BANK CHARGES & FEES
PTSB, BOI, AIB
EBS, ULSTER BANK, KBC
FREE BANKING IS STILL AVAILABLE
Obviously, nobody likes to pay bank charges, especially on money effectively being given to their bank, such as salary or similiar payments.
For many people, between mortgage payment charges, local property tax deductions, medical and car insurance premium charges, etc., Irish bank charges can match or exceed the new water charge
payments, say (conservatively) reaching € 40 - € 50 per month.
Saving Money By Switching Your Mortgage Provider
The table below gives a comparision of the different bank charges:
Switching Bank Accounts:
Your current bank will provide you with a selection of transfer forms and explanatory booklets (a switching pack) which detail the transfer process to your new bank.
Then pick a date for the transfer, preferably in the second week of the month (if most or all of your deductions and salary payments are made in the first week of the month) . This gives your bank the most time to sort out any problems occuring during the transfer, during the minimum period of activity in your account.
Fill in the associated forms contained within the switching pack (and take the chance to review the payments you are currently making, to see if any of them can be eliminated from your account).
It normally takes between 10 days and two weeks for your new account to be set up and to run properly.
This is a summary of a recent Irish Times newspaper article and is subject to errrors and omissions. Always seek professional advice based on your own particular financial circumstances.