BOI Current Account Fees

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RSMike

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If you have a current account with BOI you may have noticed since their change of terms you are paying current account fee's again (or more of them)

I find myself in that situation where they clawed back a fairly modest €8 in the last quarter, but still annoying when up to now I could avoid that by maintaining a certain balance ( the old rule was €500 as I recall)

So on the statement showing fee breakdown I was charged for 5 ATM/Debit Card transactions, As I don't operate either an ATM or debit card on the account, I queried this by calling B365 ( no answer from my local branch as usual). B365 staff admitted they were baffled by this also and promised to investigate and call me back.

I received a callback from my local branch about an hour later. Apparently 5 payments I made from my current account to my BOI Mastercard were counted as "Card transactions". Does this sound legitimate / within their own rules?

Interesting side note, As I have met the requirement to lodge a minimum of 3K to the account over the quarter, I queried if I had not paid enough bills from B365 ( 9 transactions required) to anyway qualify for free banking, according to the branch a quick tot showed only 8 transactions. I asked if I wanted to couldn't I just split a couple of my bill payments into two to qualify. I was told, "Oh yes, I have seen some customers move a euro back and forward between accounts a couple of times to qualify for free banking, and that works". This IMHO is laughable. After 25 years with BOI, I am now actually considering putting myself through the pain of moving my current account (and then closing all other accounts with BOI), The only thing that is really stopping me is I think it could be a lot of hassle.
 
Seems petty. I worked for BoI some time ago & local managers had discretion to waive small fees in the circumstances you describe. While it may not be worth it for €8, you could write them a letter explaining the unfairness and including the threat to move your account. Is it worth the price of a couple of drinks?
 
RSMike said:
If you have a current account with BOI you may have noticed since their change of terms you are paying current account fee's again (or more of them)

I find myself in that situation where they clawed back a fairly modest €8 in the last quarter, but still annoying when up to now I could avoid that by maintaining a certain balance ( the old rule was €500 as I recall)

So on the statement showing fee breakdown I was charged for 5 ATM/Debit Card transactions, As I don't operate either an ATM or debit card on the account, I queried this by calling B365 ( no answer from my local branch as usual). B365 staff admitted they were baffled by this also and promised to investigate and call me back.

I received a callback from my local branch about an hour later. Apparently 5 payments I made from my current account to my BOI Mastercard were counted as "Card transactions". Does this sound legitimate / within their own rules?

Interesting side note, As I have met the requirement to lodge a minimum of 3K to the account over the quarter, I queried if I had not paid enough bills from B365 ( 9 transactions required) to anyway qualify for free banking, according to the branch a quick tot showed only 8 transactions. I asked if I wanted to couldn't I just split a couple of my bill payments into two to qualify. I was told, "Oh yes, I have seen some customers move a euro back and forward between accounts a couple of times to qualify for free banking, and that works". This IMHO is laughable. After 25 years with BOI, I am now actually considering putting myself through the pain of moving my current account (and then closing all other accounts with BOI), The only thing that is really stopping me is I think it could be a lot of hassle.
Click to expand...

OP have you had a look at this thread? - http://www.askaboutmoney.com/showthread.php?t=148721

Interetingly your five payments to cc count as part of the nine transactions per quarter so if you had done one more then you wouldnot have been hit with the fees.
Loads of members here do some €1 transactions to get up to the magic 9.

Note as well that the quarters are not calender quarters, one of us usually does a reminder on that thread near the end of each quarter*
On the last page of that thread Seantheman posted the dates as


seantheman said:
Fee Calculation​


Period
Interest Calculation
Period Fees and Debit
Interest Applied
​
​
​
​
​
​
Dates are inclusive
21 Nov 11 – 17 Feb 12
20 Feb 12 – 18 May 12
21 May 12 – 17 Aug 12
20 Aug 12 – 16 Nov 12​
Click to expand...


Loads of other threads that Ulster the only ones offering free banking at the moment if you thinking of changing.

*just realised my reminders/links were to last years dates, apologies for any confusion.
 
pator said:
OP have you had a look at this thread? - http://www.askaboutmoney.com/showthread.php?t=148721

Interetingly your five payments to cc count as part of the nine transactions per quarter so if you had done one more then you wouldnot have been hit with the fees.
Loads of members here do some €1 transactions to get up to the magic 9.

Note as well that the quarters are not calender quarters, one of us usually does a reminder on that thread near the end of each quarter*
On the last page of that thread Seantheman posted the dates as

Loads of other threads that Ulster the only ones offering free banking at the moment if you thinking of changing.

*just realised my reminders/links were to last years dates, apologies for any confusion.
Click to expand...

No, I missed that thread, thanks, Interestingly I am half way there as I already have an Ulster Bank current account, since the time BOI tried to force those of us with transaction free ATM cards on deposit accounts to only use BOI ATM's (that one kinda backfired on them when they installed new ATM's and for a while the cards wouldn't even work on some of their own ATM's, I think thats why they quietly abandoned that one).

But the hassle of moving all the various Credits, DD's and standing SO's on a current account is just too much, I will just join you guys and start playing the "the 9 transaction silly game", :), thanks again, handy to know the dates.
 
Actually my husband and I do 9 x 1 cent transactions each between our two accounts! Makes a total mockery of the thing but so far has been allowed.
 
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