Read more here on our Comparison of Bank Charges in Ireland with all the latest account charges compared.
Ulster Bank introduced bank charges on personal current accounts in July 1st 2013 and they now charge a €4 monthly “maintenance charge”. This charge will be waived if customers maintain a balance of more than €3000 over the whole month.
PTSB had a current account that was “fee free” as long as €1500 was lodged to the account each month . Since June 2016 this option is no longer available to new customers. Now PTSB have a new account called “Explore” which has a €4 per month charge but customers can get cashback for certain transactions – which in some cases could be more than the admin fee. More here on the
KBC have a current account which will has a €6 quarterly charge plus other charges if the balance falls below €2000. (ATM 30c; Cheque Lodgement 30c )
Bank of Ireland : Since August 19th 2013 all BOI current account customers are now charged €5 per quarter. (Some exclusions for pensioners and students) . Transaction fees are also charged on top of this €5 maintenance fee – but these can be avoided if €3000 is kept in the account . See here for full details of BOI Charges
AIB : a balance of at least €2500 is required at all times to qualify for free banking at AIB. If you don’t qualify for free banking with AIB – you will be charged €4.50 a quarter (admin) plus charges for most transactions:
One possible way to avoid some bank charges (and maybe reduce problems when banking systems fail) – would be to get a prepaid debit card .
It might also be a good idea to keep one of these prepaid cards on stand-by loaded with a couple of hundred Euro for emergencies. It will cost €10 a year though – but it should be safer than money under a mattress? It could come in handy if your bank has problems .
Another option to cut down on bank charges is to use your credit card for shopping (if you have one). The possible danger with this is that you can easily be tempted to spend more money than you have – and end up in debt.
In the UK- bank transaction charges are rare. Unlike it’s Irish current account customers – Bank of Ireland’s current account customers in the UK have fee free banking without any extra conditions – as long as they stay in credit!