joint account for household

I am planning to buy a house soon with my GF.

The plan is to split all bills 50 50

I assume the best way is to setup a joint account and use that for everything

The plan is to transfer money in from our personal accounts once a month to cover all and a little over hopefully.

I am with PTSB GF is with BOI.

Any suggestions on the best bank keen to avoid charges?

Any pitfalls?

Suggestions appreciated.

I believe Ulster Bank still have free banking. BoI have free banking if you maintain a daily balance of 3000, AIB are free if you maintain daily balance of 2500. As far as I understand BoI are also free if you make lodgements of 3000 in a quarter and make 9 internet/phone banking transactions in the same quarter, which must be to external accounts, not BoI accounts. A quarter does not correspond to a calender quarter and a quarter may not be the same date every year. This is set out quite clearly on a thread called AIB change conditions for free banking in the Banking Credit Cards forum. (I don't think I can copy the link because I haven't enough posts yet.)

Hi, just to clarify things...

make 9 internet/phone banking transactions in the same quarter, which must be to external accounts, not BoI accounts

Click to expand...

- this is incorrect - BOI accounts are counted... BOI personal account to BOI Visa / BOI Joint account are counted as transactions...

I would recommend you check each banks web site for specific info on the "free banking"...

Sorry if I was misleading - I stand corrected, I was going by information on another thread and didn't look it up myself - it does say on the BoI website 9 outgoing phonebanking/internet transactions and doesn't specify to external accounts at all, see below, quoted from BoI Schedule of Fees and Charges for Personal Customers.

Make at least​

​

​

​

(This is the equivalent of a €1,000 net salary lodgement and
3 payments per month)
(Payments made by Standing Order or Direct Debit do
not qualify as 365 Phone and/or Online payments for the​

purpose of this offer.)

drop into your local branch of each bank. I have a similar setup as you describe in your original post. My local UB gave me a uFirst account and waived the fee as an offer they had to encourage local business. Usually fee was 10e a month I think.

Im with BOI at the moment... current a/c & joint a/c in there... using joint account for same as what you intend ... once I cover the "free banking requirements" each quarter, then it's free...

Thanks lads

I assume a DD doesn't count as an internet transaction.

Some of the conditions seem odd.

I can understand the likes of min amount going in and min balance.

I don't understand the phone or online transactions.

Frank said:

I am planning to buy a house soon with my GF.


Any pitfalls?

Click to expand...

You didn't ask but there are plenty of pitfalls on this issue.