# AIB Moving 400,000 'Cash Save' Customers to Fee Paying Current Accounts



## Lightning (4 May 2012)

> AIB is shutting down its Cashsave account, which will impact on about 400,000 customers.
> 
> Half of the 400,000 who have a Cashsave account use it for day-to-day banking as the account comes with a Laser card.
> 
> Those whose Cashsave accounts have debit or Laser cards, or who have direct debits set up, will now be moved to a current account.





> AIB said the move would "simplify and streamline" its account offerings.
> 
> It admitted that many of those who used the Cashsave account for everyday banking could now end up paying fees.


----------



## STEINER (5 May 2012)

I have a cashsave account from the 1980's college days, I don't need it, it was rarely used lately but now that there is conversion to a fee incurring current account I will axe it.


----------



## Sue Ellen (5 May 2012)

I have a cashsave ac too but it already has fees on it, probably not as costly though as a current ac.?  Like Steiner mine's not used much so just as well to get rid but certainly not to another fee paying current ac.


----------



## dewdrop (15 May 2012)

Got a long circular type letter from AIB saying that my cashsave account is being converted into a personal bank account on 27th july.  In the 4th paragraph of the letter it says "credit interest is not a feature of the Personal bank account".  A nice way of saying no interest is being allowed.


----------



## Lightning (15 May 2012)

dewdrop said:


> Got a long circular type letter from AIB saying that my cashsave account is being converted into a personal bank account on 27th july.  In the 4th paragraph of the letter it says "credit interest is not a feature of the Personal bank account".  A nice way of saying no interest is being allowed.



The customer opened a Cash*save* savings account, intending to earn interest, then AIB converts, without customer consent, this into a fee paying account with zero interest. Poor practice.


----------



## STEINER (17 May 2012)

I got the AIB letter today.  As I don't have any direct debits from the little used cashsave a/c or a debit card, they will convert it to a demand deposit account. This suits me as it won't cost me any charges even if I never use the new account.


----------



## djh (17 May 2012)

Slightly different, I had an AIB current account, which I used just to recieve a standing order and then fund my AIB visa card from. 
With the changes in fees and such I wanted to convert it to a demand deposit account. Was told no. Would have to close current account and then go into a branch to open a new demand deposit account. I did this in the end. 
Quite annoying to hear that AIBcan convert accounts when it suits them.


----------

