges are about the same as 2 years bank charges) although she is becoming a student later this year so back to free banking.

but when harney talks about competition heres an immediate block to anyone wanting to go to a cheaper alternative i suggest you hammer your td's explaining this anti competitive behaviour by our gov.
mary harney ? - full of Sh*t

dmeehan

i got stung for €40 closing one of my visa accounts

they should at least tell you whern the "year" is up
i thought that the tax year was a calendar year, but it looks like the €40 govt tax was charged at the begining of april?

are they still on the old April 6 to April 5 tax year?

Victor

Originally posted by dmeehan
are they still on the old April 6 to April 5 tax year?

No, gone since 2 years ago.

dmeehan

so the money taken from my account in April 2003 is for the tax year 2002???

a certain phrase involving the following words springs to mind: brewery
piss-up
organise

Silvera

I would encourage anyone to close their account with AIB if at all possible (or any bank with similar policies).

I closed my account with them a month ago and moved to Ulster Bank.
It's as much about the principle, as the actual costs involved.

Silvera.

alir123

Ulster bank has a new account now, i forget the name. If u keep a 1000 euros in it, you get free banking. Better than nothing, seeing that AIB are going to start charging.

I think its a disgrace that the banks are charging us fees, seeing that they are using our money to lead to others @ high interest !

Silvera

I think you might be mixing things up, alir123.

I believe that it's permanttsb bank who have that (min€1000=avoid fees) account.

Ulster Bank standard current account requires only to be in credit (i.e. €1) to avoid fees.

Silvera.

hamster

Originally posted by Silvera


I believe that it's permanttsb bank who have that (min€1000=avoid fees) account.

Silvera.

It's permanttsb bank alright. There was a full page spread on yesterday's indo on it.

alir123

Originally posted by Silvera
I think you might be mixing things up, alir123.

I believe that it's permanttsb bank who have that (min€1000=avoid fees) account.

Ulster Bank standard current account requires only to be in credit (i.e. €1) to avoid fees.

Silvera.

Thats Right..I meant permanenttsb bank.

Heard it on the radio this morning..permanenttsb

Cork

I still have my student plus account. But I'll try & keep it as long as I can.

The Credit Unions even have suspended their ATM service.

Originally posted by alir123
Ulster bank has a new account now, i forget the name. If u keep a 1000 euros in it, you get free banking. Better than nothing, seeing that AIB are going to start charging.

I think its a disgrace that the banks are charging us fees, seeing that they are using our money to lead to others @ high interest !

so as you have to leave €1000 in your account forever to avoid charges, you are effectively paying them €1000 for "free" banking!
Whats free about that??
ulster Bank - no thanks.
mm

hussey

http://www.ulsterbank.com/new/roi/products/roi_p_ufirst_financial.asp

I think some people are miss informed .. they give 'free transaction service'

but this type of account costs 8euro per month!!!!

http://www.ulsterbank.com/new/roi/products/roi_p_ufirst_current_account.asp

Silvera

Go for the "Standard Ulster Bank Current Account" which only charges once-off fees to set up direct debits or standing orders(about €3).
Otherwise you pay NO transaction fees.

Forget about the U-first account.

Victor

Originally posted by Cork
I still have my student plus account. But I'll try & keep it as long as I can.

I kept mine for about 10 years ...

dmeehan

i went to ulsterbanks website and asked for info on their standard bank account

and the idiots in "Retail Marketing" sent me the info for U First

Thanx 4 The Fish

BOI have had these charges about for ages. I called them once about the charges on a charge statement they sent out and they told me it was all correct. So I asked for a detailed statement of the charges I had incurred to which they said "Don't worry it is all correct". That answer as you can imagine was not what I was looking for so I went into my branch with my phone bill and told them I wanted an itemised listing of the account charges that. They said that this was not a service that they offered.

Now I think that if the banks are going to charge me, I have a right to see, transaction by transaction, what charges I have incurred so that I can compare it against my statement and check if the transactions took place.

Anyway, go with Ulster Bank or EBS, event though it takes an extra day to get your wages in, it is far better than paying the charges.

Cork

Originally posted by Victor
I kept mine for about 10 years ...

Did they take your student plus account off you, Victor?

Victor

Originally posted by Cork
Did they take your student plus account off you, Victor?

It was an ordinary savings account with BOI, I closed it because I had too many accounts and wanted a laser card / cheque book (not available on savings account).

LoneGunM@n

I'd say go with Ulster Bank ... I've been with them for 20 years, from Henry the Hippo A/c to a Professional Student A/c :rolleyes:

I changed over to a U First a/c about 2 months ago & for €8.00 a month, you get a guaranteed interest free overdraft of €320.00 & discounts ...

I haven't used the discounts, but the interest free overdraft is of great ... I used to get charged the standard €4.44 every week, because my loan would be withdrawn from my a/c before my wages cleared. So now instead of costing me €17.76 a month, it costs me €8.00

sunbeam

Originally posted by PhatFiesta
I used to get charged the standard €4.44 every week, because my loan would be withdrawn from my a/c before my wages cleared. So now instead of costing me €17.76 a month, it costs me €8.00

€4.44 a week?! :eek: I presume this was because you did not have an overdraft set up on your account? I have one on a BOI current account that only costs me a few Euro a quarter when I use it.

BOI did a massive cull on graduate accounts recently. I know several people who had free banking with them for nearly a decade who've just started to pay fees. They were very snotty too when I tried to explain that I was still a postgrad, but they eventually gave me free banking for another two years.

I also sent for info on the standard Ulster Bank current account (just in case BOI were going to charge me), but they sent me info on U First. I'd consider changing in a couple of years, but the trouble is that I've built up a relationship with BOI which might be advantageous when the time comes to beg for a loan....

hamster

I assume PhatFiesta means 8 euro per quarter? Surely.