Some Are Sicker Than Others

at

This afternoon.

Sinn Féin TD Pearse Doherty has called AIB’s move to charge customers quarterly fees today “disgraceful”.

The fees don’t apply to AIB members who have more than €2,500 in their accounts.

He released the following statement about the bank, in which the State has a 71 per cent share… 

“Today, tens of thousands of workers who have lost their jobs and income as a result of the COVID-19 outbreak will receive their first COVID-19 Pandemic Unemployment Payment of €350. This payment will be needed for workers to pay their bills and feed their families.

“It is disgraceful to learn that AIB, instead of providing relief to these customers, have on the same day decided to charge quarterly fees to many of these customers who have just lost their jobs.

These fees do not apply to customers with more than €2,500 in their accounts, but if you have just lost your job as a result of this outbreak they do. That AIB are charging workers and families who have lost their jobs and have little in their accounts these fees is a disgrace.

I have been in contact with constituents who have lost their jobs and were relying on today’s payment of €350 to get them and their families through the week. This morning they were hit with quarterly fees by AIB of up to €100.

“The COVID-19 Unemployment Payment was not intended for the banks, and this pandemic should not be an opportunity for banks to squeeze more out of their customers.

“On March 18th the Government and Banking and Payments Federation announced a suite of measures adopted by the five commercial banks to provide relief to customers.

“We know that this has involved the banks charging customers additional interest of as much as €2,000 for applying for mortgage breaks. To find out that they are still charging quarterly fees of up to €100 to customers who have just lost their jobs is further proof that banking culture has not changed.

“The State is the major shareholder in AIB. It is time for the Government and Central Bank to challenge the actions of the banks and put the interests of citizens first.”

Anyone?

AIB charging of quarterly fees on day customers receive COVID-19 unemployment payment a disgrace – Pearse Doherty TD (Sinn Féin)

Rollingnews

UPDATE:

Meanwhile…

Good times.

25 thoughts on “Some Are Sicker Than Others

  1. edalicious

    “We know that this has involved the banks charging customers additional interest of as much as €2,000 for applying for mortgage breaks”

    I don’t know if I’m reading this wrong but it comes across as a bit misleading. If you take a mortgage break, you’re not taking a break from the interest accruing over that period, you’re just taking a break from having to make any payments for a period. Is he implying that the banks are adding additional interest above what would normally have accrued over that period? If not, using both the words “charging” and “additional” would seem to be inappropriate in the context.

    Not that I don’t disagree with the gist of what he’d saying, just that there’s no need to oversell it.

  2. Cian

    Firstly, I agree and think AIB should waive these fees for a few months until this is sorted.

    But “quarterly fees of up to €100” is bonkers.

    AIB’s fees are €4.50/quarter plus:
    – Automated Transactions €0.20 each (contactless is free)
    – Self–Service Transactions €0.35 each (include ATM)
    – Paper/Staff Assisted Transactions €0.39 each

    In a 90-day quarter you can get 477 automated transactions or 272 self-service or 244 staff transactions for €100!

    For people with no money they sure are using the bank an awful lot!

    1. Jonickal

      Sorry, how dare you interject in to this discussion with sensible thought through arguments. There’s only room for Sinn Féin-led populist thick notions here.

    2. GiggidyGoo

      I have a vague recollection that AIB weren’t giving people with €2500 in their account any more free banking, but that they then waived that change due to the Covin-19 virus.
      As for the €100 – he’s saying they got hit with large fees today (which would have been adding up while they were working) Seems high alright.
      Here’s another report which says someone had a charge of €66 taken from their account. Still high.
      https://www.dublinlive.ie/news/dublin-news/coronavirus-ireland-outrage-aib-charges-18015300

    3. Darren

      Is it right though that the banks would enforce charges for its services where customers / people are holding less than 2500 in their account? Because it seems like if that is what is the issue there should be none. Maybe if there is less profit made on small figure accounts there might be a greater incentive for banks to align wit all other state services to increase the wealth in their customers pockets. I think while SF are a political party and cian was decent enough to do the missing maths the issue of enforcing these sorts of charges is rightly being publicised to those who may not miss such amounts from their own balance.

  3. Frank

    theres zero defense of this. if you’re defending it you’re either on the payroll of AIB, you’re a FFG shillbot or you’re an idiot.
    the bailout banks were given 35 year tax free on profits in the bank guarantee . now they want to impose punitive penalties on the tax payers that gave them a sweetheart 35 THIRTY FIVE YEAR tax free deal.
    that is disgusting, deplorable, inappropriate and opportunistic.
    sinn Fein and pearse Doherty is quite right. stand up and say NO.

  4. Emily Dickinson

    Wrong target. At least the banks are providing a service.

    The insurance companies, on the other hand, have collected roughly €100m this month in fees for private health coverage that – properly – no longer exists.

    Many of those who have lost their jobs will feel trapped into continuing to pay hundreds every month (for nothing) becuase, under government rules, anyone who drops out of the system, even for a short time, will face a lifetime financial penalty when things return to normal.

    I’m surprised the issue isn’t getting more attention.

    1. GiggidyGoo

      Spot on. And it was Varadkar who introduced that penalty by the way. People that were made redundant had to give up the health insurance, and when they got re employed, they found that they were hit with a levy because they had lapsed.

  5. :-Joe

    Idk.. Do you think maybe using previously known corrupt commercial banks is not the best way to go…?
    -Just change banks and close your aib accounts for good.

    Every single euro you choose to spend has the same power, often even more than a vote at the ballot box… Be more consciously aware of who and what it is exactly that you choose to support or encourage to grow and profit from your investment in their success.

    :-J

  6. SB

    I did some shopping in Dunnes yesterday and they had the cheek to charge me for it!!! During this crisis!!!

    Where do you stop with this? No bills for anyone? I knew there was a “free everything” brigade, but why single out banks? I dislike paying my bank charges but I’m aware I’m liable for them, so I’ve moved most of my transactions to Revolut to avoid the per-transaction fee, and am considering fully moving account after 35 years, but I don’t get why they should just WAIVE charges.

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