More BoI Customers Leaving Deposits in their Current Account

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The BOI results were published today:
[broken link removed]

BoI said:
Customer deposits of €39.1 billion have increased by €2.4 billion year on year. We have a strong customer deposit franchise with 27% market share. Within deposits, current account credit balances have grown by €2.8 billion while other deposits have declined by €0.4 billion.
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So, while deposits overall are up, deposits in savings accounts were down and deposits in current accounts were substantially up.

Keeping deposits in current accounts is rarely a good idea but it is a clear side effect of the low interest environment.
 
Last week I decided to transfer 75% of my current account balance into prize bonds.So after 3 months I can access my money on demand and be in with a chance to have a tax free win.

No point in letting BOI use my money for free.
 
I cant understand why people insist on paying at least €20 per year to BOI for a current account when there are alternatives which provide for free banking subject to minor conditions e.g PTSB, EBS or no conditions with Number26.
 
CiaranT said:
The BOI results were published today:
[broken link removed]

BoI said:


So, while deposits overall are up, deposits in savings accounts were down and deposits in current accounts were substantially up.

Keeping deposits in current accounts is rarely a good idea but it is a clear side effect of the low interest environment.
Click to expand...
It's not really that people are leaving deposits in current accounts' it's that economic activity is up .
More car purchases, more people working ' higher salaries ' more trade etc. Therefore more money resting in current accounts.
The opposite happened during the recession .
 
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