BOI Change Free Banking Conditions

suemoo1 said:
i have a currect a/c with ulsterbank pay 10e a month maintenance and all else free.. ive never had any problems with them on line or in their branches.. the card reader is only used for certain online transactions and it makes it much safer!.
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10€ a month sounds quite expensive to me...
 
TarfHead said:
Lodge a minimum of €3000 over 3 months
- many peoples salaries means that's easy

Make 9 payments a quarter using 365 Online or Phone
- pay utilities(ESB, Bord Gais, SKY/upc, mobile provider), credit card, etc. each month means that's not a significant obstacle.

No-one wants to pay for something when you're used to not paying but ..
- banking is a service and not many services are free, or stay free for long
- these free deals were a competitive response to Halifax and others
- the banks are broke (or haven't you heard ?)

All in all, it's not great news, but it's not the end of the world.
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Not when someone is unemployed!!!
 
Black Sheep said:
Never ceases to amaze me the lengths people will go to in order to avoid paying bank charges. It bugs me also to have these charges dumped on us, but it's like any other service that we use, we now have to pay for it. This is not the first time we had bank charges.
For me it's not worth the hassle of changing account numbers, cards etc.
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You must have money to burn so
 
Does anyone know off the top of their head if there are any business accounts with no fees? The amount I pay to AIB every month, between the fees and the online banking, is just crazy for a small business. I've finished my "introductory offer" and I won't go back to BOI. Ever. :)
 
dahamsta said:
Does anyone know off the top of their head if there are any business accounts with no fees? The amount I pay to AIB every month, between the fees and the online banking, is just crazy for a small business. I've finished my "introductory offer" and I won't go back to BOI. Ever. :)
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Hi Adam,

AFAIK, all business current accounts charge transaction fees.

What is the biggest fee that is hitting your business? is it wire fees?

Do you have large deposits in your current account? NIB pay 2.5% for this online instant access business eSaver account.
 
Nah, it's just a constant barrage of fees for every single transaction. It's not huge money, it's just far too much for the service they're providing. Which is of course close to none.

Large deposits? I should be so lucky. :)

I'll have a look at the invoices, see if anything stands out the last few months.
 
So it's Feb 21st. Does it mean that we have to meet the conditions in a quarter before that date ? Or after, starting to pay May 21st if conditions are not met previously ?

Someone mentioned paying into savings accounts by 365online transfer. Is it even possible ? I thought that savings accounts require direct debit (which does not count).

I have 2 accounts: boi and ptsb. Use to transfer 2k to ptsb every month, 1k goes to ptsb monthly saver later on, rest is spent (1k lodgement per month and 18 transactions on ptsb visa per quarter to get their free banking). I guess I will have to do few more clicks now.

Or just close one of the accounts as interest is a joke anyway.
 
crazypole said:
Someone mentioned paying into savings accounts by 365online transfer. Is it even possible ?
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Absolutely - I did 3 of them yesterday

crazypole said:
I thought that savings accounts require direct debit (which does not count).
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Not so, most deposit accounts are demand - lodge and withdraw at will, including with browser/phone.

crazypole said:
Or just close one of the accounts as interest is a joke anyway.
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True for most demand deposit products.
 
looking2011 said:
I can see this policy generating a huge increase in the number of 'pretend' online payments, for eg €1 into my savings account using B365 counts as a transaction. Or people paying their Esb online in 9 divvided transactions to generate online payment count. I would not like to be in BOI 's IT dept when these charges kick in!!!
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This is precisely the kind of thing I will do. It doesn't suit me to close my BoI a/c because they have a sub-office in my place of employment. But I resent this move and if enough customers start effecting nine €0.01 transactions every 89 days, maybe the message will eventually filter back up to the management level at which this decision was taken.
 
DrMoriarty said:
This is precisely the kind of thing I will do. It doesn't suit me to close my BoI a/c because they have a sub-office in my place of employment. But I resent this move and if enough customers start effecting nine €0.01 transactions every 89 days, maybe the message will eventually filter back up to the management level at which this decision was taken.
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They will just set a minimum transaction level of x amount. :mad:
 
Does anyone know is there a thread on how to switch from BOI current account to Ulster Bank current account?
Has anyone done this yet, and any issues?
I assume I just go to UB and give them details of BOI account and let the switching code of conduct between banks arrange the move.

Ulster bank current account is free per its your money(dot)ie website current account cost comparisions. Apologies but cannot post link as less than 15 posts!
 
I have a BOI savings and current account but I get my salary paid into my savings account as I had this before ever having a current account. I was going to notify my employers wages dept to change payment to my current account but i can move it myself every month - i already normally do this and of course i will be playing around with transfers to make sure I do 9 transactions in total.
 
Hi all,

A question on this. My 365 online is set up as follows:

My main current a/c
A 2nd current a/c used as a 'hub' for my flatmates and I to lodge bills, rent etc
A savings a/c
Credit Card a/c

I make quite a large number of payments between the two current accounts so I don't think I should be affected by these charges. I presume transferring between the two accounts using 365 online counts as a 'debit payment?'
 
Gotta love this. Have been with BOI since 1999, I have mortgage, various savings & investment products, I have not stepped into my branch for over four, yes four years, and everything in and out of my two current accounts is electronic (no idea where my cheque book even is).

Understand the idea is to get people out of branches as this is where most of the cost is, but why not include direct debits and standing orders - they cost nothing to transact !!!

Think I'll be switching!!
 
pepperds said:
Understand the idea is to get people out of branches as this is where most of the cost is, but why not include direct debits and standing orders - they cost nothing to transact !!!
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+1

They should include direct debits and SOs in the 9 transactions. I haven't been in my branch in about 6 years I'd say.

I had planned to schedule 36 transactions tonight (for 2011) but you can only schedule 60 days in advance. (They got me!) Anyhow, I have scheduled nine for 1st March to one of my savings accounts. I am going to do the same for the other billing periods. So, I'll be scheduling payments for for 1st June, 1st September and 1st December!

I could leave 3000 on deposit but I wouldn't give them the satisfaction (or, that wouldn't satisfy me at least!).
 
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