BOI revamping their current account charges

I am not happy with this increase but due to living in Germany I can not close the account. Does anyone know could I switch to another bank from here? Other then that If I just empty the account and leave it dormant would that stop the charges?
 
You can remotely close the account from Germany. The whole process can now be done online without visiting a branch.
 
Just received an email from AIB.
"Previously, we have waived these fees for customers who kept a minimum daily balance of €2,500 in their account throughout the fee quarter. However, from 28 November 2020, regardless of the minimum daily balance maintained throughout the fee quarter, we are going to start applying these fees which will be charged quarterly from 29 March 2021."

Looks like they're following BoI.
 
Looks like they're following BoI.
Nope, AIB aren't following. They originally announced this back at the start of March, but then delayed it because of Covid. Looks like they've done a U-turn in charging for contactless payments, but the rest of the changes are going through.
 
Nope, AIB aren't following. They originally announced this back at the start of March, but then delayed it because of Covid. Looks like they've done a U-turn in charging for contactless payments, but the rest of the changes are going through.
Must have missed that in March, March seems like a different life time now.
 
I am a firm believer in the market forces, so if you are unhappy with the service you bring your service somewhere else. I have no major gripes with BOI, but I am not willing to pay 72 euro a year for their current account services based on how much I use it. So I will close within the week and that will be that :) I am sure they wont cry over my departure, but I wont cry over their charges either.
Well said, agree completely. We're great in Ireland for giving out.

I was thinking of moving with the new charges. Does anyone know what EBS money manager is like. I'm a bit old school and really can't be bothered with Apple/Google pay and Banking Apps. But I would like on-line banking because otherwise I'd never pay my bills. Does anyone know if EBS bank account has that and if I can use my bank card abroad. I considered KBC, but I feel not being able to lodge cash would be a pain. Not that I lodge cash very often, but still.

Any advice appreciated.
 
currently I have the following
1 x current account with BOiI
1 x current account AIB
Wife has 1 x current account
we have 2 x joint accounts with AIB

These charges are a diaster
 
Well said, agree completely. We're great in Ireland for giving out.

I was thinking of moving with the new charges. Does anyone know what EBS money manager is like. I'm a bit old school and really can't be bothered with Apple/Google pay and Banking Apps. But I would like on-line banking because otherwise I'd never pay my bills. Does anyone know if EBS bank account has that and if I can use my bank card abroad. I considered KBC, but I feel not being able to lodge cash would be a pain. Not that I lodge cash very often, but still.

Any advice appreciated.

Up to about 2 years ago, I was kinda the same. I was more than happy to set up everything as a direct debit and let the bank do the work. I paid for most other stuff via cash (not helped by the fact my employer at the time had a cashless system in place and you had to top-up by cash only). Then I had a lightbulb moment and never looked back.

Since COVID I have spent about 30 euro in cash in total. Earlier this week I wanted to send my nephew some money for his communion and realised I had none, and neither did by wife. I had to explicitly go to the bank machine to get some (mainly because their parents did not have Revolut) !!

I use Apple Pay for all my small stuff (linked to a dedicated fintech card), and the rest is practically all contactless on by N26 account. We recently opened a Monese account for our joint account spending, and I can see us moving away from PTSB shortly for that too.

The only two times I have been in a bank branch in the last 3 years was when I was issued cheques - once on successful appeal of a parking ticket and the other the refund for car insurance due to COVID. And both times they sat for about 3 months before I done anything about them, as it was a hassle.

Can I suggest you try something like an N26 - to compliment your EBS Money Maker - and see how you get on !
 
the interest is so low and they're charging to hold our money, we may as well go back in time and put it under the mattress
 
So Bank of Ireland have increased their fees from 5 euro a quarter (with minimum credit balance) to 6 euro a month - an increase of 360%!

Where is the Central Bank in all of this? What specific role have the Central Bank in authorizing increased banking charges? What is their role in protecting the consumer?

Anybody know their way around the Central Bank? WHO is responsible and accountable for this?
 
So Bank of Ireland have increased their fees from 5 euro a quarter (with minimum credit balance) to 6 euro a month - an increase of 360%!

Where is the Central Bank in all of this? What specific role have the Central Bank in authorizing increased banking charges? What is their role in protecting the consumer?

Anybody know their way around the Central Bank? WHO is responsible and accountable for this?

[broken link removed]
 
Would be excellent PR for Bank of Ireland to defer their increased current account charges seeing as they are due to commence in the middle of a nationwide lockdown.
 
Would be excellent PR for Bank of Ireland to defer their increased current account charges seeing as they are due to commence in the middle of a nationwide lockdown.

If you're loosing money on a service and have already determined that you would prefer to ditch non payers, why would you want to continue loosing money, it's not as if you want to keep the customer, in fact the opposite - they sooner you get them off the books the better for you.
 
Would be excellent PR for Bank of Ireland to defer their increased current account charges seeing as they are due to commence in the middle of a nationwide lockdown.

Well deposits by Irish households in Irish banks have shot up this year.

Most people will not struggle to pay these charges.
 
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