fees & charges
Guide to Fees and Standard Charges
Introduction
At ACCBank our aim is to provide customer value through efficient and effective banking solutions that meet your needs. It is our policy to provide you with all of the information you need to understand exactly how your bank service works.
This guide details how our standard charges are calculated and how these charges may affect you. It also contains details on how you can minimise these fees and charges.
If you would like more information on any of the fees and charges detailed on this page please contact our Customer Service Centre on LoCall* 1850 272 222.
Current Account Fees And Charges
Transaction fees
These fees cover transactions on your current account, such as withdrawals and lodgements and processing cheques.
Account maintenance fee
This quarterly fee is charged for services such as provision of statements, maintenance of account records and handling of routine account queries.
Government duties
There are certain government charges which the bank is obliged by law to collect from you, for example duty on cheques.
Additional service charges
These charges cover services you may require on an occasional basis and are applied whenever the event or service requested occurs, for example searches for cheques or stop cheque requests.
Notification Of Fees And Charges
Transaction and account maintenance fees
Transaction and maintenance fees are charged to your current account on a quarterly basis (end of March, June, September and December) and cover the previous three months. We will notify you of your quarterly fees at least 10 working days before your account is debited.
Additional service charges
Additional service charges are applied whenever a specific event or service is requested or occurs, for example a "stop cheque" request.
Government duties
Under current legislation the bank is obliged to collect certain duties from you on behalf of the government. These charges are automatically debited from your account and are detailed below.
Fees and charges increase
We will provide you with the required prior notice of any increases in our fees and charges or if a new fee or charge is introduced (other than government duties) by placing a notice in the national press. Where changes are accumulate and applied periodically to accounts we will advise you at least 10 working days before the deduction of the charges. A breakdown of any charges will be provided.
Interest Charges On Current Accounts
Debit interest and surcharge interest is calculated on a daily basis and is charged to your account on a quarterly basis.
Debit interest
This is interest that you pay for the period that your account is overdrawn. This includes the period when your approved overdraft is used. The prevailing rate of debit interest for current accounts is available from your local ACCBank or by calling our Customer Service Centre on LoCall* 1850 272 222.
Surcharge interest
Surcharge interest at 0.5% per month (6% per annum APR 6.14%) will only apply when your account is overdrawn without an agreed overdraft limit being in place, or where an overdraft limit is exceeded or has expired without agreement of the bank to renew it. Surcharge interest is in addition to overdraft interest and is charged on the portion of the debit balance that exceeds the agreed overdraft limit.
When is interest charged?
You will be notified/provided with details of any debit interest or surcharge interest being applied to your account, together with quarterly transaction charges at least 10 working days before your account is debited.
| Quarterly maintenance fee | €3.81 |
| Lodgements | €0.28 |
| Withdrawals | €0.28 |
| Transfers to/from other ACCBank accounts held by customer | Nil |
| Standing Orders | |
|---|---|
| Setting Up | Nil |
| Transactions | €0.38 |
| Changes | Nil |
| Direct Debits | |
| Setting Up | €2.54 |
| Transactions | €0.19 |
| Referred Charges | |
| Cheque lodged to your account and returned unpaid | €3.81 |
| Cheque, direct debit or standing order presented which if paid would place your account in an unauthorised position | €4.44 |
| Cheque, direct debit or standing order presented on your account and unpaid | €6.35 |
| Business Accounts | |
| Notes per €100 | €0.45 |
| Coins per €100 | €2.00 |
| Other services | Charged at cost |
| Cheque Books | |
| Cheque books (50 cheques) | €25.00 |
| Cheques | |
| “Stop Cheque” request | €3.81 |
| Special presentation of cheque | €3.81 |
| Searches for cheques in archives | €15.24 each |
| Copies of cheques not in archives | €0.63 each |
| Miscellaneous | |
| Bank Drafts | Nil |
| Regular Statements | Nil |
| Duplicate & specially requested statements | Nil |
| Certificate of Interest | Nil |
| Status Enquiries | €6.35 |
| Electronic Funds Transfer | €0.10 |
| Credit Transfers (Swift) | All Currencies |
| All currencies within Ireland/ within EU Member States/ outside EU Member States | €25.39 |
Other Account Fees
Various fees and charges apply specifically to certain accounts and services. The following charges apply to a range of the fees and charges which are available from ACCBank.
| Business Banking | |
|---|---|
| Commercial Mortgages | Negotiable handling charge |
| Guarantee Facilities | Negotiable fee Between 0 – 2.00% |
| Performance Bonds Facilities | Negotiable fee Between 0 – 3.00% |
| Surcharge | |
| Where a repayment is not made to a loan account on the due date, an interest surcharge will apply to the amount in arrears. The rate of interest applicable is as follows: | |
| Personal Fixed Rate Loans | 1.5% per month |
| All other Loans | 0.5% per month |
| Security Fees For Secured Borrowings | |
| Charges to discharge, release or vacate a security | €44.44 |
| Processing the re-assignment of a policy | €44.44 |
| Release title deeds on accountable trust receipt | Min €25.39 Max €63.49 |
| Searches and enquires into archives | Min €25.39 Max €63.49 |
| Foreign Currency Charges | |
| Foreign currency spread | 7% |
| For fees and charges which are negotiable, you should contact your local ACCBank to speak with your Relationship Manager to discuss your financial arrangements further. | |
How To Minimise Fees & Charges
There are many ways in which you can keep your fees and charges to a minimum.
Use Electronic Business Banking
The Electronic Business Banking (EBB) facility is open to business customers. This will allow you on-line access to your current account so that you can reconcile and manage your account to reduce significant referral charges and surcharge interest. For more information please contact your local ACCBank.
Use Paypath
If you regularly pay your employees by cheque the option of the “Paypath” Facility may be of benefit. This is an electronic service which transfers wages to designated ACCBank and non-ACCBank current accounts. For more information please contact your local ACCBank.
Check your cheques
When you write a cheque make sure that all of the details are completed correctly, and that there are sufficient cleared funds in your account to avoid any potential unpaid cheque charges.
Keep good records
It is important that you retain all statements and other documents relating to your accounts safely so that you are not charged for duplicate copies. It is important to retain your cheque books in a secure place so there is no requirement to request stops to be placed on cheques should you be unable to locate the cheque book.
Plan ahead
If you don’t have an overdraft facility, make sure you maintain a credit balance on your account. If you do have an overdraft and you know it is likely to exceed your limit, then apply for an increase in your existing overdraft facility in advance. If the bank agrees to the increase you will avoid unnecessary referral charges and surcharge interest.
Details of our locations are available here.
The charges detailed above are correct as at October 2009.
*The cost of calls to our LoCall number may vary when using a mobile or certain landlines.
