Average current account fees €90 per year

I've wondered if the days of retail banks are numbered.

Maybe all they'll become is merely personal cash management platforms with things like savings and loans offered through their platform by specialist 3rd parties or crowdsourcing.

I think something like Realex Fire could be the first shoots of the new method of this.
 
I feel I'm no more knowledgeable on whether to switch from BoI to PTSB.
I have all accounts with BoI. But I hate paying for something thats free in PTSB.
Help!!!
 
karlitob said:
I feel I'm no more knowledgeable on whether to switch from BoI to PTSB.
I have all accounts with BoI. But I hate paying for something thats free in PTSB.
Help!!!
Click to expand...

Regardless of what happens to retail banking in the future. I would agree with you, why pay BOI for services that PTSB provide to you for free. Providing you lodge 1500 to the PTSB account each month there will be no charges.
 
karlitob said:
I feel I'm no more knowledgeable on whether to switch from BoI to PTSB.
Click to expand...

It is not a difficult decision. You are financially better off with PTSB.

Imagine it was electricity supplies and one provider charged nothing and one charged 100 EUR or so, which one would you choose? The decision is that simple.
 
markd78 said:
As far as I am aware once you have minimum of 2,5k keep on your current acc with AIB there the acc and transactions are for free.
Click to expand...

Yeah, 2,500 EUR minimum, each and every day which probably means an average balance of circa 3,000 EUR which has an opportunity cost attached to it.
 
I actually overheard a person in work on the phone the other day saying that balance was now €2,500 and to make sure they would not get hit with any more charges. I felt like running around to them and telling them to switch to PTSB.
 
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