Bank of Ireland Change Current Account Fee Structure (February 2015)

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Bank of Ireland have made changes to their current account fee structure. Full details [broken link removed].

  • ATM transaction cost up from 20 cent to 25 cent per transaction.
  • Over the counter transactions up from 40 cent to 60 cent per transaction.
  • Automated transactions down from 20 cent to 10 cent per transaction.
  • Contactless payments up from free to 1 cent per transaction.

  • No change to 5 EUR per quarter maintenance fee.
  • No change to free transactions if you keep at least 3,000 EUR in your account each and every day.
  • Free fees still apply to 2nd Level Student, 3rd Level Student, Graduate and Golden Years current accounts.

There are also changes to business banking fees as detailed [broken link removed].

Of course you can avoid all these fees by switching to PTSB and ensuing that at least 1,500 EUR is deposited in your account per month.
 
Charlie Weston in the Indo reports on the changes .

The clear objective is to reduce cheque and cash usage, encourage electronic banking and squeeze more profits out of customers especially business customers. BoI have the least competitive current account offering in the market.
 
Bank of Ireland systems were described in the PLAR and PCAR reports as fragmented and no where near a European standard. Hmmm ..pile on the charges as we continue with a tattered infrastructure. Meanwhile Ulster Bank were fined - but they seem to have some semblance of a system of electronic banking for business. Meanwhile - the Stone Age continues down Mespil Road way.
 
BOI's fees are outrageous. Closed my account with them earlier this year. Hopefully more people do the same.
 
The Irish Times report on the changes to BoI charges today.

It is clear that there is an overall net increase in charges for both consumers and business customers.
 
Charlie Weston, in the Indo, reports further on the charges here. Some BoI customers are going to see significant increases.
 
"No change to free transactions if you keep at least 3,000 EUR in your account each and every day."

And what would you be looking at paying if it's below 3k?
 
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