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Insufficient funds when charge hits account,what are rules?

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  • 15-10-2012 3:34pm
    #1
    dohouch
    Registered Users Posts: 1,540 ✭✭✭


    What happens if a after using the Debit card, abroad in this case, there are not enough funds on account when charge comes through? Can this actually happen?

    I've just had an escape, as I completely forgot about this debit and had just enough in account to cover, with just €1.50 to spare.
    thanks

    We're not suffering, only complaining 😞



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    #2
    Bank of Ireland: Tara
    Closed Accounts Posts: 2,346 ✭✭✭Bank of Ireland: Tara


    Hi dohouch,

    Thanks for getting in touch.

    Once we have authorised a payment on your card, it will be paid, regardless of the available balance on the account when it comes through.

    When a transaction comes out of an account and brings it into an unauthorised overdraft, there are over limit charges applied. These charges are calculated within the fee quarter and are currently as follows:

    1st item - No Charge
    2nd and 3rd item - €3.50 per item
    4th and 5th item - €5.00 per item
    6th item and over - €10 per item.

    If you have an overdraft facility set up on your account, providing no transactions bring the account over the overdraft limit, these charges would not be applied.

    Thanks
    Tara


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    #3
    Lyaiera
    Registered Users Posts: 5,818 ✭✭✭Lyaiera


    What's the process for getting an overdraft and what's the basic run down of charges and the like?

    I'm not too interested in using it, but it would be handy to have it in case there are timing issues with the new Visa Debit card taking money straight from the account.


  • Options
    #4
    Bank of Ireland: Laura
    Closed Accounts Posts: 414 ✭✭Bank of Ireland: Laura


    Hi Lyaiera.

    Thanks for your query.

    It is possible to apply for an overdraft on your account online, through your account holding branch or by calling Banking365 directly on 0818 365 365.

    An annual fee of €25 is applied when an overdraft facility is activated on an account. An interest surcharge will be charged if your account is overdrawn above your agreed overdraft amount. Charges will also apply if you do not revert to credit on your account for more than 30 days in a year. For more information on these charges, please see here.

    Hope this helps
    Laura


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