SEPA

whydoibother

This week, just after Easter Monday, I have noticed two instances in which SEPA payments have not been effected by the Bank of Ireland. I have contacted them in regards to this and they deny any responsibility, however I find it strange. I should have been paid today and funds from my account should have been transferred to Liberty Insurance this week.

I have contacted both the bank that pays me and Liberty Insurance. The other bank said the money was sent to my account on Tuesday, so it should have arrived at least today, and Liberty Insurance says that they have applied the Direct Debit onto my account also on Tuesday but no money has left my account to pay them.

I have asked the BOI directly if they were having problems with SEPA payments, they denied any problems or delays. I wonder if anyone else is having similar problems with the BOI...

Bank of Ireland: Sarah

Hi whydoibother,

Thank you for contacting us on Boards. 

Please note that Bank of Ireland will always credit funds into an account as soon as we receive them from the receiving bank. We can confirm that all of our systems are operating as normal and there are no payment delays.

Due to SEPA, payments can arrive at multiple times throughout the day into your account. You can find further information on SEPA here

If the Liberty Insurance payment is a Direct Debit, these type of payments are controlled by the company. If there are sufficient funds in your account, the payment will be taken, provided that the company has the correct account information for you. It would be necessary for you to check the delay of this payment with Liberty Insurance. 

I hope this clarifies the matter for you, and if you need help with any other query please do not hesitate to contact us again. 

Thanks,
Sarah 

KeithVal1

Hi, I've just experienced a similar scenario with SEPA direct debit/credit involving a salary being paid in late. My wage usually goes into my BOI account every Friday, however last Friday it did not appear. I was away in Uk at the time travelling back to catch the ferry home, so when my wage didn't go in it caused a few issues to say the least that nearly caused us to miss the ferry, luckily we got around it with a few phone calls. On querying as to why my wage had not been paid with my employer and local BOI branch, I was told that it was down to SEPA and that the funds could appear a bit later sometimes, but no-one really seems to know why this would be. Strangely my wage appeared into my account on the May day bank holiday Monday, plus we got child benefit credit paid in on the Saturday, which in my mind appears to shoe that something is not right. What has got up my nose is that 2 direct debits got bounced on the day my wage was due and I've been charged for each, through no fault of my own!!!! If you can't rely on when your wage is going to be paid in, what's the point in having any direct debits running as it will only rack up a series of charges. I find that BOI answer so far less than adequate and somewhat dismissive.

Bank of Ireland: Tara

Hi KeithVal1,

Thanks for getting in touch.

As Thursday May 1st was a bank holiday in some EU countries, the system which operates interbank transfers was closed. As a result of this, payments could not be settled between banks on this day. This lead to a lengthy processing of credits to accounts on Friday May 2nd. All credits with a value date of May 1st/2nd were applied to customer's accounts by Friday evening.


Monday May 5th was an Irish bank holiday and therefore a non-processing day. The only payments that would credit an account were BOI to BOI transfers which were requested on that particular day by the payer. Your employer can clarify how and when they processed the credit which arrived on the bank holiday.


If you feel the unpaid charges should not have been applied in this instance, please call BOI365 on 0818 365 365 and a representative will be happy to review them for you.


Thanks
Tara