So who can I bank with now?

There exists in Ireland a particulary nasty cartel of bad bank service. Ten years ago, it was posible to go into any bank branch and:

- Lodge cheques to any other bank account (not just the bank you happen to be in)

- Lodge Foreign cheques

- Pay Bills

- Lodge credit transfers and giros.

These services have now, over time, been withdrawn. Unfortunately, there seems to be no one to complain to. The local branch are just following head office instuctions, and the directors are just figure heads.

All the banks are doing this so there is no other bank to switch to.

Has anyone else noticed this?

I can do all of the above with PTSB.

Which branch <blank>?

I'm with the Tallaght branch of the PTSB. As of 12 July 2004, you can no longer Pay bills or make credit transfers at the counter.

Internet Banking isn't available to business customers, so if you're a business customer your pretty screwed.

> Which branch <blank>?

My account is with Henry Street and I've transacted business in Baggot Street and other branches in the past.

> I'm with the Tallaght branch of the PTSB. As of 12 July 2004, you can no longer Pay bills or make credit transfers at the counter.

OK - maybe their rules have changed so and I was not aware.

> Internet Banking isn't available to business customers, so if you're a business customer your pretty screwed.

I see. I actually use that for most things these days. Is phone banking not even provided for business customers?

I guess you could complain to IFSRA but I'm not sure what good it would do...

Let's hope that Mary Harney's attempts to bring in UK financial institutions will add some real competition in all aspects of the financial sector.

If many or all banks have deemed such services unviable/unprofitable then competition may have no bearing on them being reintroduced...

On what basis does Harney deem more competition necessary in banking and what can be done by simply educating punters to shop around? For example, for personal banking NIB offer transaction free accounts so, in theory we should all be with them but we are not due to inertia and other tangible and intangible benefits of taking our business elsewhere...

Bank of Scotland

AFAIK the Bank of Scotland here are the only bank here to offer free banking to business customers.

Can't even lodge money to my OWN account.

I went in to National Irish Bank in Stillorgan last week to pay my monthly credit card bill. (NIB Card). I had a selection of cheques all payable to me that I was lodging in to my account. The cashier looked bewildered and passed my lodgment to various other people working behind the counter who all had a discussion about the lodgment much to my embarassment and annoyance.
I was then asked "Had I an account with them". I pointed to my NIB credit card account and said that that was my NIB account. "No. I mean do I have a current account" with them. I asked "Why are you asking". It's just that we "prefer" that you lodge these cheques in to your current account and then withdraw money from your account to pay your bill or as it says on the back of your form to make your cheques payable to NIB"
Later while looking at the back of the form it said that if "posting" my payment to NIB I should make the cheque payable to NIB, it said nothing about lodging cheques or even third party cheques when at the branch.

It appears that a lot of "yellow pack" staff are being employed by banks, with little training. They appear to train as they go often "bluffing" at the counter. You need to be able to see through the bluff and question new practices that are introduced. Incidentally I have been lodging to this account in similar fashion for over 15 years now. When I pointed this out to the more senior yellow pack she said "I guess they were not following procedures". 15 years of not following procedures, now there's a thing.

Money Laundering

Isle of Man, NIB's current thinking is correct. Money Laundering provisions would (and should) prevent lodging cheques from third parties direct to your credit card.

What is a suspicious transaction.

Under the anti money laundering legislation banks are required to report "suspicious transactions, inconsistent with the customers normal behaviour" and they are also required to "Know your customer".

Somehow paying €600 Euro in the form of 3rd party cheques drawn on a government body in to my credit card account could not be classed as a suspicious transaction. And as to "knowing your customer". 15 years of doing business with them should cover that end of things.

Incidentally what would happen if a person paying a bill by post to NIB followed NIB's recommendations and made the cheque payable to NIB. If this cheque was then stolen in the post, it could be used to avail of any service offered by NIB. Whereas if the cheque is made payable to the account holder and crossed it limits the risk I would have thought.

Re: What is a suspicious transaction.

The whole money laundering thing really annoys me. It gives the banks an excuse to treat their 'customers' like they are criminals or somthing.

What percentage of people are really trying to launder money?

Re: What is a suspicious transaction.

The whole money laundering thing really annoys me. It gives the banks an excuse to treat their 'customers' like they are criminals or somthing.

Surely not having this in place would allow those few people who do money launder to get away with it more easily?

.

Piggy, the point I'm trying to make is that because of a very small percentage of people, these draconian rules are in place. It there no better way of dealing with it than to treat all your 'customers' like they are criminals?

I understand why the current system is in place. Did you think I didn't understand this?

Re: What is a suspicious transaction.

I don't think any part of my answer...

"Surely not having this in place would allow those few people who do money launder to get away with it more easily?"

...inferred that you did not understand why it was in place. Or at least that wasn't what I meant to come across.

Can you think of a better way of dealing with it? I'm not being smart...a genuine query. Personally, I wouldn't have much of a problem with it. If you're not doing anything illegal then you have nothing to worry about. Surely financial scrutiny of everyone's banking can only be a good thing? Perhaps there are cases I haven't thought of where this may not always be the case...

.

Can you think of a better way of dealing with it? I'm not being smart...a genuine query

Click to expand...

Err, that was my original post. Are you trying to wind me up here?

There are far too many negatives in the current system. I 'm not doing anything illegal, but not being able to open accounts or lodge cheques etc without mountains of red tape is rather annoying.

I am not suggesting that we shouldn't have... blah blah... I couldn't be bothered......

Re: .

that was my original post. Are you trying to wind me up here?
No. I'm not.
You're original post referred to bad service in the banks...something I'm not arguing.

There are far too many negatives in the current system. I 'm not doing anything illegal, but not being able to open accounts or lodge cheques etc without mountains of red tape is rather annoying.
Fair enough. I'd whole-heartedly agree with you there. I've had nothing but grief with banks over anything from getting a bank statement to getting a new credit card issued without about 17 people having to write letters to each other and post to 165 different departments. Excuse the sarcasm.

I am not suggesting that we shouldn't have... blah blah... I couldn't be bothered......

I think you're getting the wrong end of the stick here. I'm not for a minute suggesting that the way banks operate shouldn't be changed/streamlined...just in relation to money laundering I'm not sure I see how or why it should be changed?

Can't see the woods for the trees.

Apparently NIB will not even allow a cheque drawn on my wife's bank account and payable to NIB'S credit card services to be lodged in to clear my credit card balance of €600.
I mean we are talking hundreds of Euro here per month not massive amounts of money. I even showed them the transactions on my account which were made up of Tesco, ESB, Bord Gais, local pharmacy etc

I mean what is going on here?

Re: Can't see the woods for the trees.

I suspect it would have something to do with their liability if the 3rd party cheque bounced.
You lodge a 3rd party cheque to your current account and it bounces, they withdraw the funds from your current account and hold you liable for all the misfortune (unpaid cheque charge, referral fees if it pushes you into unauthorised overdraft etc...)
You pay a credit card bill with a 3rd party cheque and it bounces, how do they hold you liable and for what do they hold you liable? And do you escape the "charges" that would have applied on the credit card if the payment had NOT taken place....
Much easier to just refuse you in the first place...