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Reduce banking fees

  • 30-01-2024 12:42pm
    #1
    Ginger83
    Registered Users Posts: 3,564 ✭✭✭


    I'm currently with Ptsb. What banks offer the best rates on fees for current accounts?



Comments

  • #2
    Ezeoul
    Registered Users, Registered Users 2 Posts: 3,803 ✭✭✭Ezeoul


    Literally received a letter from PTSB this morning that the fixed Current Account Maintenance Fee for the Explore Account is going up from €6 a month to €8 a month from 1st April, and the spend and save rewards for using your card, are reducing from 10c per transaction, to 5c per transaction.



  • #3
    Ginger83
    Registered Users Posts: 3,564 ✭✭✭Ginger83


    https://www.boards.ie/discussion/comment/121694608#Comment_121694608

    It's too much for me so I plan to move.

    What is your view?



  • #4
    zell12
    Registered Users, Registered Users 2 Posts: 27,205 ✭✭✭✭zell12


    They all have fees except EBS. More people are shifting online to Revolut Bunq N26, whilst maintaining a physical basic deposit account that has no fees



  • #5
    Ginger83
    Registered Users Posts: 3,564 ✭✭✭Ginger83


    https://www.boards.ie/discussion/comment/121694683#Comment_121694683

    What's the general view of EBS?



  • #6
    feelings
    Registered Users, Registered Users 2 Posts: 529 ✭✭✭feelings


    PTSB were quick to go from free banking (with conditions) to 8 EUR/month. Only a matter of months? The rest will follow that's for sure.



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  • #7
    zell12
    Registered Users, Registered Users 2 Posts: 27,205 ✭✭✭✭zell12


    https://www.boards.ie/discussion/comment/121694713#Comment_121694713

    It works fine if you remember 1990s banking.



  • #8
    ongarite
    Registered Users, Registered Users 2 Posts: 8,336 ✭✭✭ongarite


    https://www.boards.ie/discussion/comment/121694713#Comment_121694713

    Its fine if you think banking features from 20 years ago are still passable in 2024.



  • #9
    Ezeoul
    Registered Users, Registered Users 2 Posts: 3,803 ✭✭✭Ezeoul


    https://www.boards.ie/discussion/comment/121694642#Comment_121694642

    I think an increase was inevitable at some stage, as its been at €6 for a while now.

    I'm not going to go to the bother of switching for the sake of €2 a month, and I still expect I will receive the full €5 in rewards, so net cost will only be €3 a month to me, so I'll stay put for now.

    I'm not sure of any cheaper options out there.



  • #10
    CuriousCucumber
    Registered Users, Registered Users 2 Posts: 321 ✭✭CuriousCucumber


    I have a PTSB current account, but only because I wanted the saving account.

    I use Revolut for nearly everything else.

    Going to switch to AIB I think



  • #11
    The J Stands for Jay
    Registered Users, Registered Users 2 Posts: 5,851 ✭✭✭The J Stands for Jay


    Download your transactions, get all the transaction types, and do a few sumifs to figure out how many of each you generally do in a month. Use this data to figure out which bank account is most suited to your usage. Choose whichever meta your requirements of cost and service.



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  • #12
    Buffman
    Registered Users, Registered Users 2 Posts: 2,868 ✭✭✭Buffman


    There's nothing stopping you having accounts with multiple organisations.

    EBS Money manager (their current account) along with Revolut/N26/etc are all free. (AFAIK you do have to pay postage on the physical cards with Rev/N26)

    Ye, EBS don't have a banking app so you have to use an internet browser on the phone, no big deal. If it helps them keep costs low for a free account, I'm all for it. They do have an account authentication app and card manager app.

    Then just use Revoult/N26/whatever for easier and more secure online purchases with virtual cards that you can freeze/unfreeze instantly.

    FYI, if you move to a 'smart' meter electricity plan, you CAN'T move back to a non-smart plan.

    You don't have to take a 'smart' meter if you don't want one, opt-out is available.

    Buy drinks in 3L or bigger plastic bottles or glass bottles or cartons to avoid the DRS fee.



  • #13
    lau1247
    Registered Users, Registered Users 2 Posts: 2,222 ✭✭✭lau1247


    https://www.boards.ie/discussion/comment/121694820#Comment_121694820

    I think there is a drop of the reward too mentioned over at AAM.


    "However, the cashback payment is going from 10c per transaction to 5c per transaction from the beginning of April."

    West Dublin, ☀️ 7.83kWp ⚡5.66 kWp South West, ⚡2.18 kWp North East



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