BOI Change Free Banking Conditions

Most companies insist on or encourage bills to be paid by Direct Debit so by excluding these and standing orders it makes it difficult for people to do 9 transactions so they will make money from these people. The regulator should take action but wont bother but people can take action by moving to Ulster, NIB or just playing the silly merry go round with 9 transactions of €1 for example.
 
hi, can i just ask a quick question
I give my daughter her lunch money and her pocket money every sunday night n she puts the pocket money into her own Ulster account after school. can I transfer the pocket money to her account over the phone or using 365online and if the answer is yes what info do i need to set it up.
I pay all my bills by dd except one s/o to credit union.
thanks peeps
 
rebecca1999 said:
can I transfer the pocket money to her account over the phone or using 365online and if the answer is yes what info do i need to set it up.
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Assuming you, and the account from which you'll be transferring the funds, are already set-up in 365 Online ..

Set up your daughter's Ulster Bank account as a payment beneficiary
Payments > Money Transfer > Add a Beneficiary

When you've provided those details. BOI then send you a code with which to complete the set-up. This will be by letter, or can be by SMS if you're already set-up for that.

When your daughter's account details are fully set-up in 365 Online, you can then transfer funds.

However ..

If you want her to have access to the funds on Monday morning, you'll need to make the payment, using 365 Online/Phone, before 5pm on the previous Thursday, assuming the Friday and the Monday (and the Thursday !) are all bank working days.
 
thanks for the reply, have set it up today. she doesn't need to access the money immediately so no problem there. Thank you again
 
Just a quick question. Myself and my wife both have current accounts with BOI. Now im not worried about the new charges affecting me as my wages go through this account and also I pay at least 3 bills a month online.

My wife however is unemployed and receiving no income at all. She got the dole for 12 months and then didnt qualify for any other unemplyment assistance. So I`m sure she can manage 9 transactions per quarter but she wont have capital going in to cover the €3,000.

My question is: Can I transfer money in to her account and then back out and have that qualify as money going through account to mee the terms, i.e. I put €1000 in to her account each month and get her to transfer it back in to my account 24 hours later, or does the money need to sit there for a certain amount of time, be it the end of the month or whatever.

Thanks in advance.
 
Lodge in a fee quarter at least €3,000 - your plan will work also her transfering it back to you will count as a transaction for her - it really is silly but it's entirely BOI's fault.
 

I think very few utilities give a discount for paying by direct debit. UPC and Bord Gais come to mind. No phone companies or ESB though?
 
DrMoriarty said:
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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I like that idea. Forgot about paying bills in three thirds. Pay 9 transactions of 1c and then the balance, just to get the point across.

Sure, they can increase the minimum transaction amount, but not above €1, I'd say, so they just pay 9 x minimum plus the balance.
 
karlitob said:
Just to clarify. DD/SO does not count. But scheduled transaction does??

Thanks
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DDs and SOs don't count. A payment scheduled from within BOI 365 Online counts as a normal B365 payment however you can only schedule 60 days in advance and not recurring like a DD or SO.
 
From theresa1's linked article ....:

"But Fitzgerald points out that the bank has made it “very difficult to hit the target of nine transactions a quarter because they no longer include standing orders and direct debits when calculating a number of transactions”.
She suggests one easy way people could avoid the charges: by transferring small amounts, say one euro three times a month, to a friend.
Another way to circumvent the charges was suggested by a call centre worker with the Bank of Ireland. If you owe €90 on your credit card, rather than pay it in one fell swoop, go online and make nine separate payments of €10. Alternatively, do the same thing over the phone – it will waste your time and a bank employee’s but will mean you meet the new requirements."
 
"very difficult to hit the target of nine transactions a quarter because they no longer include standing orders and direct debits when calculating a number of transactions”
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Good point. I will add this to the best buys.

The other alternative is to just walk with your feet. The great Irish Times article makes the condition fee alternatives clear.
 
Does Ulster Bank allow you open two current accounts - one personal one business? I am currently with AIB and BOI but am sick of the hoops in both and impending changes in BOI....
 
CiaranT said:
The other alternative is to just walk with your feet. The great Irish Times article makes the condition fee alternatives clear.
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I'm in the process of switching to Ulster Bank. That announcement by BoI was the proverbial straw - another kick in the teeth. Have been a customer since joining on the UCD campus in 1992. Enough is enough. And I will say that to them the day I close my account and cancel my CC with them. Just waiting for approval now from UB.
 
I have a small questions, I have a personal current account in BoI and im going only gonna use it from now to receive international transfers and withdraw money abroad. No DD, no standar order, no toping up mobiles, or anything else but this. plus in a quartes i will probably make 10 movements, no more. Will I qualify to pay 11.90 a month or I can pay by transaction 0.28 each, 2.80). paying by transactions oesnt sound too bad for me for the way I use my card, but 11.90 for this kind of use... no thanks!

ideas? Thanks!
 

It sounds like you will not meet the T&C's below, to qualify for free banking:

 

You can get free banking if you maintain 3000 euro in your account at all times.

If you don't qualify for free banking, you'll be charged at least 11.90 per quarter - for the first 90 transactions, even if the actual number of your transactions is going to be much smaller. At least that's how I understand it. And yes, I agree, it's a rip off in cases when only a few transactions are made (or none).
 
Oh, well, it won-t work for me anymore making such a little number of transactions. Shame, over all I was happy with my account! Will check and report back!!
Thank you!!!
 
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