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BOI 30 day notice account problem

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  • 24-07-2012 12:46pm
    #1
    duchalla
    Registered Users Posts: 329 ✭✭


    I've a substantial amount of money in a Bank of Ireland ICS 30 day notice account. I rang the branch thats holding the account a couple of weeks ago telling them I want to close the account because of the poor interest rate I was receiving. The lady I was speaking to told me I'd have to give the instruction in writing. So I wrote to the bank instructing them that I wanted to close the account. I made it FAO of the lady I was speaking to and addressed it to the branch. The 30 days notice was up on the 10th August. I said in the letter that my wife will collect the draft on that date.
    Got a phone call from the branch yesterday, (different lady), saying that all their mail is being redirected to Dublin and they didn't recieve my notifaction til friday (8 days after I posted it) and they cant release my funds til the 17th August. The lady I was speaking to was apologetic but said there's nothing they can do. I've made arangements for my money and I need it on the 10th. This doesnt seem right to me, how come my notifaction was sitting in Dublin for a week before it was redirected to the branch? Are things that bad that they need to hang on to my money for an extra week? Why should I have to wait a week because of thier cock up? I rang the branch this morning, they said they'll get someone to ring me back. Anyone have any advice on this? seems a bit underhand to me.


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    #2
    whomitconcerns
    Registered Users Posts: 4,358 ✭✭✭whomitconcerns


    unfortunately this is one of those instances where registered post should have been used. they had no way of officially knowing your intention till they got your letter...maybe as a goodwill if the person you spoke to was the manager they could take that as notice and your letter as confirmation...but i don't know if that's even feasible..sorry but I don't think its underhand..just bad luck on the timing


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    #3
    roro2
    Registered Users Posts: 412 ✭✭roro2


    http://personalbanking.bankofireland.com/fs/doc/wysiwyg/ics-30daysetnotice-tandc-july12.pdf

    T&Cs state that the notice must be given to the branch, and then the 30 days begin. Are they contravening them? I'm not sure. It's suitably vague which might let them off the hook. It's definitely worth pressing them on it - say you have the T&Cs, argue that you did address the notice to the branch and it's their internal affairs thereafter. There is also a good chance the person you were talking do is not familiar with the T&Cs of the account.


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    #4
    BuffyBot
    Registered Users Posts: 24,924 ✭✭✭✭BuffyBot


    Indeed, I would read it as "when it's received" physically, not when you sent it.


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    #5
    duchalla
    Registered Users Posts: 329 ✭✭duchalla


    Assistant Bank Manager rang me back yesterday evening, I gave her the line that roro2 suggested, (addressed the notice to the branch and it's an internal affairs matter after that). She said she'd call me back this morning, which she did and result! They're back dating the notice and I'll get my draft on the 10th August as I originally wanted. Cheers for the advice lads, especially roro2!


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