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Repaid loan early

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  • 25-03-2014 1:17pm
    #1
    ErinGoBrath
    Registered Users Posts: 2,345 ✭✭✭


    Hi,

    Earlier this month I cleared off the remaining balance of a variable rate loan via 365 online.

    Today the monthly loan payment was taken from my account and my loan account is now in credit.

    Should I have informed the bank I was clearing my loan in advance?

    Thanks


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


    Hi ErinGoBrath,

    Thanks for getting in touch.

    When clearing a loan early it would be necessary to contact your branch to ensure the standing order is cancelled. A representative in your branch can arrange to have any over-payment transferred back to your current account and to ensure the standing order is cancelled to avoid any further payments debiting your account.

    Thanks
    Tara


  • Options
    #3
    ErinGoBrath
    Registered Users Posts: 2,345 ✭✭✭ErinGoBrath


    Thanks a million Tara


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