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  • 30-06-2011 5:11pm
    #1
    PEACEBROTHER
    Registered Users Posts: 1,149 ✭✭✭


    Hi All,

    Basically i had loan out with BOI and was due to end today with final payment of 40e. My usual monthly payment was 230 .
    So I log into Banking On Line to see that they have taken the full amount ( 230 ) and are now telling me it will take them 5 working days for refund.
    As a result i missed my Credit Union direct debit as there wasnt sufficent funds
    So I have 2 question

    1. Did this ever happen to anyone else ? Will it 5 working days tll i get money back

    2. What happens with credit union now will they attempt direct debit again in a few days or will they take double next week ?

    Thanks


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    #2
    Jet Black
    Registered Users Posts: 3,845 ✭✭✭Jet Black


    1. Did this ever happen to anyone else ? Will it 5 working days tll i get money back
    It will probably be sooner that 5 days, they usually just say this to cover themselves in case of problems. It'll probably be Tuesday or Wednesday.
    2. What happens with credit union now will they attempt direct debit again in a few days or will they take double next week ?

    No. You'll have to request for the payment to be made again if you wish.


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    #3
    dublin daz
    Registered Users Posts: 480 ✭✭dublin daz


    Make sure BoIF compensate you if the account has been charged referral fees.

    Usually they apply a fee when a direct debit fails. If it was their mistake then BOI should refund the fees.


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    #4
    sarahlulu
    Registered Users Posts: 295 ✭✭sarahlulu


    It wasn't a mistake though, the standing order for the loan repayment went out as usual. The fact that it was too much will put your loan into credit, which will show up on a report a day or two later. The credit baance will then be transferred to your current account, and the loan closed off.


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