Moving Money

zervi2003

Has anyone ever had a savings account with one bank, and wanted to move the entire savings to another bank/savings account (i.e Rabo).

Is it safe to do an electronic money transfer? has anyone ever done it?

Do you need to go to the bank? Or can it be done over the phone?

BuffyBot

Yes, it is safe. I'm not sure what potential problems you would encounter, to be honest. If you're registered for internet banking, the transaction should be secure. If you have telephone banking, they should be able to do the transfer over the telephone for you

zervi2003

Thanks for the reply.

I rang my own bank, AIB there, and they told me that I would need an "encoded docket" from Rabo to transfer money electronically.

After she realised that I was moving savings, she became so rude and didnt even explain to me what that was.

She said either that or a bank draft. Ive emailed Rabo now to see what all that means.

mirwillbeback

Hi mate,

I work in payments for Ulster so this should be the " gospel "

Go to your AIB Branch and ask them to make the transfer to you. You will need the Rabo Bank details, i.e sort code and account number, as without these details charge can be up 44.44 euro, with it a max of 3.81.

All you need from Rabobank is there details, nothing else. The reason you go to the branch is its the easiest way for sigs to be identified right away ( prevents the bank calling you back etc ).

Good luck.

BuffyBot

I would need an "encoded docket" from Rabo to transfer money electronically.

An encoded docket is like the slips you see on the bottom of bills etc. I wouldn't worry about it. Just get them to sign you up for telephone/internet banking and do it via that.

Idleater

BuffyBot wrote:

An encoded docket is like the slips you see on the bottom of bills etc. I wouldn't worry about it. Just get them to sign you up for telephone/internet banking and do it via that.

... provided that the amount you want to transfer is €5000 or less.
Otherwise you have to do it over multiple days.

This is the daily (online banking) limit and when I rang to see if they would do a once off they said no :mad: Muppets!

L.

Consultant

Simply go to the bank (branch) where your savings account is. Ask them to transfer your money to your another account in other bank (show them the details of your new account - bank name, account number, bank code etc.).