20 cent transaction fee for contactless payments?

B

BrokeBroker

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I had no idea this was in place.

I assumed the quarterly payments covered everything.

I used google pay probably between 3 to 5 times a day. I no longer bring my wallet with me typically.
This adds up to roughly 350 euro annually.

Are there no other payment methods that circumvent this?

Am I going to have to return to paper/coin payment methods?
 
Eithneangela said:
Open a Revolut account, transfer daily spending money for a month each month.
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Or German bank N26, i use both, but overall, N26 is better, and way better customer service. There are no fees for either, for most day to day transactions, on the free account versions.

It is still handy, to have one Irish Bank Account, but just one, is more than enough
 
Mamamia22 said:
How much is the AIB contactless. Is there still a fee if you use the PIN ?
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aib.ie

AIB Fees and Charges - Personal Banking | AIB

aib.ie aib.ie



B. Account Transaction Fees
Automated Transactions €0.20 each
This fee applies to the following transactions:
• Debit Card purchases
• Contactless transactions(1)
• Standing Orders
• Direct Debits
• Automated Debit & Credit transactions including transactions through:
– AIB Phone & Internet Banking
– AIB Mobile Banking
– AIB Kiosk Banking
– AIB Tablet Banking
 
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This says AIB contactless fee using AIB debit card, is waived, so i assume this means google wallet/apple pay is chargeable, as the OP experienced ?
1682490812210.png
 
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Sconeandjam said:
Aib have a service charge for holding a current account and charge contactless. During covid the 20cent was waived. Back to charging again.
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If you check AIB fees and charges, it says contactless is free. Paying with a phone is still a free contactless, however, bank need to debit your bank, credit your e wallet (e.g. Google wallet account) and then that is used for your contactless. This bank to your wallet transaction is what you're charged for. AIB calls it in your statement of fees as Direct Credit or Automatic Credit (can't remember exactly). This is 20c, same as sending or receiving EFT (e.g. when you receive wages or pay for rent), same 20c applies to SO and DD.
I personally use AIB for a very short list of transaction. My main bank is EBS and Revolut - saves me a fortune.
 
@GrossOrNet

So are you saying that it's cheaper for an AIB customer to pay for stuff with their debit card directly?

I think we need a Key Post - how to reduce payment charges

Something along the following lines:

How to avoid payment charges
1) Use cash
2) Use Revolut or N26 - on your phone or your card - no charge
3) AIB via the debit card

When contactless payments are charged for
1) AIB via your phone
 
so is it established that you are in fact paying 20c every time you tap with a phone via google pay or apple wallet linked to an aib dr card?

Just looked i am paying around 30 euro a quarter in fees, never bothered to check what the fee basis was, that must be it! doh!
 
Exactly, I always thought that phone tap is free as a card tap, but last year I took my time to analyse my bank charges line by line for the whole year and have found this out that card tap is free, but phone is not. Since then, I now use my EBS for daily purchases and Revolut for any odd transfer to friends. While my AIB is just for a salary and rent - I suppose I could have these changed too in order to save 22.80 Eur a year.
 
I top up my credit card with my monthly spending allocation and use it daily. There are no charges per transaction on AIB credit cards. I also pay my Sky using credit card for that reason and try to only make one payment to my credit card per month so that I'm only incurring one charge for that per month. It's a little awkward but it does work.
 
Brendan Burgess said:
@GrossOrNet

So are you saying that it's cheaper for an AIB customer to pay for stuff with their debit card directly?

I think we need a Key Post - how to reduce payment charges

Something along the following lines:

How to avoid payment charges
1) Use cash
2) Use Revolut or N26 - on your phone or your card - no charge
3) AIB via the debit card

When contactless payments are charged for
1) AIB via your phone
Click to expand...
Maybe a key post "Banking Options" with summary and main account options and the main charges

AIB
BOI
PTSB
Credit Unions
Revolut
N26
Bunq
iCard (I'm finding this to be my favourite)

other fintechs?
 
peemac said:
Maybe a key post "Banking Options" with summary and main account options and the main charges

AIB
BOI
PTSB
Credit Unions
Revolut
N26
Bunq
iCard (I'm finding this to be my favourite)

other fintechs?
Click to expand...
Good idea - I'm looking forward to your key post already.
 
Hello,

I also use a combination of Revolut, for all small transactions, and pre-load it once a month, and my credit card for larger transactions, and ensure I clear it once a month.

I have my Revolut card linked to Google Pay, for all contactless phone payments.

Now that Revolut have given me my Irish IBAN, I've very tempted to move some of my direct debits over to Revolut, to reduce Bank charges further - although not my Homeloan, for fear of having to try and deal with Rita, or worse still the Revolut staff, if something went wrong.
 
peemac said:
Maybe a key post "Banking Options" with summary and main account options and the main charges

AIB
BOI
PTSB
Credit Unions
Revolut
N26
Bunq
iCard (I'm finding this to be my favourite)

other fintechs?
Click to expand...
You're missing EBS.
 
GrossOrNet said:
You're missing EBS.
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Last I heard, EBS were reviewing their operations...

www.bonkers.ie

EBS reviewing its operations as part of strategic review

The subsidiary of AIB has confirmed that it is undertaking a strategic review of its operations, which could see it stop offering savings products and current accounts and focus on mortgages instead.
www.bonkers.ie www.bonkers.ie

I'm not sure if the outcome of that review has been made known, but it did make me wonder if AIB were considering closing it down, or possibly, spinning it off.
 
MrEarl said:
Last I heard, EBS were reviewing their operations...

www.bonkers.ie

EBS reviewing its operations as part of strategic review

The subsidiary of AIB has confirmed that it is undertaking a strategic review of its operations, which could see it stop offering savings products and current accounts and focus on mortgages instead.
www.bonkers.ie www.bonkers.ie

I'm not sure if the outcome of that review has been made known, but it did make me wonder if AIB were considering closing it down, or possibly, spinning it off.
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However, they still operate and even if they have to decide to close their current account, this would take at least a year. They still open new accounts no problem. They have also slightly updated their website (not the online portal though). So I wouldn't exclude them.
 
ClubMan said:
Good idea - I'm looking forward to your key post already.
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Got the Irish Times to do it for me :D
www.irishtimes.com

How do fintech banking options like Revolut and Money Jar measure up?

Challenger banks tend to offer more flexible features, customer-friendly apps and, depending on the option you choose, lower fees
www.irishtimes.com www.irishtimes.com

They haven't listed iCard - https://icard.com/ - who also offer accounts to Irish addresses and supported by Bulgarian National Bank.
No charges on card payments or NFC payments. https://icard.com/en/full-tariff-personal-clients/currency:EUR/country:irl
Account set-up took about 5 minutes + sending of usual identity docs.
Selling point for me were the NFC wearables - I thought it would be a fun gimmick, but I find I'm using a key fob for most day to day payments (even over €50 as it will request pin entry). I didn't go for the hand implant which they also support :p
 
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