Is now the right time to buy back into the Irish banks?
down to 0.29 today
As posted yesterday …
Aye - thank you - saw that and it reminded me to update the “Chart That Shows How Fucked Irish Banks Are… Still!” thread.
And BoI is supposed to be the least zombified “pillar” bank!
I don’t usually pop on a tinfoil hat, but the thought did occur to me today that maybe it was the retail banks who asked the central bank to impose mortgage restrictions.
Using the excuse ‘We can’t give you that much money’, is easier than ‘We don’t have the money to give you’.
I don’t think there’s any need for the tinfoil hat here - I’ve been talking to people in the banks over the last few days and it seems that at least one bank asked for these restrictions and that there is a collective sense of relief that they have been imposed. I believe the problem was that they felt that all the banks were getting into involved in an incremental lending war that was leading them back to the old habits and that, if continued, would damage all of them. To me it seemed like a confession from the banks that they still can’t be trusted to assess their own risk and that they would rather that Government set the parameters for them. I suppose another interpretation could be that the banks view lending criteria as a political matter rather than a financial one and know that if they restrict them they will get heat from the Government (who, in most cases, are their main shareholders) and they would prefer that the Government (via the CB) made the rules and took the heat.
I don’t know if the government had much to do with making the rules. I have already heard a couple of rumours (completely anecdotal I know) that Noonan is bulling about it
Flying colours stress test pass …
*BANK OF IRELAND CET1 RATIO IN ECB ADVERSE TEST 9.3% VS 5.5% PASS
*BANK OF IRELAND CET1 RATIO 11.8% IN ECB ASSET REVIEW VS 8% PASS
BoI Hike Current Account Fees Again
25% increase in using an ATM …
I think i’m finally going to move to PTSB.
Got another quarterly fee bill last night - €23.60. My wife would get similar plus we’ve a joint current account too. Thats about €200 in banking fees a year I reckon.
Will be a right pain in the ass and I fear moving only for them to introduce fees. I also don’t fancy more pin codes etc but going to have to bite the bullet eventually.
“Bank Of Ireland see surge in current account fees”
“Bank Of Ireland current account fees are recovering”
No, didn’t think so
PTSB are seriously incompetent but I find as long as you draw them a picture and make sure to follow up (if you ever leave the branch with them promising to do something they simply won’t) you’re ok
I just moved to PTSB in the last few months. Current account transfer was surprisingly painless (only Three mobile caused problems of the direct debits - apparently they just refuse to change direct debits based on bank communications).
On the other hand I applied for a credit card at the same time and I’m still waiting - called them last week and, in spite of having my application number, they couldn’t tell me what was going on, or even see that I had made an application. I was promised a callback and haven’t heard anything.
So about as useless as the other banks (in my experience of them, anyway - I’ve only dealt directly with BOI and AIB), but at least I’m not paying fees! (Yet. I’m no paying fees yet…)
Got my fee statement too from BOI recently.
Think it’s time for me to make my move also.
I don’t mean to sound alarmist, but you might want to keep on top of this issue.
I went through a similar thing (different bank) and it turned out they sent the credit card to an old rental address that I had long since changed at the bank but one dept did not talk to another.
The residents at that address had a great time with my credit card, withdrawing thousands both here and in their home country. Living life to the full !
Did you have any redress - assume the Bank took full responsibility?
Yep the bank admitted full responsibility and paid me a nominal bit of compensation for exposing me to the risk of identity theft.
I applied for the card via my online account and they sent a pre-completed(!) CC form for signature to the old rental address prior to separately sending the CC and the pin to the same address.
I expect that all my personal details can be had for a few cent on some boards!
Something similar happened to me with PTSB. I moved house and provided them with the new details. All seemed ok until they sent communication to the old address (I had mail forwarding in place). I brought the letter to PTSB and their reaction was really cool. Your correct address is on the system so don’t worry, this must have been some sort of mistake. They showed me my new address on screen just to prove that all was ok.
They couldn’t provide any explanation and under repeated questioning said they would pass it onto their IT people.
I heard nothing and it hastened my departure from an amateur bank.
As to AIB, don’t get me started on them.
Thanks for the heads up. Shouldn’t be a problem, as I don’t think there’s any way they’d have an address other than my current address or my parents’ house, but I’ll keep hounding them all the same.
Annoyingly, they (like Bank of Ireland) no longer seem to allow you to call their branches directly. So you get through to the call centre and they say “oh, you need to talk to the branch” - “I know - that’s why I called the number that’s listed for the branch!”, “Hold please… Nobody’s picking up at the branch, can I get them to call you back?”.
Anyway, at least I’m not paying fees…
I had BoI dip into my AIB current account for a payment on a credit card that had been closed over a year previously!
I’ve tried them all and ended up at BOI as the only vaguely competent one. I minimize my costs by using an online account from Rabo. All payments are made to that account. I buy everything I can by credit card and pay bills online using that rather than using Direct debits (I still have a few DDs as they seem to be impossible to avoid). I pay the credit card from the Rabo account. They allow you to set a payment date so I set that up as soon as the bill comes in so I don’t forget. I try to take cash out of the ATM as little as possible. I aim for four times a month but don’t always make it. My fees for the last year were around 10/11 per quarter. Still more than I’d like to pay but the only free service is PTSB and they are utterly shambolic - I found they were particularly slow at processing online payments - they always took at least 2 days and on one occassion 5.