Banks and Bank Charges

Banks and Bank Charges

I want to know which is the best bank to be with regarding bank charges and fees. If your wages goes into your bank a/c do you get reduced charges and fees. I have some S/O's, D/D and an Overdraft of €250. I get paid weekly. I'm with Ulster bank but I'm thinking of changing banks. I have an a/c with AIB where I put money in each week to pay for mortgage and bills. My bank charges for both banks in total is approx. €200 p/a My wages have been reduced considerably and I need to find ways to save money. I am probably better with just 1 bank a/c. If I close down AIB a/c I will have to rearrange for my mortgage and bills to be paid out of a different a/c. Will the bank do this or do I have to contact the Mortgage provider directly? Would I be better putting my wages into the credit union. Can I pay bills through any of the credit unions? What is my best option please Thanking you Gillie

Gillie,

I think for the next 2 months ptsb will still give free banking subject to lodging 1,500 +per mth into current account.
Call to any ptsb and or phone them to be sure.

On closing AIB ac the system is set up to seamlessly transfer over dd,s so,s etc, the bank does this.
(I am sure there maybe some glitches)

With mortgage check things like ,have you too much insurance? is your insurance competitive.Would it pay you to change (or threaten )
If electricity provider @ home charges more than 15 cent per unit ,change = save 150 per year if you are on standard charges.

Gillie,

You are best opening a current account with PTSB. There are no day-to-day fees provided you deposit at least 1,500 EUR per month. In September 2015, according to the Indo, PTSB will introduce fees but for new customers only. Hence, you need to become a new customer before September 2015 to avoid fees. Therefore, you need to act quickly.

Possibly a stupid question:

If I open a current account with PTSB but put no money at all in it, I take it they then can't charge me any fees? I ask because I would open it with a view to using it down the line as a current account, but not just now, for complex reasons

settlement said:

If I open a current account with PTSB but put no money at all in it, I take it they then can't charge me any fees?

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Most banks do not apply fees to inactive current accounts. You will need to ask PTSB but most likely they will not apply fees to accounts with zero balances and zero movements.

The other option is to simply wire 1,500 EUR in and out of the account each month.

Thanks

Ptsb charge 12euro per quarter of you haven't lodged 1500 in the account.

I had a period of 12 weeks where there were only 3 transactions and the charge was 12 euro.
But ever other period, no matter how many trans I did, it was free once the 1500 was lodged.