Bank of Ireland prioritises financial wellbeing of customers!

Brendan Burgess

Founder
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The Central Bank had a big Financial Systems Conference on Wednesday attended by such luminaries as the Governor of the Bank of England, and various EU representatives. I attended the section on consumer issues.

I nearly fell off my seat when Myles O'Grady the Chief Executive of Bank of Ireland told the conference that the bank had been prioritising the financial wellbeing of customers through product innovation. Fortunately, they invited questions from the floor.

 
Yes customer service is not great ….took my wife an hour yesterday to move 50k to her aib account in the bank of Ireland branch !!! She said she felt on trial …why do you want to move it ? Are you sure etc !!!
 
I have to disagree with you when you say they lock people into accepting a fixed interest rate before they can potentially switch to a lower rate. While that is true fixed interest rates work both ways. You can't switch to a lower rate, but you also can't have your interest rate increased either. I'm sure people who fixed a year or two ago are happy they did. Not to mention that I am pretty sure BOI offer cashback on variable rate mortgages as well.
 
A lot depends on the individual staff in a branch. In my own case, when we moved funds from UB to BoI for my Mam after UB announced it's closure, they could not have been more helpful as it was slightly complicated due to PoA etc. Yes, they had some boxes to tick but they did it professionally. I know of others elsewhere who had nightmare experiences

Having said that, their app sucks and their online banking is not much better. Not a patch on Ulster
 
Brendan Burgess said:
Hi Connard

That was the journalist's explanation of the cash-back, not mine.

Brendan
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Really?! That is a poorly written article so in my opinion. It looks like it is a continuation of what you said in the paragraph before. Sorry for the mistake.
 
mtk said:
Yes customer service is not great ….took my wife an hour yesterday to move 50k to her aib account in the bank of Ireland branch !!! She said she felt on trial …why do you want to move it ? Are you sure etc !!!
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Why didn't she do it online? Maybe the questions were to make sure she wasn't being conned.
 
Connard said:
Really?! That is a poorly written article so in my opinion. It looks like it is a continuation of what you said in the paragraph before. Sorry for the mistake.
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It would be helpful if a mainstream newspaper had reported. At least the Daily Mail. did. Anyway it sounded pretty much like a back slapping exercise. Where they all tell each other how wonderful at banking they are.

I'd like to know which product innovation BofI are referring to. I'd also like to know why on my ipad I have to turn it sideways to bank. And why I can't bank on a computer like I did with Ulster.
 
Bronte said:
Why didn't she do it online? Maybe the questions were to make sure she wasn't being conned.
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A limit of €20,000 on online transfers with BoI. You have to go into a branch for higher amounts.

I have no issues when transferring money in my branch. Others are in sales mode and try to sell you products if you have large amounts. You get the same with the other banks.
 
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