Cantillon: BOI’s ‘enhanced banking experience’

If you are a Bank of Ireland customer with money to spare, you might have been invited in recent days to avail of the bank's new "Premier" banking service.

Aimed at filling the gap for those who lack the €1 million or so in investable assets required to qualify for “high net worth status”, but still have money to play around with, BOI’s new advisory service is targeted at people on higher incomes who have a need for “enhanced financial advice”.

The new approach represents an extension of BOI’s existing managed banking approach, and invited customers have been appointed a “Premier Advisor” whom they can contact to discuss their financial needs.

The bank is currently implementing the initiative on a pilot basis at the moment, with “Premier” wealth advisers attached to about half a dozen branches. However, BOI believes there is sufficient demand to roll out the service further; evidently the bank isn’t short of customers who fit the criteria, despite the recession.

According to the bank, the core of Premier Banking is about “offering customers an enhanced banking experience that ensures that they get the most from their banking relationship with us”.

So, mortgages and loans all round then?