Moving current a/c, what happens credit card a/c?

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lilies

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Hello, my husband and I plan to open a joint current a/c with EBS (it's called an EBS Money Manager Account) We found this impartial site useful for current a/c comparisons: compare.consumerhelp.ie/currentaccount

Currently we have separate current a/c's with AIB, (I have a graduate a/c which comes to a close next month and my husband has a student a/c which is ok for a while yet and when that goes he'll be moved onto a graduate a/c which is still free banking for two years) My husband is keeping his AIB current a/c, as well as us having a joint current a/c with EBS.

We each also have student credit cards with AIB (credit limit of 1k on each). What happens my credit card when I move from AIB to EBS? We owe zero on either card and are almost never in debt on the credit cards. If I close my CC a/c with AIB will EBS give me a new CC? Or do I have to leave my CC where it is, with AIB? I know EBS credit cards are from MBNA.

I have a BSc and MSc in IT. I am completing a p/t online certificate course in programming with a foreign university. My husband has started a one year Springboard course with a local college. I plan to start my career in the coming weeks, at the latest before Christmas. But when I, we, move to EBS we will still be in receipt of a social welfare payment. Might this affect whether or not EBS give me a CC (even with a limit of 1k), even though I already have one from AIB? Thank you.
 
I would leave your AIB CC accounts as they are. You can have CC account with AIB without needing a current account with them. I have this exact arrangement. Therefore you wouldn't need to apply to EBS for credit card.

Regarding current account, PTSB have better offering IMO than EBS. You need to lodge 1500 per month for free fees, whereas EBS only seem to give first five transactions free.
 
lilies said:
Hello, my husband and I plan to open a joint current a/c with EBS (it's called an EBS Money Manager Account) We found this impartial site useful for current a/c comparisons: compare.consumerhelp.ie/currentaccount

Currently we have separate current a/c's with AIB, (I have a graduate a/c which comes to a close next month and my husband has a student a/c which is ok for a while yet and when that goes he'll be moved onto a graduate a/c which is still free banking for two years) My husband is keeping his AIB current a/c, as well as us having a joint current a/c with EBS.

We each also have student credit cards with AIB (credit limit of 1k on each). What happens my credit card when I move from AIB to EBS? We owe zero on either card and are almost never in debt on the credit cards. If I close my CC a/c with AIB will EBS give me a new CC? Or do I have to leave my CC where it is, with AIB? I know EBS credit cards are from MBNA.

I have a BSc and MSc in IT. I am completing a p/t online certificate course in programming with a foreign university. My husband has started a one year Springboard course with a local college. I plan to start my career in the coming weeks, at the latest before Christmas. But when I, we, move to EBS we will still be in receipt of a social welfare payment. Might this affect whether or not EBS give me a CC (even with a limit of 1k), even though I already have one from AIB? Thank you.
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EBS don't issue credit cards anymore. Sounds like you've been reading some outdated info.

Moving current account should have no impact on your CC with AIB. They're separate products.
 
username123 said:
I would leave your AIB CC accounts as they are. You can have CC account with AIB without needing a current account with them. I have this exact arrangement. Therefore you wouldn't need to apply to EBS for credit card.

Regarding current account, PTSB have better offering IMO than EBS. You need to lodge 1500 per month for free fees, whereas EBS only seem to give first five transactions free.
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Thanks for the info. You see I'm not sure when exactly I will be in a position to lodge at least €1500 pm. And my AIB graduate a/c comes to an end in Nov. We very seldom use ATM's. Maybe once a month if even that. For now EBS makes sense in our particular case, perhaps longer term we will move again or if we're happy with EBS we might stay with them. But for now, EBS suits us as there are no fees. Thanks.
 
http://compare.consumerhelp.ie/CurrentAccountCompare.aspx?i=239,414,

EBS don't issue cheque books but if you have a problem with the €1,500 then it's a good choice.

Customers can get 5 free withdrawals each month by ATM or in branch (cash or cheque) if either at least €1,500 is lodged to the account each month, either in one lump sum or in instalments or a minimum balance of €500 is maintained in the account each month.
 
Willy Fogg said:
EBS don't issue credit cards anymore. Sounds like you've been reading some outdated info.

Moving current account should have no impact on your CC with AIB. They're separate products.
Click to expand...

I see. Didn't realise that EBS didn't do CC's, that's a bit odd. Guess I leave my CC with AIB then. Thanks.
 
username123 said:
Watch out as there are fees for EBS unless you lodge 1500 or keep 500 balance: http://www.askaboutmoney.com/threads/personal-current-accounts.21774/
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Yes, there are fees of 30c per ATM or branch withdrawal. But they are the only "daily banking" fees we can see. You do get 5 free withdrawals a month as long as you have a balance of at least €500 at any one time. Aside from our credit union and AIB a/c's we have over €500 sitting in a PO a/c so we would move it to EBS and let that €500 sit there instead.
 
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theresa1 said:
http://compare.consumerhelp.ie/CurrentAccountCompare.aspx?i=239,414,

EBS don't issue cheque books but if you have a problem with the €1,500 then it's a good choice.

Customers can get 5 free withdrawals each month by ATM or in branch (cash or cheque) if either at least €1,500 is lodged to the account each month, either in one lump sum or in instalments or a minimum balance of €500 is maintained in the account each month.
Click to expand...

No cheque book either? Bit odd. We have an AIB one but in all the years we have had it we only ever used it a few times. We'll just take the €500+ we have in our PO a/c (it just sits there) and lodge it in our joint EBS a/c and get 5 free withdrawals pm, though we seldom use ATM's. For cash it's usually Cashback. For buying its usually POS payments. And no quarterly fees, we like that bit.
 
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Anyway, we opened an a/c today. Asked whether actual daily banking, current a/c's etc formed a large part of their business: no. Mainly mortgages, insurance products etc it seems. I'm guessing that EBS must have the smallest market share for actual banking, or maybe KBC. Though my guess would be EBS. Can't lodge foreign currency cheques either, so if I get a cheque from for example the UK or the US, drawn in sterling or dollars, I can't lodge it in our joint EBS a/c. Not sure what to do then. We also have a joint Post Office a/c so maybe I could lodge it there. My husband also has his free fess AIB a/c for another few years but that'll only work if the cheque is made out to him.

Overall EBS was a good move I think. If you have limited funds (as is our case for now anyway), can keep a balance of at least €500 at all times (we were letting it sit in our PO a/c in any case) and use Cashback more often than ATM's (we seldom use ATM's in any case). Then it's not too bad at all.
 
I have an EBS money manager a/c. I am presently abroad and use their card all the time as they charge 1% commission rather than the 2-2.25% charged elsewhere. They have a minimum charge, but for other than very small transactions this is a good deal if you travel outside the Eurozone.
 
Credit Cards are usually kept at arm's length from current accounts and deposit accounts within the same bank. I maintain a good balance in my Ulster Bank current account plus a good fixed term account. I recently decided that I would need to increase my credit limit on my credit card. Do you think that I could get the Credit Card department to contact my branch to confirm the information that I gave them. No way. I also asked my local branch manager to contact the credit card department to tell them that I had substantial balances in various accounts in his branch. I was talking to the wall.
Their decision on whether to increase my limit was based solely on my income as per my p60, nothing else. This was my experience with the Ulster Bank.
 
Our EBS debit cards finally arrived. Wrong surnames. We've a double barreled surname and it seems it didn't fit as they had added a Mrs and a Mr before the names, even though they reduced the first name to an initial, still didn't fit. Card services are ordering new ones with the correct names anyway.

The EBS card will be handy for when we go abroad to non-eurozone countries, lower charge (1%) on ATM withdrawals. Actually, I was just looking at that again.

EBS say:

Withdrawing non euro-denominated cash at the ATM, 1% of the amount of the withdrawal (minimum €1.91, maximum €6). The Mastercard Exchange Rate will apply.

AIB (the other bank we're with) say:

Non-euro transactions attract additional charges as follows, Cash Withdrawal Transactions 2.5% of euro value. Commission Charges, Cash Withdrawal Commission 1% of euro value (Minimum €2.00, Maximum €6.00)

I wonder if the Mastercard Exchange Rate and Visa Exchange Rate differ by much? I guess AIB use the Visa Exchange Rate (as they issue Visa Debit cards, EBS issue Mastercard Debit cards).
 
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In my experience MC may offer the better exchange rate, as the gap between my EBS card and my BOI visa often exceeded the 1.25% you would expect.

This UK article suggests MC marginally better on average
 
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