Lodge a minimum of 3,000 EUR per quarter AND make 9 debit payments by phone or online.
OR
Maintain a minimum balance of 3,000 EUR for the entire quarter.
Plenty will move to Ulster Bank.
Plenty will move to Ulster Bank.
You would think so. But Irish people are nortoriously loyal or lazy when it comes to switching accounts.
The Consumers' Association has criticised the decision by the Bank of Ireland to start charging some of its customers fees and charges for the first time.
Bank of Ireland has confirmed that some of its customers will face fees and charges for the first time.
Current account holders who do not make at least nine payments every three months will have fees imposed on them.
From 21 February, Bank of Ireland customers will also have to have at least €1,000 a month going into their account and make nine payments or more every three months using Banking 365 phone or online banking.
Alternatively, they should maintain a minimum credit balance of €3,000 during the fee quarter.
Customers who do not meet the new criteria will be charged 28c for each transaction.
The majority of the bank's 1.2m current account holders will be subject to the new fees.
26% of customers will not be affected as they hold 'Golden Years' or student accounts.
The bank says providing customers with current account facilities costs it money.
The changes have been criticised by the Consumers' Association.
Derek Jewell described the fees as another kick in the teeth for customers of the bailed out bank.
they should maintain a minimum credit balance of €3,000 during the fee quarter.
is a direct debit each month classed as online banking?
I was planning on moving my current account from AIB to BOI, because I like the simplicity of BOI's minimum 500 4 rule but 3,000€ will be more difficult! Having second thoughts now....
Would you consider Ulster?
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