Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

aib direct debit from demand deposit?

Options
  • 20-09-2010 10:44am
    #1
    freida
    Registered Users Posts: 248 ✭✭


    Does anyone know if you can get a direct debit on a demand deposit account like this one http://www.aib.ie/personal/savings/Demand-Deposit I have a high interest current a/c (yeah right) with aib that is a feeder for the mortgage. I am paying quartely fees of 7 or 8 euro. its supposed to be 4.50 btw. i am sick of paying this extra money just to pay my mortgage. This one seems to be free. It has to be with aib afaik since that is where we have the mortgage. it should be free, but I don't have a debit card (not paying an extra 40€ for that when i already have one) or do internet transactions which would qualify me, thanks, f


Comments

  • Options
    #2
    Rochester
    Registered Users Posts: 478 ✭✭Rochester


    It is not possible to have a direct debit on a savings account unfortunately.


  • Options
    #3
    jor el
    Closed Accounts Posts: 16,713 ✭✭✭✭jor el


    You should be able to set up the direct debit from a current account in another bank, if you have one. PTSB and Ulster Bank do fee free banking, so if you don't have another current account, see about setting up one in one of these banks.


  • Options
    #4
    freida
    Registered Users Posts: 248 ✭✭freida


    Rochester wrote: »
    It is not possible to have a direct debit on a savings account unfortunately.
    pity, that is exactly what I want, so I don't have to pay quartely charges :(


    jor el - I have another a/c that I use all the time free with nib, (thats why I don't want to pay for another debit card which is necessary for the free banking) but afaik the bank insisted on having an aib one set up as the feeder for the mortgage

    f


  • Options
    #5
    jor el
    Closed Accounts Posts: 16,713 ✭✭✭✭jor el


    freida wrote: »
    but afaik the bank insisted on having an aib one set up as the feeder for the mortgage

    Not sure they can actually do this. Can you change the DD to your NIB account, and see what happens? Cancel the AIB one so as you don't make two payments. As long as the mortgage is paid on time, it should be OK. Maybe make the NIB DD a couple of days before the AIB one, to account for any delays in the transfer.


  • Options
    #6
    freida
    Registered Users Posts: 248 ✭✭freida


    okay thanks might try that :), f.


  • Advertisement
  • Options
    #7
    chris85
    Registered Users Posts: 4,502 ✭✭✭chris85


    jor el wrote: »
    Not sure they can actually do this. Can you change the DD to your NIB account, and see what happens? Cancel the AIB one so as you don't make two payments. As long as the mortgage is paid on time, it should be OK. Maybe make the NIB DD a couple of days before the AIB one, to account for any delays in the transfer.

    You cant just change a DD to a savings account. A DD is where the receiving bank is requesting the money so they have an account they will seek money from, obviously if the receiver is not aware you want it coming from a different bank then they wont be requesting the money from the other account.

    Also if you gave the receiving bank the NIB deposit account or savings account and they seek a payment from it via DD then NIB will refuse the payments.

    A DD is for paying bills and so forth and thus you need a current account. A savings account is there to promote saving so DD dont facilitate this.


  • Options
    #8
    jor el
    Closed Accounts Posts: 16,713 ✭✭✭✭jor el


    chris85 wrote: »
    You cant just change a DD to a savings account.

    I'm assuming the account with NIB is a current account, as the OP knows he can't use a savings account. Obviously to change the direct debit, it will have to be done by notifying AIB, as otherwise you have no way to do it. The problem will be if AIB refuse to accept this change, and I'm not sure if they can actually force you to use an account in their bank.


Advertisement