Have current account with AIB but decided to move a small savings deposit out of AIB to BOI for 6 months, kick the investment decision down the road a few months.
Never had a BOI account before.
Wanted a joint account with the wife and could see that I could set that up online with BOI. Got an e-mail saying they received request and identification via online portal, grand.
But of course then the antiquated administration kicks in:
- I realise they won't give me online access to see the money safely on deposit in an account in my name because I have no current account.
- They only allow a single debit transfer that you advise them to draw the funds from
- They don't seem to know if they'll be sending me anything more than a text to give me my new account number. Will I get a statement or a welcome letter or anything like that? Their phone team don't know, call back and they'll send a statement on request?
Not exactly the streamlined process one might expect, it's unlikely my money will be there very long .
It just goes to show you, the inertia of the Irish bank customer, I look no further than myself, repelled from investment products by 1% levies and 41% exit tax, there should be a flight of deposits - but there isn't - and they know it.
Never had a BOI account before.
Wanted a joint account with the wife and could see that I could set that up online with BOI. Got an e-mail saying they received request and identification via online portal, grand.
But of course then the antiquated administration kicks in:
- I realise they won't give me online access to see the money safely on deposit in an account in my name because I have no current account.
- They only allow a single debit transfer that you advise them to draw the funds from
- They don't seem to know if they'll be sending me anything more than a text to give me my new account number. Will I get a statement or a welcome letter or anything like that? Their phone team don't know, call back and they'll send a statement on request?
Not exactly the streamlined process one might expect, it's unlikely my money will be there very long .
It just goes to show you, the inertia of the Irish bank customer, I look no further than myself, repelled from investment products by 1% levies and 41% exit tax, there should be a flight of deposits - but there isn't - and they know it.