NIB Custody Account - New Charges

NIB are now going to start charging € 40.00 per annum - billed twice yearly.

I have found it good over the years but am not happy to pay this charge and will likely clise my Custody Account.

Does anyone know if there is any alternative that is still free to use with cheap transaction charges ?

Thanks

Just got the same letter today.

I was happy with the service they provided but will now be looking at my options.

If I decide to close the account do I have to transfer shares to a different account or can I request them to issue paper certs?

Also being discussed here http://www.askaboutmoney.com/showthread.php?t=155000

It's probably heresy for this site, but why is there an assumption that there is a free alternative out there? In this day and age where banks are banjaxed and need to try and return to profitability (i.e. stop sponging off the taxpayer) they can no longer afford to loss-lead on products.

I suspect that NIB is re-introducing the fee because the volume of share trading by the not-so-wealthy Irish has collapsed. I also suspect from other posters on other threads that many of the custody accounts contain near-worthless Irish Bank shares which should have been sold years ago. Did any one explain to them about "stop-loss/take-profit"?