Irish banking apps

deravarra · 21-10-2022 11:51pm #1

I find it quite disappointing that while the two banks exiting the Irish market had decent enough banking apps, none of the remaining banks (of the bricks and mortar kind) have a decent banking app offering.

Given that Ireland has for so long tried to put itself forward as being a giant in the area of fintech, this must be quite an embarassment... or is it? For those brass necks at the top of our financial institutions who are trying to persuade us all to go online, perhaps if they gave us adequate solutions, we might just give it a go!

What I would love to see at the bare minimum for a banking app:

Biometric Login. Enough of the typing in so many passwords, passcodes, pins, etc

Push notifications. For all inward and outward transactions. Revolut and N26 can do it, so why can't the banks?

Mobile cheque lodgement. It's been done in the US and the UK for some time now. If it can be done there, why not here?

Robust security.

Peer to peer mobile payments. Again, think Revolut.

What features would you like to see on a banking app?

Jim2007 · 22-10-2022 10:39am

So how much are you willing to pay for these services? Because that is what it comes down to. Both digital and traditional banks are struggling to be profitable right now and some are even exiting the market as we are experiencing. So none of the banks have the stomach to invest heavily in a service they then have to give away.

22-10-2022 10:54am

Indeed, like just lat week had to get the same ancient card reader we had 20 years ago for electronic banking with AIB.

deravarra · 22-10-2022 3:16pm

https://www.boards.ie/discussion/comment/119778428#Comment_119778428

They want to discourage us from using the bricks and mortar, but do nothing to provide for a decent online offering. Maybe they'd rather we stick the cash under the matress?

deravarra · 22-10-2022 3:16pm

https://www.boards.ie/discussion/comment/119778486#Comment_119778486

They have a horrible app

Jim2007 · 22-10-2022 5:15pm

https://www.boards.ie/discussion/comment/119779506#Comment_119779506

To be blunt, yes - there is absolutely no reason to encourage loss makers to come through your door, in fact the more you can get shot of the better. That is the reality of it.

The idea of free banking was sold the bank boards and institutional investors on the basis that once you get people in the door you can sell them something else. And that has been shown to be absolute nonsense.

deravarra · 22-10-2022 11:34pm

https://www.boards.ie/discussion/comment/119779920#Comment_119779920

Not quite. A lot of cross and up-selling occurs, and this can be the bread and butter for the financial institutions. I am thinking insurance, loans, mortgages, pensions and investments. And there is no such thing as free banking in Ireland. All the major financial institutions (that I am aware of) have charges in place for their current account offerings.

Given that we are paying for a lacklustre service and app, and of course online offerings negate the need for office space - surely something better can be done for us, the customers...

Jim2007 · 23-10-2022 10:29am

https://www.boards.ie/discussion/comment/119781645#Comment_119781645

All I can say is that the financial statements don't support it, the actions of the banks exiting the market in Ireland and on mainland Europe don't support it and my own experience on the other side does not support.

The J Stands for Jay · 23-10-2022 10:31am

https://www.boards.ie/discussion/comment/119781645#Comment_119781645

I'm not convinced there's that much cross selling that happens.

Ive had one personal loan from the bank I had my current account with about 20 years ago. Since then, I haven't bought anything from whatever institution I'm doing my daily banking with. Since mortgages are obtained through brokers, I can't see many people being successfully cross sold many products, when that same broker will likely be able to obtain whatever financial products are needed without recourse to a bank.

bop1977 · 23-10-2022 10:36am

https://www.boards.ie/discussion/comment/119778428#Comment_119778428

aib 645 million profit in 2021. Bank of ireland profit 1.4 billion in 2021. hardly struggling.

ptsb 17 million profit 2021.

https://www.independent.ie/business/irish/bank-of-ireland-reports-profit-of-14bn-for-2021-following-a-strong-rebound-in-performance-41393120.html

https://www.independent.ie/business/irish/permanent-tsb-reports-profit-of-17m-for-2021-41401891.html

https://www.independent.ie/business/personal-finance/aib-returns-to-profit-in-2021-announces-dividends-41405861.html

salonfire · 23-10-2022 11:05am

For those complaining about the bank apps and looking for the banks to invest their money, why don't you take a leaf out of your own book and buy a better phone so the latest versions can be installed.

The latest version of AIB's app allows fingerprint login. There is no need for a seperate card reader. Why would you want to be notified of every transaction? In the old days, did you get a phone call from the bank about every transaction?

alannoone · 23-10-2022 11:22am

https://www.boards.ie/discussion/comment/119782343#Comment_119782343

Aib card reader is required to add a new payee. Fingerprint reader on the phone does not change this.

Also latest app only allows login with the Personal access code (PAC), not fingerprint. App is up to date and on a phone less than a year old, with a fingerprint reader.

23-10-2022 11:34am

AIB’s app is ok other than that ancient card reader being stuck in the middle of authorising payments, but you can make smaller transfers though the app without it.

The BoI app has improved a lot and they’re spending a lot on IT at the moment so there should be some new stuff appearing.

I’m not familiar with PTSB’s apps.

Also I think An Post have fairly decent apps for their banking offerings.

Remote lodgement of cheques isn’t likely as they plan is to entirely ditch paper cheques. They’ve not very likely to put any further resources into “paper instruments”. The US is quite a laggard about banking technology in many respects and is still very locked to checks / cheques and signatures.

Personal cheques aren’t even widely accepted here in retail anymore and the cheque guarantee card scheme was closed down.

salonfire · 23-10-2022 11:40am

https://www.boards.ie/discussion/comment/119782390#Comment_119782390

And how is verifying your card in the card reader before sending money to a new payee a bad thing? Otherwise if your phone and login were compromised, someone could clean your account.

You need to check the app settings. I have AIB and can login using fingerprint.

It's well known in the IT industry that end users are stupid and don't know what they want or what's in their best interests. It can be the reasons projects fail due to uncertainty around requirements and unhappy end users.

I think a lot of the complaints about apps fall into this.

23-10-2022 11:42am

Yeah AIB app definitely logs in via fingerprint on android or FaceID on more recent iPhones.

alannoone · 23-10-2022 12:27pm

https://www.boards.ie/discussion/comment/119782446#Comment_119782446

Verifying the card before adding using a reader is an inconvenience.

Firstly, adding a payee is an account action, and has nothing to do with the card. What if the card was lost or damaged?

MFA shouldn't require a card reader, I have a phone in my hand, and that's needed to log into that full online banking site. When in there are they still worried we now need another level of verification?

Revolut did not need it, kbc did not need it but I AIB require me to carry a card reader with me anytime I travel in case I need to do a money transferr? Its one more thing that's an inconvenience.

You might be fine with it, its a step backwards for me coming from kbc and using revolut.

Neddyusa · 23-10-2022 12:38pm

Aib and their card reader nonsense is a total disaster of a "banking service".

It's so bad, I've taken to writing cheques as its a much more efficient means of paying new payees.

Ficheall · 23-10-2022 12:44pm

Does there exist a way to partially "detach" one account from an app? As in, if someone gets access to your phone/app, can they be prevented from accessing one of the accounts? E.g., I use account A for day-to-day etc., but every so often transfer a chunk to account B for saving. I'd like an app with no ability to move funds from account B, even if they can get in to A.

23-10-2022 12:45pm

It’s an added security step but it’s clunky as hell. Particularly all that stuff about entering last digits of account numbers and payment amounts to generate a code.

If it were just a case of sticking your card in, tapping in your pin and getting a one time code, I could say positive things about it, but it’s a very poor user experience and dated tech.

It makes it entirely impossible for my elderly relatives to use AIB online banking as they can’t deal with the fiddly device and all the messing around. The app itself is fine.

deravarra · 23-10-2022 12:55pm

https://www.boards.ie/discussion/comment/119782343#Comment_119782343

I have a galaxy S22+ and the latest updates for the banks I have accounts with. AIB does have a fingerprint login, but the whole app is quite cumbersome ... especially when doing its security check.

23-10-2022 5:28pm

Isn’t it a funny coincidence how AIB’s online banking makes transferring your money into non Irish IBANs for N26 or Revolut extra cumbersome?! Complete coincidence, obviously.

Ilongga · 23-10-2022 5:42pm

With regards peer to peer payments like revolut, it is on the way. AlB, BOI and PTSB have come together to create this. It was delayed by CCPC but it’s now approved.

Irish banks’ rival to Revolut approved by competition regulator with conditions

https://www.irishtimes.com/business/2022/06/16/irish-banks-money-transfer-rival-to-revolut-approved-by-ccpc-with-conditions/

deravarra · 23-10-2022 9:39pm

https://www.boards.ie/discussion/comment/119783644#Comment_119783644

Competition is always good. Revolut have forced a response from the incumbents, but perhaps a little too late for anyone to be bothered with them?

Jim2007 · 24-10-2022 11:57am

https://www.boards.ie/discussion/comment/119784741#Comment_119784741

Competition is good up to a point, but when the result is a commodity industry, the consumer pays in the end. Banks have been reporting losses and poor performance for at least a decade now, even the digital ones and as a result we are not start to see bank exit the market or consolidate. Once that phase completes - probably five years or so, fees will start rise since the competition will have been eliminated.

The J Stands for Jay · 25-10-2022 8:24am

https://www.boards.ie/discussion/comment/119782571#Comment_119782571

And don't forget the IBAN discrimination built in, as it doesn't allow non-Irish IBANs

25-10-2022 2:09pm

Not to mention that as it ages it runs out of batteries & changing it is remarkably fiddly

It's also just yet more e-waste. When you think about how many customers they have, how many bits of plastic and batteries... It adds up.

deravarra · 25-10-2022 9:15pm

https://www.boards.ie/discussion/comment/119789974#Comment_119789974

So much for SEPA. Irish banks are totally anti competition.

The J Stands for Jay · 25-10-2022 11:12pm

https://www.boards.ie/discussion/comment/119793256#Comment_119793256

Yeah, sepa instant exists, but they want to make their customers think the only way to do instant transfers is through their special app that other banks can't use. It'll be like laser cards all over again.

26-10-2022 9:10am

https://www.boards.ie/discussion/comment/119783608#Comment_119783608

Same with debit card payments this last few weeks. every transaction has required a call to AIB card services.

Same yarn every time, visa blocked the transaction.

AngryLips · 26-10-2022 12:11pm

Sorry but IBAN discrimination is not the fault of the banks, rather direct debit originators who do not upgrade legacy systems. Also, I can't wait for the Revolut rival because I cannot deal with the terrible UI of Revolut or the aggressive cross-selling of 'shares' and crypto.

dasdog · 26-10-2022 7:34pm

-Cashback

-Roundups

-Actual AER interest rates (ECB will move to 2.0% tomorrow and likely 2.50% next month)

-24x7 online support

-Stepup as opposed to card reader - I couldn't believe this was still required when I went to add a payee recently

-Confirmation of Payee

-Create multiple accounts for ONME payments (one for Holiday or Christmas or whatever)

Some of my colleagues who have moved to Ireland from places like Brazil and Singapore are astounded how far behind the country is at adopting digital banking. Full disclose - I'm working for a UK based digital bank at the moment.

And look who came last in a recent consumer poll over there.

https://www.which.co.uk/money/banking/bank-accounts/best-bank-accounts/best-and-worst-banks-a3q5d8c6dj7y

Irish banking apps

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