Charges for closing a BOI Current account

B

bcolemax

Registered User
Messages
5
Hi,

I have just switched to PTSB to avoid paying bank charges with BOI. I went in today to close my curreny account in BOI which has a zero balance and they wanted 20euro to close it. This was for bank charges/transaction fees accrued over the past 3.5 months which have not been charged on the account yet. I have already canceled my visa debit card with them.
I dont intend ever using this account again, should i pay the charges and close it or just leave it there? I assume if they apply the charges later it will drive the account overdrawn which it has never been.
What would be the consequences of just ignoring this account?
 
If the charges are valid, then just pay them and close the account. If you ignore the account then when it comes to charging day your account will be overdrawn, and you will then be faced with unauthorised overdraft fees. It's frightening how quickly these charges can compound on top of each other, unless dealt with your account could end up with their debt management department. You do of course have the option of trying to appeal the charges, your chances will depend on what the charges are for. If they're government stamp duty for one or more debit cards, I would say you have no hope.
 
They would eventually just write off the account. It happened to a relative. After about 6 months they wrote off the €20 odd OD and closed the account.
 
bcolemax said:
Hi,

I have just switched to PTSB to avoid paying bank charges with BOI. I went in today to close my curreny account in BOI which has a zero balance and they wanted 20euro to close it. This was for bank charges/transaction fees accrued over the past 3.5 months which have not been charged on the account yet. I have already canceled my visa debit card with them.
I dont intend ever using this account again, should i pay the charges and close it or just leave it there? I assume if they apply the charges later it will drive the account overdrawn which it has never been.
What would be the consequences of just ignoring this account?
Click to expand...

The right thing to do is to pay the charges. You incurred the charges and are liable for them.
 
Thanks all for your opinions. All charges are ATM withdrawals or b 365 transfers/bill payments. I'm swaying on the side of just ignoring them
 
You haven't been asked to pay a fee for closing your account, you've only been asked to settle any outstanding debts which is fair enuf
 
I just stuck 21 euro into the account which will meet the charges when they are charged and i will leave it open for now. Thanks all for your opinions/responses
 
If you leave the euro sit there they will continue to levy charges till you close it.
 
Time said:
If you leave the euro sit there they will continue to levy charges till you close it.
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Not true. At least not until 17th feb 2014 after which time the maintenance fee will apply to all personal current accounts regardless of activity.
 
bcolemax said:
I just stuck 21 euro into the account which will meet the charges when they are charged and i will leave it open for now.
Click to expand...
I think you should close it. It's easy to forget about these things and before you know it you'll owe a load of maintenance fees for nothing.
 
I will close it next time I get a chance to go in to the branch. It will incur no more charges until 2014 as long as its not used anyway. But I agree it would be easy to forget about it in the long term if its not closed.
 
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