BoI Change Free Banking Conditions Again (November 2012)

has anyone switched their current account to the Credit Union? Would it work for wages, direct debits, mortgage payments etc?
I heard on the radio they don't charge fees...so I'll do a bit of research and see what I can find. But just wanted to see if anyone here is already with them

Also, for those posters above who said they'd stop using their debit card and put all spending on to their credit card, then pay it off in full every month....you should really look into the Tesco credit card. The points that you can earn are posted out to you in cash back vouchers each month which you can use in store....or transfer into vouchers for approved suppliers/deals at x4 times the value.
I've been putting everything on the credit card for the past few years and built up over €300 in tesco vouchers. Last summer they had an instore offer- double the value of your vouchers for purchasing baby products instore for example....we got enough nappies/wipes etc to last us a year!!!! essentially for nothing!
 
Opened a PTSB current account today in under an hour in the branch. Dont trust UB after previous IT fiasco. Will see how PTSB goes......
 
Pator said:
As of yesterday afternoon I am an Ulster Bank customer and they are handling the switch and closing the B of I current account - and all thanks to this thread!! .
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theresa1 said:
Well done pator for making the move rather than like most of us winge,complain and take no course of action.
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Pator said:
Thanks Theresa,

Ya, I reckon its one of those things that complaining aint going to get us anywhere; so may as well take action.
I would suspect they are relying on a certain amount of customer inertia - of course I have no evidence to back that up.

In fairness Ciaran and the bestbuys thread made it easy as I didnt have to spend time researching the options. .
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Just a quick update to anyone that is still thinking about moving/meaning to move/ didnt get around to moving / etc

As I said the initial meeeting was short, took the id docs with me.
Account set up there and then
Opted for switching and for them to close my bofi account and transfer the funds
Opted to be kept informed by text.

Got regular updates by txt
The money moved from my old b of i account into new account
Salary went in, mortage went out.

Totally painless!!!!!

No real down sides - I took out extra cash in case I had no access when the transfer was happening but didnt need it as all done quickly and had the credit card anyway. The ulster bank card reader took about 10 days to arrive before I could set up new accounts to transfer money to - but they told me it would take 10 days to arrive. They did highlight free day to day banking only guaranteed until July 2013 - but look at options again then.

From my experience - very easy to switch current accounts.
 
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Quick question on this. I haven't got any notification of this and no transaction fees appear on my online account. Does this mean I'm not being charged? or are the fees only shown at the end of the quarter. I don't want to ring and ask BOI incase they cop on that I'm still marked as a graduate 10 years after graduating. I'm hoping this graduate status may be resulting in no fees for me.
 
Sideview said:
Quick question on this. I haven't got any notification of this and no transaction fees appear on my online account. Does this mean I'm not being charged? or are the fees only shown at the end of the quarter. I don't want to ring and ask BOI incase they cop on that I'm still marked as a graduate 10 years after graduating. I'm hoping this graduate status may be resulting in no fees for me.
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Afraid they charge quarterly; furtheremore
the new system onlly kicks in on Monday Nov 19th
these fees will then be applied in March.



Your annual statement says what type of current account you currently have -
have you done less than the 9 transactions or maintained less than €3000 in the past and still not been charged fees???
 
Thanks Pator...I probably should have read the previous posts more carefully to see
the date it is starting on. Some how I had Nov 1st in my head.
I'll check what my annual statement says. I met the citeria previously for no charges
so it was of no concern to me. Cheers
 
Does anyone know what constitutes a transaction for fees purposes? If you lodge money is there a charge to that? Are there charges for direct debits? I understand that ATM and laser will attract charges but will anything else?
 
Just checked with BOI and absolutely everything is a charge including lodging money! So if you pay your bills, loans etc and get your salary lodged in etc it would be very easy to reach the 90 transactions without evening using your card depending ont he amount of bills and loans. I find it a bit much that they charge you for paying a loan which they themselves ask you to set up a direct debit for!
 
Does anyone know what the charges are on savings accounts and can you have direct debits etc on that. Just looked at BOI and it does not seem to charge for cirrus for atm or maestro debit card so is that a possibility?
 
I've kept open a savings account which attracts no fees, but I can't have a chequebook or a VISA debit card - just a little chipless BoI card for withdrawing cash at (BoI) ATMs.

It's enough for my needs since I also have a current account with UB which is fee-free (at least until next July).
 
I also have a BOI demand savings account which i have always had my salary paid into and only now I have realised that i can also do transfers with this account on 365 - pay bills, transfer money out to other bank's etc. I cant believe I did not know i could do this - mind you they don't advertise the fact.

So if you don't have €3,000 to sit in your BOI current account why not open a demand savings account as well and get your salary paid into this and then you can use this for all your transactions except for standing orders and direct debits.

The best bit transactions are FREE.
 
No TarfHead just a basic ATM card but if you do alot of transactions you could save alot.
 
Does it only work at BOI ATMs?

Do you not need a BOI currenct account to open the saving accounts, no?

If not sounds like a loophole waiting to be closed!
 
Yes, it's only for BoI ATMs, and no, you don't have to have a current account — I just closed mine last month, but kept open this savings account for the purpose of lodging the occasional cheque (BoI have a sub-office in my workplace). You also get to keep your online banking, so you can make online transfers "manually" from your savings account — but not set up DDs or Standing Orders.
 
Not BOI specific but I even manage not to have to pay the Government Stamp Duty as I dont use the card at all. I could get caught for the duty if i used the ATM to say lodge a cheque.

Solution - i'll use my new NSB card from State Savings and buy new 4 or 10 year bonds. We can still take steps in many ways to avoid charges. However I'm sure BOI people read this so we could be shooting ourselves in the foot like for example with the 9 transactions fiasco they brought upon themselves.
 
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