Banking fees

M

Michael_t

Registered User
Messages
7
For years I just ignored what fees I was paying etc but now after throwing my eye over it I see that there's obviously money I'm throwing away. I bank with BOI and have only a couple of DD coming out of my account every month. I typically do an ATM withdrawal for my rent for the month (€500). For everyday expenses (food/petrol) I use both contactless payments (free at the moment but 1c per transaction later this month) and Visa debit card transactions (20c at the moment, reducing to 10c soon). ATM withdrawals will cost me 25c. I know I can avoid paying these fees by keeping 3k+ in the account for the full quarter but that won't be happening.

Let's just say I wanted to continue banking with BOI, is it best the just make a large-ish withdrawal at the beginning of each month to cover most of the above? Obviously the downside to that is having a good bit of cash lying around for the entire month but upside is that you just pay the one fee for that month (10c). I know we're talking small money but I'm just looking to make any savings possible.
 
Do you earn more than 1500 a month ? If you change to PTSB you will get free banking. Why not open one anyway and the switch things over as it suits. No worse than what you are currently proposing (assuming you qualify for free banking).
 
Thanks. Earn more than 1500 a month, yes. Why does changing just seem like a lot of hassle (probably isn't but it's not something I've done before). What are the drawbacks to changing? Surely PTSB can just start introducing fees like everybody else as soon as?
 
I swithced recently from boi to kbc...was painless enough to switch, just needed to fill out and sign a form or 2 and drop into the bank...

I found BoI to be a rip off fe wise and also their customer service is poor.

KBC's fees are less (not yet sure how much less) and their customer service is very good, its efficent, friendly and you done have to speng ages on hold or picking options....their app is good too...
 
i was been charged a lot more than 5 a quarter by boi....dont need loads of branches. do most bank through app or over phone...beside they have a few branches that are well placed for me plus their customer service is a pleasure to deal with compared to boi.
 
BofI fees do drive me nuts but I've been with them for over 20 years with no problem. And I've heard of lots of issues with PTSB, ULster Bank etc. Not to mention the solvency of PTSB. For the relatively small amount of fees with BofI I think it's money well spent. I prefer to give this money to BofI to mind my money etc than to Sky or a pub!
 
I changed over to PTSB about a year ago. No problems whatsoever. Other than a few charges for using my debit card in the UK, I haven't paid them any fees. I'd have paid BOI about 150 for the same period.
 
I moved to Ulster Bank from BOI. I now pay €12 per quarter in fees, but what I like is that it is fixed. I'm not worry all the time about how many transactions I have. I use my online banking a lot, so this suits me.

I don't like BOI's fee structure.
 
All I'm saying is that Ulster Bank had huge IT problems a short while back, and PTSB has solvency problems and need more capital soon. BofI is the best of a bad lot.
 
Not sure if BOI are the best of a bad lot. Calculated that I'm paying approx €150-€200 annually by using them. By switching to PTSB I'd be saving myself that amount. Looks to be a no brainer but I'll do some more research before deciding.
 
BoI may be the best of a bad lot. But why bank with any of the bad lot - they re all bad for various and similar reasosn. As someone who banked with BoI for years and am now with KBC all I can say is I am very happy with my decision for the reasons I outlined above and whats more I am happy to recommend them to friends and family and have been doing so. General vibe I get is that people are fed up with BOI/AIB in particular.
 
You must log in or register to reply here.
Back
Top