Bank notification of change to student/graduate account.

[jobseekr1]

I opened a student account with BOI quite some time ago, and got a call out of the blue before Christmas to say my account as a student was finished (I left college the guts of a decade ago), and they would put me on a graduate account etc. I didn't think much of it at the time, just thanked the person.
Anyhow, I see from the BOI site the graduate account lasts for a year, so do the generally write to customers a month before fees come in, or is it up to the account holder to be on the watch?
The whole thing seemed strange given I finished university quite some time ago, is this typical?
If they change my account to standard current account I'll just switch to PTSB based on the best buys thread.

 

[PaddyBloggit]

Look at it this way ... you got a decade free of fees.

BOI are catching up on accounts that should have fees attached .... unfortunately they've now caught up with you.

I had free banking from BOI previously but they're catching me for approx. €25 per quarter.

 

[jobseekr1]

Fair point Paddy, but €25 per quarter is steep compared to KBC/PTSB though..But like you said if I've had free banking for years..

 

[Lightning]

The whole thing seemed strange given I finished university quite some time ago, is this typical?

It is very common for banks to do a bad job at failing to convert student accounts into graduate.

Anyhow, I see from the BOI site the graduate account lasts for a year, so do the generally write to customers a month before fees come in, or is it up to the account holder to be on the watch?

Banks generally do a better job at converting graduate accounts into standard accounts because graduate accounts only last for a short period of time.

You are best off not waiting for a call but rather switching to PTSB in advance of the expiry of your graduate account.