# BOI Bank Account - Charges and Fees



## Sasol (5 Mar 2013)

Hi All, 

My wife and I have a current account each, a joint account between us and a credit card each. All with Bank of Ireland. 

When we initially joined, the three accounts (2 X Curr, 1 X Joint) were free of fees and charges on the condition that we made 9 or more online transactions per quarter, which we were easily able to do. 

However, not long into this agreement this all changed, whereby each transaction is been charged at 28c a pop. 

In the space of the past week, we have received notification of fees for each of the accounts. This is for 3 months transactions.  

My current account is been charged 49 euro. My wifes account is been charged 42 euro and our joint account is been charged 24 euro. 

So we are been charged 115 euro for a quarter in bank fees !! This equates to 460 for a year. 

There are other charges we have been subjected to that I am not including such as 25 euro for an overdraft facility on my account, government duty, interest (negative) on overdraft etc etc. 

*Basically - Do you any of you know if any of the banks are still offering no fee accounts ? Unlikely I guess, so what bank in your opinion offer the best current account rates/fees ?*

For 2013 we are looking at over 500 euro in fees and various other charges by Bank of Ireland. The banks have already screwed the country once, now they are trying to do it again. 

We will be changing banks, no doubt about that - my only question is, which bank offers the best alternative. 

Thanks,
S


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## pator (6 Mar 2013)

check out Ciarans brillant best buys
http://www.askaboutmoney.com/showthread.php?t=21774 

At the moment Ulster bank offering TRANSACTION free banking, guaranteed at least untill July 2013 - BUT you will pay everywhere for using overdraft facility

Also thread about b of i charges 
http://www.askaboutmoney.com/showthread.php?t=172667


Ciaran also does a brillant best buys for savings if you get to move out of the overdfart situation


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## PolkaDot (6 Mar 2013)

If you don't move from BOI, you should at least switch to the Flat Fee option of €11.40 or whatever it is. This gives you 90 transactions per quarter and you pay 28c per transaction after that.


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## Boyd (6 Mar 2013)

Look at best buys, as linked above, explains everything. PTSB or UB are your friend in short term, after that....who knows.


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## Bronte (6 Mar 2013)

Would one joint account cut down on the costs.


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## seantheman (6 Mar 2013)

Sasol said:


> In the space of the past week, we have received notification of fees for each of the accounts. This is for 3 months transactions.
> 
> My current account is been charged 49 euro. My wifes account is been charged 42 euro and our joint account is been charged 24 euro.


 
If you opt for the flat fee of €11.40 for 90 transactions and then .28c per transaction therafter then your fees would have been respectively
€35.20, €28.20 and €11.40 a saving of over €40
You cannot change the fee structure mid-quarter, So for the period 18Feb-17May you will still be charged .28c per transaction unless you hold €3000 in your a/c for the whole of the quarter.
Your next opportunity to avail of the flat fee is the 20May-16Aug quarter, or as others have advised, switch


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## pator (6 Mar 2013)

looking2011 said:


> I I am moving banks now and have cancelled all my DDs and SOs as these also counted as transactions. .


 
If you use the switching service of your new current account provider they will organise all the DDs and SOs for you.  
Saves you the time and hassle.


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## ClubMan (7 Mar 2013)

Sasol said:


> *Basically - Do you any of you know if any of the banks are still offering no fee accounts ? Unlikely I guess, so what bank in your opinion offer the best current account rates/fees ?*


Are _Ulster Bank _still offering transaction fee free banking?

I don't pay charges with _PTSB _so I meet whatever criteria they set for transaction fee free banking. Maybe not available to new customers?

Edit: oops - should read the thread before replying to the original post! Sorry...


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## Lightning (7 Mar 2013)

ClubMan said:


> Are _Ulster Bank _still offering transaction fee free banking?



Yes until July 2013. 



ClubMan said:


> I don't pay charges with _PTSB _so I meet whatever criteria they set for transaction fee free banking. Maybe not available to new customers?



PTSB previously offered condition-free free-banking. Some legacy customers still have this. 

PTSB currently offer free-banking subject to conditions as per the best buy thread.


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## Sasol (8 Mar 2013)

Thanks to all for the advice and opinion. 

I met with BOI today and brought the statements, list of charges/fees etc with me. 

Basically, they were not willing to do anything about it, other than advise me to either use my credit card for making payments or maintain a current account balance of 3K in all three accounts (If I had that sort of money I probably wouldn't be too worried about current account feees !!). 

Anyway - the only two feasible options are Ulster Bank free banking, which I am going to avoid because of the latest fiasco there, and PTSB. 

This is what I got about PTSB : 

*"PTSB* charge a flat rate of €12.00 a quarter – but PTSB customers can *avoid* this fee if in each quarter they  :  lodge at least €3,000   AND  make at least 18 card purchases  AND make at least 1 financial transaction through online banking (Open24) AND  keep the account within agreed limits.  The most anyone would be charged by PTSB is *€48 a year*."

We should be able to meet the criteria to avoid the PTSB charges in at least two of our three accounts. . 

We will be closing our BOI accounts next week.


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## pator (8 Mar 2013)

Sasol said:


> Thanks to all for the advice and opinion.
> 
> I met with BOI today and brought the statements, list of charges/fees etc with me.
> 
> ...


 
EBS probably worth a look as well, for many their (EBS) terms are easier to comply with, and easy to manage costs. (no min fee, option to get cashback with no fee etc - see the best buys) 

In terms of the recent Ulster Bank fiasco - do you mean this week?? They had hassle for a couple of hours and got a lot of coverage cause they had longer problems before. I could access my account this week at the time of the reports that there was no access. Not excusing them just trying to be fair. 
I have no connection with ulster bank - joined them when b of i introduced the fees and have to say find ulster very easy to deal with and they handled my switch perfectly and they currently offer no strings free banking. If you are changing anyway not worth, IMHO, just writing off ulster bank when PTSB have a lot of requirements.


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## theresa1 (8 Mar 2013)

I also have a BOI demand savings account which i have always had my salary paid into and I can do transfers with this account on 365 - pay bills, transfer money out to other bank's etc., lodge cheques all for FREE. I bet the staff in the bank didn't point this out to you.

Standing orders and direct debits must be from a current account.

I must admit I've finally given up on Ulster Bank for now but EBS is worth checking out.


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## ghi (11 Mar 2013)

got the same as the OP with regard to Bank charges.
What upsets me the most is their answer when i asked why i was now charged.

"Thank you for your email re fees.  Our criteria on free banking changed with effect from the fee period commencing 19th November 2012. The details were in 2 National newspapers on 18th September as required by Regulation. "

They could send us a letter or e-mail  , just an ad in the paper and tough luck if you don't read it that day !
To have €3000 on the current account at all time, yes sure why nt make it €100000 while we are at it.

That they charge is one thing , but not telling the customer ?


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## Lightning (11 Mar 2013)

It's nor right but it is standard practice for banks to inform customers of T&C changes and rate changes via press notifications. Most banks do this. 

I agree that all banks should go further with informing customers. For examples, notifications when you log into your online banking account. Danske do that.


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## adox (12 Mar 2013)

When would one expect these charges to show up on current accounts? I believe the charges kicked in from November but, as yet I havent had any quarterly charges applied.


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## seantheman (12 Mar 2013)

adox said:


> When would one expect these charges to show up on current accounts? I believe the charges kicked in from November but, as yet I havent had any quarterly charges applied.


 

Page 4 of the pdf gives the dates you're looking for
[broken link removed]


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## dillons (20 Mar 2013)

*BoI fees*

I also got stung by BoI for 48euro in fees. Despite having the 3K in my current account for all but 1 night in the quarter! apparently it dipped below 3K for 1 night in November and that's it... full fees applied.

I contacted them & they just don't care so I opened a PTSB account and am in the process of moving everything over now. 

So annoyed with BoI, I understand the fees but it's really the attitude that stinks. They really don't care about loyal customers leaving. This is a direct quote from an email I received from them yesterday in reponse to my mentioning that they must be hearing from a lot of unhappy customers re closing accounts:

'It has come up particularly in the last few weeks but we do find that some people can be slow to move with regards to starting afresh elsewhere'

so they're banking on (pardon the pun) people blowing off steam & then not actually doing anything about it!


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## PolkaDot (20 Mar 2013)

That's exactly it. The banks know that the people who keep a close eye on fees, transactions etc and who would actually go to the trouble of moving are those people in the minority.

They don't mind losing these customers. They know they will continue to make money off the rest of the ignorant gombeens who just pay these things without questioning it.


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## seantheman (20 Mar 2013)

PolkaDot said:


> They know they will continue to make money off the rest of the _*ignorant gombeens*_ who just pay these things without questioning it.


 
Not a particularly clever choice of words!


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## simsims (22 Mar 2013)

I have 2 current accounts with BOI, one for everyday living and one for bills. I was hit with 18.76 charges on one and 59.28 charges on the other today. 

I am looking for a new bank to join that doesn't have these charges. Can anyone advise my best option please?

Also I am only going to have 1 bank account going forward!

Thanks,
simsims


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## Boyd (22 Mar 2013)

PTSB current account. See best buys: http://www.askaboutmoney.com/showthread.php?t=21774

An update on the PTSB from best buy is that from next month PTSB offer free current account once you lodge E1500 per month into it (i.e. salary) http://www.independent.ie/irish-new...n-the-cards-as-ptsb-scraps-fees-29133864.html


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## Boyd (22 Mar 2013)

dillons said:


> 'It has come up particularly in the last few weeks but we do find that some people can be slow to move with regards to starting afresh elsewhere'
> 
> so they're banking on (pardon the pun) people blowing off steam & then not actually doing anything about it!



Its called customer inertia.


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## TRS30 (22 Mar 2013)

theresa1 said:


> I also have a BOI demand savings account which i have always had my salary paid into and I can do transfers with this account on 365 - pay bills, transfer money out to other bank's etc., lodge cheques all for FREE. I bet the staff in the bank didn't point this out to you.
> 
> Standing orders and direct debits must be from a current account.
> 
> I must admit I've finally given up on Ulster Bank for now but EBS is worth checking out.



BOI now charge you for all 365online transactions as well. I was on the phone to them this afternoon and couldn't believe it when they told me that that i am charged for moving money from one of my accounts to another online.


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## theresa1 (23 Mar 2013)

TRS30 - 365 online transactions are FREE using a BOI demand account. You are correct regarding a BOI current account unless you keep a minimum balance of €3,000 throughout the full fee quarter.


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## Lightning (23 Mar 2013)

@TRS30 Don't only complain! Switch.


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## TRS30 (23 Mar 2013)

theresa1 said:


> TRS30 - 365 online transactions are FREE using a BOI demand account. You are correct regarding a BOI current account unless you keep a minimum balance of €3,000 throughout the full fee quarter.



What is the differnce between a demand and a current account?



CiaranT said:


> @TRS30 Don't only complain! Switch.



Ciaran I will unless BOI offer me the same T&C's that say PTSB are offering.

It's unlikley they will so looks like I'll be on to PTSB and will ask about their new online account.


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## Boyd (23 Mar 2013)

TRS30 said:


> What is the differnce between a demand and a current account?


Demand is an instant access saving account, almost zero interest. Standard ATM card (not visa debit) that you can only use at BOI ATM.....no fees.

Current account offers above except with zero interest, visa debit ATM card usable at any ATM, direct debits, standing order support etc....has fees.



TRS30 said:


> Ciaran I will unless BOI offer me the same T&C's that say PTSB are offering.


They wont. Switch now.


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## TRS30 (25 Mar 2013)

username123 said:


> Demand is an instant access saving account, almost zero interest. Standard ATM card (not visa debit) that you can only use at BOI ATM.....no fees.
> 
> Current account offers above except with zero interest, visa debit ATM card usable at any ATM, direct debits, standing order support etc....has fees.
> 
> ...



Thanks. 

I agree however will give them the change and then switch if they don't.


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