GK writes:
I switched to Permanent TSB a year ago due to their offer of no ‘extra’ bank charges (No quarterly fees or day-to-day transaction fees when you lodge €1,500 a month) etc. After one year of no transaction fees I got charged €45 in one month for Referral Fees. So, I called the bank and they said that because I was in ‘good standing’ they had turned on a ‘Courtesy Facility’ which allows me to go into the red on random occasions ‘to buy your bits and bobs and not get embarrassed at the checkout till’. This ‘Courtesy Facility’ costs €5 each time and can be charged up to three times daily. You have to request that it is turned off.Apparently it is in Ye Olde Terms & Conditions page 20 paragraph 4b. ‘Without prejudice….. etc…’ Be careful out there folks !
Charges are far too steep but I have to admit it saved my embarrassment, and my arse, a few times….
Credit card is cheaper than that
Interesting, any idea how much they’ll let you go into the red for? I wouldn’t like to knowingly try it (in case it didn’t work and I was scarlet at the till) but I’d like to know how much by.
Intresting. A courtesy referral charge, so.
Its standard practice to be charged a fee for going into the red on a current account. In the age of internet banking is GK saying that he/she was blissfully unaware of being overdrawn on 9 occasions? Or did they think they were getting a free overdraft facility? Why?
Ala Ryanair tricks. Thanks for heads up.
I have to say their on-line banking sucks (I came from Danske whose system was designed from ground up to facilitate on-line transactions – it was sweet). The TSB one harks back to the 90’s in terms of user experience – piss poor . 3-way authentication, no option to remember passcodes (a risk, but my risk) meaning have to carry around passwords etc (yup I’m worth mugging!)
Beats carrying around that ridiculous Euro/Punt-esque calculator that AIB force you to use
You can’t remember your 6 digit PIN? Really?
eamonn… this only started happening after 1yr. Previously I would get ‘Insufficient funds’ or ‘Payment declined’. I was blissfully unaware because the bank had turned on this ‘courtesy overdraft facility’ after 1yr without notifying me.
apologies for the confusion.
Same happened to me with AIB.
Left them over it & went to Halifax. Disappointingly they left Ireland.
I’d prefer to be told insufficient funds than charged an overlimit fee.
The “Y” in the phrase “Ye olde” is actually called a thorn and is pronounced “th”
– it’s not actually a thorn, it’s a Y. Typeographers used a Y instead of a thorn ‘cos it was easier than trying to carve the shape of a thorn on the lead blocks. But it’s still a Y, it’s just read as a thorn.
Yeah, it’s splitting hairs, but if splitting a hair lets you say a QI elf was wrong, you get out the scalpel and you split…
I knew that. I was simply making my point as simply as I could.
You were splitting hairs and you missed :P
Charlton HestonMark never misses.A direct debit with BOI failed to go out on my account for deh aul lecky bill due to a lack of funds on that day, two days before pay day.
It cost me €12.70.
My own fault I know, but €12.70 for a bot to bounce back and forth from a couple of accounts….
Easy money …for the banks! I take solace in the fact they make nothing from me tracker :)
What’s far more fun to read is when the funds arrive in the account and go out from the account later that day, but because there’s no rule that says in what order the bank has to tot up transactions during the day, you get hit for missed direct debit/standing order fees even though the money was there to pay for them. And apparently this is a fairly common underhanded practice in the states that we’ve imported to here because reasons.
Thanks Mark…. I’ll be watching for those ones !! :)
So keep your account in credit you fool.
Your account has a balance at the start of the day of €100. At 1700 you’re paid €100 (I dunno, you’re a tax-dodging politician or something). At 1800, your standing order to pay out €101 fires off. At 1900, your account looks fine on the online bank setup with €99 as a balance.
At 0200, the bank tots up the day’s transactions and the next day your standing order has been cancelled and you have €187.50 in your account after the standing order failure charge was levied. Why? ‘Cos the bank runs the transactions as:
Balance – All Debits = TmpBalance (in this case, 100 – 101 = -1 )
Is TmpBalance < 0? If so, Fines! Profit! ( and -1 becomes 100 – 12.50 )
And *now* do TomorrowsBalance = TmpBalance + All Credits ( and 87.50 becomes 187.50 )
All legal and above board and all a total pain in the backside.
I just keep about 1500 in my current account. Its not like it would earn much interest elsewhere.
Poor people are causing all this countries problems.
There’s no decent banks in Ireland who don’t overcharge for standard services. The game is rigged!
They’re all robbin’ c*nts!
“decent banks”?
Turned on a facility that you didn’t request?
Sounds dodge to me. Flupp the terms and conditions.
I got a big mobile phone bill recently, where upon calling the company to question it, I was told to refer to the terms and conditions and is there anything else we can help you with today. Goons.
I told them I wouldn’t be paying it. But it’s your obligation. No it’s not. Reduce it or you’ll be getting nout.
Got it halved in the end.
I’d be inclined to move my money elsewhere with thing sort of carry on.
I’d also fight the charges with them and write to the ombudsman if you don’t get any satisfaction.
Of course you’d think it’s free if you never heard anything about it.
Terms and conditions me arse.
The terms and conditions want your right kidney for using our service, time to pay up. Eh, I don’t think so.
I also switched to TSB last month. Mainly due to their ‘No Fee’s’ advertising and i was with Ulster bank who pissed me off on those occasion theyre systems broke down and my wages didnt go in for days! After 2 weeks with TSB i started noticing these little charges on my statement ‘Debit Charge €1.21, Debit Charge 40c etc.. i called and asked them what these were and they said i get charged every time i purchase anything not in Euros! So if i purhcase something off Amazon in sterling or eBay, even if it goes through PayPal, i still get charged because it was in a different currency!! I find this ridiculous!!! It has made me revert my switch and go back to Ulsterbank. TSB are a joke, dont get me started on the switch over..you get a ‘Switch Buddy’….my 2 year old son would have done a better job than the switch buddy i got!! They say ‘Oh we do everything for you, we take the hard work out of switching’ etc….BALLS!!! I had 3 direct debits to switch..they messed up everyone causing me to miss payments!! They failed to tell me ‘Oh you have to call Sky yourself to switch because they wont take new details from a bank’ and same for others….so what is they bloody point of this ‘Switch Buddy’ i ask!?!? To call you every couple of weeks to say ‘Hows the switch going?’ and then to listen to me complain about all the problems!! …..O.k…..rant over! But please if anyone is swithing to them be warned..you will get bad credit and missed payments and get charged for online shopping which is where they catch ya as everybody shops online like amazon etc. I was plannign on doing most of my christmas shopping online through Amazon and some american sites so i hate to imagine the fees i would get if i stayed with them!! They say the charges can be anything from 40cent to €11!!! They should be done for false advertising too. *deep breath*