BoI Change Free Banking Conditions Again (November 2012)

BOI seem to be on a campaign to ensure everyone will be paying fees. I got a letter last week informing me of the "good" news that my graduate account is being migrated to a standard personal current account.

They have left me on a graduate account for the last 6 years! It's only supposed to be for 2. And now they decide to change my account.

They've obviously done a review of everyone's accounts to maximise the amount of customers who will be paying fees.
 
PolkaDot said:
BOI seem to be on a campaign to ensure everyone will be paying fees. I got a letter last week informing me of the "good" news that my graduate account is being migrated to a standard personal current account.
Click to expand...

"Good news" :rolleyes::rolleyes:

Did BoI at least advise you clearly as to the fees that you would now be paying?
 
PolkaDot said:
BOI seem to be on a campaign to ensure everyone will be paying fees. I got a letter last week informing me of the "good" news that my graduate account is being migrated to a standard personal current account.

They have left me on a graduate account for the last 6 years! It's only supposed to be for 2. And now they decide to change my account.

They've obviously done a review of everyone's accounts to maximise the amount of customers who will be paying fees.
Click to expand...

I got the same good news. I graduated in 2006 and have it till mid January. Was great while it lasted. I have only seen the email (I'm in Australia now) and yes they did clearly state the bank charges / fees on it.
 
The only notification of the change of fee was at the back of my bank statement received early December. Given the changes are from the quarter starting mid-November, it's not possible to react by leaving 3K on the bank account in time.

Beside the obvious moral problem to customers (am I supposed to be loyal to BoI?) are changes without notifications even legal?
 
The BoI T&C's state that they only need to place a newspaper advertisement.

BoI advertised in the press and posted the change to their website (or be it not in the most visible place). It was also discussed here and elsewhere at the time.

I have argued many times that banks need to do more to inform customers of rate changes and T&C changes. It would be very easy for BoI to place a notice when you log into your internet banking, for example.

You can monitor rates by subscribing to the best buys here.
 
The letter which I received did clearly advise of the fees and the two fee paying options which are available to me.
 
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