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Bank Account Funds Transfer Fees?

  • 24-09-2015 7:39pm
    #1
    Theanswers
    Registered Users Posts: 699 ✭✭✭


    Hello, I have a quick question if I was to set up an account where people would pay money into my bank account on a regular basis would there be any bank fees for this service. If so what are the current fees? Would I receive the full amount from the senders bank a/c.

    Thank You.


Comments

  • #2
    GerardKeating
    Registered Users, Registered Users 2 Posts: 7,684 ✭✭✭GerardKeating


    Theanswers wrote: »
    Hello, I have a quick question if I was to set up an account where people would pay money into my bank account on a regular basis would there be any bank fees for this service. If so what are the current fees? Would I receive the full amount from the senders bank a/c.

    Thank You.

    Sender pays all fees. Varies by bank..


  • #3
    Theanswers
    Registered Users Posts: 699 ✭✭✭Theanswers


    Thank you for the reply. Would that be the case even if it was a standard direct debit. For example if I was to setup a monthly direct debit like UPC, or SKY. Who in that case would pay the fees?

    Would I the receiver pay or the sender?


  • #4
    GerardKeating
    Registered Users, Registered Users 2 Posts: 7,684 ✭✭✭GerardKeating


    Theanswers wrote: »
    Thank you for the reply. Would that be the case even if it was a standard direct debit. For example if I was to setup a monthly direct debit like UPC, or SKY. Who in that case would pay the fees?

    Would I the receiver pay or the sender?

    Actually to amend my answer above, if someone sends you funds, they pay the cost of the transfer, you receive the full funds, but (unless you have free banking) you might pay a transaction fee.

    If you want to use a "direct debit" to collect monies from people, you (as the originator of the DD) pay for the cost of the DD, plus the other party might have to pay a fee.

    Unless you are a largest co-pay, the bank won't let you do a dd


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