Child Saver account issues.

Clashmore

  I recently went to of your branches to open a bank account for my child. I was advised by staff to open a child saver account. When my father went to transfer money into this account he was unable to. He was informed he could not set up a transfer of any kind into this account eg standing order, bank transfer. The only way to lodge money was to physically do it in a bank. It was explained to him that this due to money laundering rules. Can I close this account and open an account in my name for my child as we wish to be able to transfer money into the account thru online banking.

Clashmore

Bank of Ireland: Billy

Clashmore wrote: »

  I recently went to of your branches to open a bank account for my child. I was advised by staff to open a child saver account. When my father went to transfer money into this account he was unable to. He was informed he could not set up a transfer of any kind into this account eg standing order, bank transfer. The only way to lodge money was to physically do it in a bank. It was explained to him that this due to money laundering rules. Can I close this account and open an account in my name for my child as we wish to be able to transfer money into the account thru online banking.

Clashmore

Hi Clashmore,

Thanks for your post.

Savings to the ChildSaver account are by monthly direct debit. You can also lodge up to €10,000 in lump sum savings in-branch.

It is possible to close the account. You can book an appointment with a Savings Advisor here who will be happy to help and go through the available account types with you.

Thanks

Billy