BOI Change Free Banking Conditions

Just got caught on this, had 8 transactions. Was charged a whopping 27e on one a/c and 18 on the other. Now, it's totally my own fault as had always done 3 bogey transactions per quarter before and just forgot to up it to 9 but still it wrankles. So I will phone my friendly (not) bank manager tomorrow and see if can get them to reverse it but if not perhaps it is time to move to UB. Is there a keypost on this?
 
It appears that transfer money from different BOI bank account won't work.
I just received a fee notification statement, and despite having lodged more than 3000 euro and having done 24 365 transactions, mostly between two BOI accounts, I've been charged 17.36 euro.
 
Stephanno said:
It appears that transfer money from different BOI bank account won't work.
Click to expand...

Has anyone looked for any clarification on this from BOI? There was never any mention of transfers to BOI accounts being ineligible as contributing towards the 9 transactions per quarter.
 
transactions between boi accounts were allowed before, this was confirmed to me in the past by 365 staff member who agreed it was a little foolish (!)
 
I cannot believe that BoI are not allowing internal BoI transfers to count, this completely contradicts what they have publicly said before.

Can anyone find a public quote form BoI that previously states this? If so, I will email the Central Bank of Ireland about this.

I will update the best buy thread with a note about this.
 
I agree. The important question is how have people been "told"? And by who exactly? There doesn't seem to be any official line on this from BOI.
 
Just got my BILL from them
lodged more than 3000 and done 20dd, 8 credits, 16 standing orders 78 card transactions.

Bill is €34.44 that would be €140 a year

ahh I see where they have changed it DD do not count any more you have to do the payment manually online..

and i start to pay my credit cards off in full by DD I use to do it manually online...
 
Seesee said:
perhaps it is time to move to UB. Is there a keypost on this?
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+1, is there a key post on best-buy for Current Accounts? I presume it will still list ones which have fee free banking - UBL/NIB? Both AIB and BoI seem to be rowing back from fee free.

Sunday Times has a best buy page each week and it lists sample best-buys...

UBL and NIB both offer "enhanced" current accounts - UBL have uFirst and uFrist Gold which have monthly fees, but have benefits such as reduced rate on mortgage/Personal loans. NIB have Prestige and Easy Plus which have quarterly fees and where the current account pays credit interest on any amount (not like the €1500 cap in BoI). So depending on your needs, the UBL or NIB offers may suit to pay a fee to have the overall benefits.
 
theresa1 said:
Article in The Irish Mail on Sunday entitled "Crafty customers figure a way to beat BoI's new charges".
Basically moving money from current a/c to savings a/c and back again and breaking up your credit card payment nine times as advised by a BOI agent.

The Regulator needs to intervene to stop this nonsense that customers will now be engaged in to avoid fees.
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- 9 debit payments -end of story.
 
CiaranT said:
Hi Seasaw and Mark,

I have written 4 best buy threads on bank deposit accounts for the last few years including a current account one.

The current account best buy thread is here: http://www.askaboutmoney.com/showthread.php?t=21774

Feedback on the threads are welcome.

CT
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Hi Ciaran - yeah saw that you updated the thread yesterday, however it just really focusses on the one segment of the market that is concerned with fee-free banking. For those people who have regular average credit balances on their current accounts, it may be more cost-effective to pay a small fee as a trade-off to receive interest on the current account such as Prestige paying 1.75%. Either that or the ancillary benefits available through uFirst. Perhaps a different approach to the thread may be to have a "basic" current account best buy, and then a "premium" current account best buy. I believe AIB have a private banking current account as well but its not easy to get hold of details - only what the annual fee is.
 
just made 9 payments of 5 euro online to my mbna credit card, that should see me around this for the next 3 months.. what a pain..
 
Stephanno said:
It appears that transfer money from different BOI bank account won't work.
I just received a fee notification statement, and despite having lodged more than 3000 euro and having done 24 365 transactions, mostly between two BOI accounts, I've been charged 17.36 euro.
Click to expand...

Do payments to a credit card count as an external account?
I.e. credit card is Mastercard, but is provided by BoI, so not sure how it is treated.
 
Yes - 9 debit payments internal or external is my understanding. The credit card you mention would be internal but it does not matter it's still a debit payment.

standing orders and direct debit's of any kind dont count.
 
"Just got my BILL from them
lodged more than 3000 and done 20dd, 8 credits, 16 standing orders 78 card transactions.

Bill is €34.44 that would be €140 a year "


Bluemac: If you don't want to do the online transactions ask your branch to change to the Flat Fee option (See T & C) which is €11.40 for up to 90 transactions per qtr. Any transactions over 90 would be charged at 28c per tx but I think you will find substantial savings.
Based on your figures your last Fees would have been €20.36. Still expensive, but it's an better option.
 
"Any transactions over 90 would be charged at 28c per tx but I think you will find substantial savings."

Substantial savings? - 1 more credit (debit transaction) and Bluemac would have saved €34.44
 
Hi guys,

Just new here, joined to ask other questions but saw this and thought Id post.
I got a similar bill out the blue on Friday with charges of 44€ from BOI for using my account and accessing my money. I asked at a branch (not my own) the girl said she could do nothing but told me to contact my branch and they should give me some money back. I told her Id spoken to Ulster as afaik they dont charge and she said dont be hasty its a lot of hassle. She said a lot people are complaining but to make 9 small transactions instead of one big one to the credit card for example. She also said given the current situation the bank has to make some money somehwere!!!! I ppinted out that not only as a customer Im being shafted but Im a tax payer aswell but thats another argument!

To be honest Im totally p****d off with them, Ive banked with them for 8 years, Ive put heaven knows how much money through the accounts I have, the credit cards and loans. Ive never missed a payment at all yet they are happy to charge me out the blue.

Sorry for the rant but I needed to get it off my chest.
Can anyone tell me how easy it is to actually switch banks?
 
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