Switching banks - Which one and why?

I am considering switching to Halifax for my personal banking,

  1. I don’t believe they are as exposed to the Irish Property Market as others are but I don’t know how they are fixed Uk wise and international in this time of the big liquidity crisis.

  2. They “SEEM” to be offering relatively good deals, comparable witht the best Irish Banks, but as I said in point one I think I might want to avoid Irish banks for the next few years.

SIDE NOTE: Talking to the REP they informed me that if you a Bank OF Ireland customer and use internet banking you are charged, but if you call into your branch and ask not to be charged for the service anymore your wish shall be granted! :open_mouth: Is this true??? Has any one experience of this?

People, you have the floor…

You want a current account with them?

I would choose them over BOI definitely:

Visa Debit instead of Laser.
Better online banking. You can set up standing orders online, make payment to any other bank straight away (tried adding a beneficiary with Banking 365 lately? You have to wait for a confirmation code by post before you can make a payment!)
Open on Saturdays.

What else do you need?

I’m not with BOI, I simply put that in for those BOI users out there. Sounds good. Forgot about the Sat opening. Yea Visa Debit, handy for web transactions.

Thanks for the pointers.

Yeah, visa debit is king for the internets. I can’t handle credit :cry:

Some places don’t take them though, like ALDI or LIDL, but I guess that will only improve.

Ulster Bank man myself. I believe they’ve the highest rating of any bank in Ireland (that’s readily accessible). Was back in Dublin last week and cleared out my EBS a/c. Just in case…

RABO BANK ARE THE highest rated bank in the world.
Also, their banking indemity insurance offeres far more protection than the Irish one, a max of 90% or 20k.
They are 100% up to (if i recall, 25k)

Ulster bank are the highest rated irish deposit bank.

First Active and Ulster bank are part of the RBS group,the third biggest bank in Europe apparently, so you should be fine there.
If not the UK is in dire shit,so RBS would be bailed out by the Treasury in any event following on from the NR debacle.

Ptsb while maybe slightly exposed to the housing market , signed up over 200,000 current account holders on the switcher deal alone according to them.
Most of these have their wages paid directly into the bank,so i’d say they have serious amonts of money coming in every week.
I have some money in Ptsb, <€20,000 mind you and i wouldn’t be too concerned.

NIB are 100% of 40k and interest rates ain’t bad up to 50k, with instant access.

Rabo and NIB, as I understand it, both operate their deposit protection schemes under the auspices of the Irish Central Bank, meaning their deposit protection is the same as for other Irish banks.

While the Dutch Central Bank and the Danish Central Bank deposit schemes are more generous, I don’t believe they apply to Irish customers.

This is second-hand knowledge from a very long AAM thread, so I am hoping to be corrected!

as for BOI.

There service is very good. IMHO

They have always been good to me.
They do not jump on every opportunity to charge you
They are fast and willing to add an emergency overdraft or loan at very short notice.

Best banking experience i’ve had, including my 30 years across the water.

Edit: my spelling sucks

I actually moved my current account away from BOI over this very point. It was a bit of a rash move, but one year on and it appears to be worse if anything - a year ago you could make the first payment of up to 500 over the phone the same day.

Oops, that’s correct about NIB, Irish customers are only protected up to 20k :cry:

I’ve just opened a Halifax account,just one disadvantage I’ve noticed,they are currently using other banks cash machines as they dont have there own yet and you cannot check your balance from these,other than that very good :slight_smile: .

A girl who sits near me in work left for the same reason. For the past 6 months or so AIB have allowed you add beneficiaries online. You can even do International transfers.

To be honest I’d prefer that, with all the keyloggers and trojans going around these days.

On AIB they prompt you for 1 of 100 codes you get on a credit card sized code card. A keylogger is negated by this.

Every online banking should be using a digipass/security token for authentication. If the user has no password, they can’t give it to the wrong person.

Some banks have been using them for years.

That’s a good WUM, i hope !

No idea what WUM is, but the urban dictionary explaination is a shocker