Tuesday 25 November 2014

Case Study

Brian Byrne

Published 06/05/2014 | 02:30

A LONG-time AIB customer spent 22 years with the bank before switching to Permanent TSB.

Keith Walsh from Co Cork set up a current account with AIB when he was just a teenager. He cited rising banking fees for his decision to switch over to Permanent TSB.

Mr Walsh said he grew tired of paying fees of up to €138 a year.

The 39-year-old said: "I switched because I felt that €138 was better in my pocket than it was in theirs. It's as simple as that really."

Mr Walsh avails of a free current account with Permanent TSB because he lodges at least €1,500 into his account every month, as per the bank's terms and conditions.

The result is that customers do not have to pay out the quarterly banking fees payable to most other major banks.

Mr Walsh's partner Emma Foley (30) made the switch to Permanent TSB some 12 years ago, but Mr Walsh (left, with Ms Foley) said that this did not influence his decision to switch.

The health and safety manager at the Mardyke Arena at University College Cork described the switch as "easy" and said it was "a bit mad" that just one in 10 people had made the move to avail of cheaper banking.

Mr Walsh appeared disappointed that AIB didn't do more to encourage him to stay. "I was with them 22 years and I didn't even get a letter to say, 'look, come in and we'll see if we can do anything different'," he said.

Irish Independent

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