From top Frances McDonagh (left), Bank of Ireland CEO, and Colin Hunt, AIB CEO, leaving the Department of Finance after a meeting with Minister of Finance Paschal Donohue on Wednesday; AIB’s new fees and charges
This morning.
A series of tough new fees and charges were sent to AIB customers and Bank of Ireland business account holders were informed of a 33% increase in charges for cash lodgements or withdrawals.
SD writes:
Great comedy is all about timing…
Calls for AIB and Bank of Ireland to delay new charges (RTÉ)
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Fuppers.
And business needs them
Without them my business will be screwed and ten staff with no job when this is over
So we’ll all pay with cash for the Big Shop, vectoring away. Or put through €30 worth, then another €30 worth, to the fury of the checkout clerks. I don’t think they’ve thought this through.
After their previous failures I wouldn’t put it past the banks to say 0 when they actually mean 0.01
If they do really mean 0.0 for cashless transactions I expect that’s only temporary.
Gougers.
Enough of the meetings
Empowering these banks to be the intermediaries of Government support to the population is a recipe for disaster. The government needs to engage directly with its citizens. Pass legislation to suspend mortgage payments until further notice. Restaurants are shut down mortgages need to be shut down.The banks will only add layers of bureaucracy and self serving fees and the support will not reach the population. Then their meetings will be more productive as they will be pleading for their survival which they have form at!!
Remove your custom. There are banks offering fee free accounts so the gouging will only happen if you let it.
They let go a load of staff. Introduce new fee’s. especially the sneaky 10 bucks for going over in the red. Plus God only knows what data-profiling they do when you tap your phone.
Wanna jump ship – any suggestions
I hear Mattress Mick only charges a one off fee
No charges in your Credit Union
Just saying
Every few taps you have to put in you pin for the card to be tappable again… this would imply that there is a fee for tapping
I wonder what they do with the info they get on all our purchases, when, where and what… banks should not really have this intrusive amount of information on our lives
A bank is a business and needs to charge for the service it provides.
Historically interest rates were high (say 5%) and the bank used your money and made interest. They only paid 1-2% interest on you current account – effectively they were charging a fee, but you didn’t notice. Now interest rates are around 0 so the bank needs to charge.
The other option is for them to rwduce thwir costs and close bank branches and fire the tellers.. but the same people would complain about that too.
You can always get a fee free Revolut card and use that for your day-to-day banking.