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ATM Withdrawal limit while abroad. Account Safety or Account Scam?

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  • 20-04-2015 5:17pm
    #1
    Macky81
    Registered Users Posts: 3 ✭


    I have been abroad before and now feel the urge to seek advice or make complaint about the daily limit which is placed on accounts for withdrawing from an ATM. I will use my recent trip to Asia as an example.

    While in Asia this month, the most I could get from my account was €150 in one day incurring a BOI fee of approx €5.20 each time I withdrew money from an ATM. BOI made €50 off my recent trip.

    While I have been advised by BOI that this "limit" is in case my card is stolen and my account cleared out, I believe this is nothing more than a scam by the bank to extort fees from customers. The daily limit is absolutely pathetic and my complaint or query is how on earth would a minnow like me have any say in requesting the banks to UP THIS LIMIT!!! Is there any legislation behind it and is it equivalent to other banks? 

    I would also like to add that this limit disabled me from paying for hotels and goods and I therefore had to use my credit card, thus giving the bank more opportunity to extort money from me.


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    #2
    Bank of Ireland: Elaine
    Closed Accounts Posts: 1,367 ✭✭✭Bank of Ireland: Elaine


    Hi Macky81, 

    Thank you for your post and welcome to Boards.ie. 

    We are sorry to hear that you are unhappy with the daily withdrawal limits and that you were inconvenienced while abroad.

    Although we are unable to comment on Bank of Ireland policies or indeed other banks polices regarding these limits, we would like assure you that this service is implemented for security on your account. 

    While we are unable to increase or disable the withdrawal limits, they do not impact or affect point of sale transactions. Just to mention, foreign banks may also apply their own limits at ATM's which we would have no control over. 

    We have recently addressed a similar query here on Boards.ie which you might find useful. 

    Should you wish to make a complaint regarding your recent experience, you can find our official complaints process here on our website. 

    We would like to thank you for your feedback and we will ensure that this is forwarded to the relevant department. 

    Thanks, 
    Elaine 


  • Options
    #3
    Macky81
    Registered Users Posts: 3 ✭Macky81


    Security for a cost Elaine I might add!

    Thanks for the reply.


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