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Loan Repayments Online?

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  • 03-07-2009 12:24am
    #1
    alan4cult
    Registered Users Posts: 1,583 ✭✭✭


    Hi,

    I'm just wondering whether I can use online banking to make repayments on my loan. My loan is on an interest only basis and can I just transfer money into the loan account to cover the interest or do I need to do it in branch?


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    #2
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,919 Admin ✭✭✭✭✭Toots


    Depends on your bank. I've got a BOI loan and I can transfer money into it no problem. Just wish I had the spare cash to do it more often ;) I'd imagine it's the same for any of the banks, you'll probably have to register it as a beneficiary on your online banking first though.


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    #3
    alan4cult
    Registered Users Posts: 1,583 ✭✭✭alan4cult


    Thanks.

    The loan appears in my Account Summary so I presume I can just treat it like any other account and transfer money between it? I'm with Ulster Bank.


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