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Bank Of Ireland Current Account Fees + Default setting Rip-Off


Monday Monday

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Feb 9, 2009
Messages
1,339
This thread is more about "personal finances" than economy but please indulge me a little.

Consumer body criticises removal of free banking - The Irish Times - Tue, Sep 25, 2012

A spokeswoman for Bank of Ireland defended its decision not to issue news releases to the media about the bank charge changes or the mortgage interest rate increase and claimed that improvements to its online operation and the creation of banking apps for smartphones were costly and would have to be paid for by end users.
I have linked back to criticism that one of Ireland's two vampire squids received when it quietly brought in the gouging of it's customers. I am one of the customers of this economic parasite as well as keeping it alive with my taxes (not to mention the future taxes of my children).

I received my first bank account charge notification yesterday and was very shocked at both the unit charge amounts (€0.28 per transaction) but also, and here's the rub, the account defaults to the "pay by transaction" instead of the €11.40 for 90 transactions bundle which you can choose. We have a busy household account with two VISA cards and all the direct debits + direct credits set up on it. It is fairly easy to rack up more than 90 transactions in a three month period.

I just wanted to warn my fellow p.iers that this might be coming down the tracks for them. There was absolutely no postal notification sent to me by the Bank, nothing on their on-line portal except through a labyrinthine trawl through links and, as outlined above, the media campaign was non-existent. Caveat emptor. You can ring Banking365 and they can set your fee structure going forward but unfortunately they cannot retrospectively apply it to your account and, regretfully, have to pocket the money they gouge from you.

I asked the CSR in Banking365 if they have a customer complaints procedure and she informed me that they did. Then there was silence and I had to ask, "well what IS the procedure because I want to make a customer complaint." Then I was politely informed that I could make my complaint to her verbally and she assured me she would pass it on but I would never hear from them again as it was bank policy never to reply to customer complaints.

In fairness to her she was genuinely embarrassed to tell me of this.

So I intend to make the ultimate customer complaint and take my business elsewhere and I urge all Irish people to start treating their bank like they treat their car insurance broker.
 

southwestkerry

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Aug 20, 2008
Messages
4,230
3 words
allied irish bank
 

Morgellons

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Mar 24, 2012
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Although I can understand your frustration about the default charges, I'm faintly surprised that you're surprised that the bank is trying to take your money-that's what banks do afterall. I'm with AIB and am waiting to see what their charges are going to be. Ulster Bank still offer free banking. They wanted to introduce charges last year but with the IT **** up they decided to hold off for another while.
 

Morgellons

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Mar 24, 2012
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3 words
allied irish bank
Don't follow kerryman. AIB have charges in place too. 13 cent a transaction I think, unless your account has a constant balance exceeding 2500 euro, for which you receive no interest but do get 'free' banking.
 

Monday Monday

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Messages
1,339
While the charges themselves are disgusting that's another matter I am more upset at the "sharp practice" of concealing the options available to minimise the charges I have to pay.

As for AIB, don't get me started. I said BOI is one of Ireland's two vampire squids. Who do you think the other one is.

I have decided that the Irish way of doing things doesn't work any more. It's why our country is such a kip. Take the crap without a word and then moan to your mates afterwards.

From now on I am going to

1. Complain directly to the source of the rip off and inform them I am taking my custom elsewhere.
2. Move my business to a competitor
3. Let everyone I know hear about the poor service I got at company A.

Compare The Best Current Accounts in Ireland on bonkers.ie
 

southwestkerry

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Aug 20, 2008
Messages
4,230
Don't follow kerryman. AIB have charges in place too. 13 cent a transaction I think, unless your account has a constant balance exceeding 2500 euro, for which you receive no interest but do get 'free' banking.
I was taking the Mikael out off AIB... they are just as bad.
swk
 

Morgellons

Well-known member
Joined
Mar 24, 2012
Messages
5,056
While the charges themselves are disgusting that's another matter I am more upset at the "sharp practice" of concealing the options available to minimise the charges I have to pay.

As for AIB, don't get me started. I said BOI is one of Ireland's two vampire squids. Who do you think the other one is.

I have decided that the Irish way of doing things doesn't work any more. It's why our country is such a kip. Take the crap without a word and then moan to your mates afterwards.

From now on I am going to

1. Complain directly to the source of the rip off and inform them I am taking my custom elsewhere.
2. Move my business to a competitor
3. Let everyone I know hear about the poor service I got at company A.

Compare The Best Current Accounts in Ireland on bonkers.ie
Good site that-thanks. I think I'll change to Ulster Bank because they're free. I do like the AIB online banking website though-very clear and easy to follow. I'm sure Ulster Bank offer online banking too though.
 

Morgellons

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Joined
Mar 24, 2012
Messages
5,056
I was taking the Mikael out off AIB... they are just as bad.
swk
Ah, flew right over my head that one. Ulster Bank don't charge-for now that is anyway. might switch to them.
 

Ronanr

Active member
Joined
May 19, 2004
Messages
193
Bank of Ireland now say they will charge for just having an overdraft facility on my bank account.

30 Euros a year even if I am never overdrawn in that time!

Definitely think I will move.
 
Joined
Aug 6, 2007
Messages
22,911
Everybody cancelling their Direct Debits and telling the respective companies that will pay bills across the counter because of bank fees will start to send a message to many companies where DD transactions are hugely important.

Not unsurprisingly their response to banks can change things quickly such as excluding DDs from number of transactions as impacts cash flow and also impacts service when everybody paying cash into clear a bill.
 

Morgellons

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Mar 24, 2012
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And then there's the government taking 30 euros for each card you have. Anyone know what the 5 euro stamp duty was for last month?
 

amsterdemmetje

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Joined
Sep 14, 2011
Messages
16,717
Bank of Ireland now say they will charge for just having an overdraft facility on my bank account.

30 Euros a year even if I am never overdrawn in that time!

Definitely think I will move.
Ya see, thats the Irish problem right there, thats why these parasites have us where the want us.Just do it already:cool:
 
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