Boi closing current account

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Dilemmas

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I have 2 joint accounts with boi...one is main personal current account for wages lodgement and general operation - pay bills, debit card facility, withdraw cash, operate dds etc! Second we opened without cards and set up a standing order from it...I'd transfer money in to meet the standing order. However on 2 occasions I didn't have money to meet the withdrawal kicking us into an authorised overdraft..and which I then didn't clear however I did cancel the standing order. My fault entirely. So boi contacted to say they're closing the account and I must clear the balance within 21 days. Fine no problem!

Anyway just got a second letter to say that due to unsatisfactory banking relationship they are closing our main current account also...gave me 60 day notice. I read up the t&c and there is a clause allowing them to do so but this seems heavy handed when nothing wrong with how that account has been operating and it also attracts sizeable quarterly fees as we don't maintain the minimum balance. Are the boi within their rights? From reading here seem pstb are a better option anyway but my hand is being forced and I wonder whether a bank can (ie is it standard/reasonable/allowable) cut off your account if they're not happy with the operation of another account? The OD on 2nd account is €400 which ill clear and close the account no problem. It's in relation to the main account I am querying. Also can a new bank refuse my application for an account if another bank has cut me off?

Thanks
 
Don't worry. Just ring their recovery department on 1850 222600

I got a similar letter a few months ago and i rang up and sweet talked to them.
They just need to feel loved. :)
 
It's really starting to sound like those people saying that BoI were increasing fees (sorry, simplifying the fee structure for greater transparency) in order to get out of the retail business might not be too far off.

I don't think PTSB are going to be terribly surprised at yet another transfer from BoI.
 
See it as a blessing and get away from them OP. The PTSB will be able to do everything the BoI did for you and for nothing (assuming you lodge at least €1500 pm)
 
Thanks folks...appreciate the responses. Boi certainly not endearing themselves with these type of actions. was pretty sick of the hefty quarterly fees and was to look into how to reduce them...we would certainly lodge more than 1500 a month, not all at once...but the idea of being pushed rather than jumping gave me the fright of my life - it's a bit like the question when renewing car insurance "have you ever been denied insurance". My mind is made up that we're ptsb bound!
 
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