Changing banks

[stano]

I was thinking of changing banks. At the moment I'm with boi. They got me when I was a student and I never bothered to change, but I don't like them, find that they are slow and hate all the endless charges.
I thought I'd move to the ptsb, all that advertising must be working!
Is it easy to change banks? Do I have to contact my work and tell them? The child benifit is paid into my acc, do I have to contact them as well?

Thanks

 

[irishpancake]

Hi Stano

Just as a matter of information, all banks affiliated to the IBF have signed up to an .

Just because PTSB are advertising heavily on this, doesn't make them the best for you. Also, it doesn't make them any worse.

It all depends what you are looking for in a Bank Current Account.

For instance, [broken link removed] is offering a €150 reward, just for switching your account to their current account package. This also has a range of other benefits, including transaction-free banking, etc.

[broken link removed] are offering a current account which pays 4% interest on up to €1500 lodged to the account per month. Also offers limited transaction-free banking.

Other banks, such as [broken link removed], [broken link removed], etc offer other incentives, including transaction-free packages, etc.

You should research the options available, as Banks are anxious to get your custom. In general the smaller players are giving the best deals.

According to the Business Post [broken link removed] will be launching their Current Account options soon, which should give rise to even more competition in this area.

Finally, you should also read the latest [broken link removed] for further information.

 

[Buddyboy]

I would definitely advise changing, if only to avoid the charges you mention.
I have never paid bank charges, simply by always going for a bank that offers transaction free banking. As irishpancake says, most banks will offer this, which may need either a minimum amount retained in the account, or your salary paid directly into it.

Have a look at all the offers and choose the best one for you. There are a lot of savings to be made out there, not least of which is the lack of bank charges.