BoI to change fee structure - No Longer Possible to Get Free Banking

murphaph said:
Janet from February you'll be able to just use your German account for anything you need in Ireland. ;-)
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Like topping up my Irish mobile? Only a small thing and there are other solutions but it's just one of those small handy things I've been able to do with banking365. And the fees for withdrawing money from non-CashGroup ATMs are still a factor, too (okay, me being a bit better organised in general will take care of that but then there's still eurozone travel to consider). :)
 
Bank of Ireland introducing a €5 quarterly maintenance fee, enabling them to continue offering you the best banking experience some joke ,,​
 
Just as a point of information, I spent over an hour today trying to find out how to close my BOI account. After ringing my branch which of course brings you through to a call centre in Dublin, I was informed that to close an account you need to drop into the Branch or write to the branch informing them of the closure.
 
At least they allow you to simply write in to close.

They could insist on an exit interview to try and coerce you into staying.
 
breathe said:
Just as a point of information, I spent over an hour today trying to find out how to close my BOI account. After ringing my branch which of course brings you through to a call centre in Dublin, I was informed that to close an account you need to drop into the Branch or write to the branch informing them of the closure.
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Can you still close your account through the "switching" process they introduced a few years ago? When I set up my PTSB account, I set it up in branch and provided details of my old account. They contacted BOI and all DD's, SO's etc were transferred over and my BOI account automatically closed.
 
Nutso

Yes you can go through the 'switching process' I just had an account elsewhere already so no need to open a new account. It has just involved redirecting direct debits and payments.
 
For anyone who is fortunate enough to be able to leave 3k balance in their current account it appears that you have to leave that in your account up until the 16th August. That is the end of the Account Qtr and dropping below the min 3k will mean that fees will be incurred for the current Qtr.

That is the info I got from my Branch this afternoon, other posters may ber able to concur or advise if they got conflicting info..
 
Janet said:
Like topping up my Irish mobile? Only a small thing and there are other solutions but it's just one of those small handy things I've been able to do with banking365. And the fees for withdrawing money from non-CashGroup ATMs are still a factor, too (okay, me being a bit better organised in general will take care of that but then there's still eurozone travel to consider). :)
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3 letters: DKB ;-)
Free ATM withdrawals worldwide at any ATM displaying the visa sign (almost all of them). I don't have to look for cash group machines any more.

DKB will even refund private ATM charges that are added to your withdrawal if you keep the slip and send it in to them. You sometimes come across those machines in the united states.
 
That is right, the 3k applies to a full quarter so if you have 3k on your current account for 2 months, 3 weeks and six days, they charge you full transaction fees.
I still feel gobsmacked. I received the notification text on Monday. Statements like "Our new pricing structure helps us to simplify your banking experience whilst allowing us to continue introducing enhancements such as contactless payments, launch new online services, refurbish branches and maintain over 1,200 ATM's across the country. We hope these changes make it simpler for you to stay on top of your finances." makes me :mad:

I mean, robbing people by taking more money, how does that make it simpler for us customers to stay on top of our finances??? And with their million or so customers, they're in for a lovely new Income for the 5€ quarterly fee alone. The branch refurbishments are more than questionable too! It's BOI themselves who stated that the majority of customers use 365online. So there is Mary doing all the banking business herself, every bit of it, no BOI staff or branch required and there is BOI saying to make it more pleasant for her, they will charge her for her work. Brilliant! :eek:

Can anyone explain that contactless payment scheme to me? I have DD set up for every bill....
 
AFAIK contactless payment refers to payments with a card whereby you don't have to enter a PIN, in order to pay for goods. I remember reading something about it, and initially, the limit for which contactless payment could be used was low, as I assume it is more open to fraud. I was in Marks&Spencer some months ago, and the person at the till told me I could make a contactless payment, it was a small amount, as far as I remember. I don't know if the limit has increased since then, or not. HTH.
 
Clohass said:
For anyone who is fortunate enough to be able to leave 3k balance in their current account it appears that you have to leave that in your account up until the 16th August. That is the end of the Account Qtr and dropping below the min 3k will mean that fees will be incurred for the current Qtr.

That is the info I got from my Branch this afternoon, other posters may ber able to concur or advise if they got conflicting info..
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Seems to agree with page 7 of their fees and charges (not allowed to post links as I'm new but do a Google for "boi schedule of fees and charges" and it currently is the top post).

Only thing to be wary of is that this is inclusive. If I were you I wouldn't move your money until the 17th (well actually the 19th since 17th is a Saturday).
 
Clohass said:
For anyone who is fortunate enough to be able to leave 3k balance in their current account it appears that you have to leave that in your account up until the 16th August. That is the end of the Account Qtr and dropping below the min 3k will mean that fees will be incurred for the current Qtr.

That is the info I got from my Branch this afternoon, other posters may ber able to concur or advise if they got conflicting info..
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Clohass that is not the information I got in my Branch. Firstly, the staff member I dealt with could not have been anymore helpful. I went into the branch with my letter and a member staff spoke with me in terms of what to do closing down the account in terms of direct debits, etc.

We agreed that I would transfer the balance in my account online on the day I wished to close the account and the staff member will then close the account on that day. I will, however, get back to them to confirm this in terms of the fees.
 
They are going to start charging 20c for every contactless transaction from August 20, so you are facing pretty high charges for small transactions so people really should think about using this card function after charges are brought in.
 
sebadoh said:
They are going to start charging 20c for every contactless transaction from August 20, so you are facing pretty high charges for small transactions so people really should think about using this card function after charges are brought in.
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August 2014 I thought, so not for another year.
 
I was reading up on the fees at PTSB and am a bit confused. Am I reading correctly that they charge a setup fee of 5 euros per standing order and direct debit even when you qualify for the 'free' banking?
 
What happens if you withdraw all your money from a BOI current account but leave it open. Will you just built up a negative balance over time?
 
Clohass said:
For anyone who is fortunate enough to be able to leave 3k balance in their current account it appears that you have to leave that in your account up until the 16th August. That is the end of the Account Qtr and dropping below the min 3k will mean that fees will be incurred for the current Qtr.

That is the info I got from my Branch this afternoon, other posters may ber able to concur or advise if they got conflicting info..
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Just an update to say BOI account closed and I did not incur fees for the quarter.
 
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