No Credit Transfers??

lesnol

Hi, 


I have my business account with BOI (for now!) and went into Dundrum this morning in order to pay a large invoice which was above the €20,000 online SEPA transfer limit. I was told that I could not do this any longer and I would have to fill in a withdrawal slip from my account and a lodgement slip to the other business account. This provides no visibilty or traceability for either myself or the other business concerned. This seems ludicrous to me. I did a credit transfer for a property purchase in PTSB only two weeks ago so I know this is still possible in other banks. Was I given incorrect information or is no longer possible to perform a credit transfer with BOI?

Bank of Ireland: Sarah

lesnol wrote: »

Hi, 


I have my business account with BOI (for now!) and went into Dundrum this morning in order to pay a large invoice which was above the €20,000 online SEPA transfer limit. I was told that I could not do this any longer and I would have to fill in a withdrawal slip from my account and a lodgement slip to the other business account. This provides no visibilty or traceability for either myself or the other business concerned. This seems ludicrous to me. I did a credit transfer for a property purchase in PTSB only two weeks ago so I know this is still possible in other banks. Was I given incorrect information or is no longer possible to perform a credit transfer with BOI?

Hi lesnol, 

Thank you for contacting us on Boards.

Sorry to hear that you are unhappy with the service you received. 

A credit transfer to another Bank of Ireland account will require you to fill in a dockets. This type of transfer will be made real time and will be available to the payee account immediately, although we are aware that a reference on this type of payment in branch cannot be included. 

However if your transfer is made on 365 Online or by standing order you may enter a reference. We'd also like to mention, if your beneficiary wishes to query the credit into their account at any stage, they can do so on 365 Online under the Online Service Desk facility. 

Hope the information above is helpful. 

Thanks,
Sarah

lesnol

Bank of Ireland: Sarah wrote: »

lesnol wrote: »

Hi, 


I have my business account with BOI (for now!) and went into Dundrum this morning in order to pay a large invoice which was above the €20,000 online SEPA transfer limit. I was told that I could not do this any longer and I would have to fill in a withdrawal slip from my account and a lodgement slip to the other business account. This provides no visibilty or traceability for either myself or the other business concerned. This seems ludicrous to me. I did a credit transfer for a property purchase in PTSB only two weeks ago so I know this is still possible in other banks. Was I given incorrect information or is no longer possible to perform a credit transfer with BOI?

Hi lesnol, 

Thank you for contacting us on Boards.

Sorry to hear that you are unhappy with the service you received. 

A credit transfer to another Bank of Ireland account will require you to fill in a dockets. This type of transfer will be made real time and will be available to the payee account immediately, although we are aware that a reference on this type of payment in branch cannot be included. 

However if your transfer is made on 365 Online or by standing order you may enter a reference. We'd also like to mention, if your beneficiary wishes to query the credit into their account at any stage, they can do so on 365 Online under the Online Service Desk facility. 

Hope the information above is helpful. 

Thanks,
Sarah

Hi,

How do I make a transfer that is referenced for over €20,000? Can I raise the transaction limit for a particular beneficiary, I would have been more  than happy to do an electronic transfer today as the other a/c was already a beneficiary on my a/c, I just though that I would need to appear in the branch in person to have the higher amount authorized. If multiple customers are paying a business for the same item, how can they tell who has paid? What proof would I have for a large purchase that the funds which left my account went to theirs if it does not go directly? How are property transactions handled with such small limitations for credit transfers ? How do I pay a beneficiary not with BOI? Sorry for all the questions but it would be an important service as a business to have a traceable record of where large withdrawals go once they leave our a/c.

Bank of Ireland: Sarah

Hi lesnol, 

When you use 365 Online, you can transfer amounts up to a maximum of €20,000 and for transfers over this amount we would direct you to make the transfer in branch. It is possible to make a SEPA transfer in branch using the SEPA transfer form to another account that is not Bank of Ireland.

However if you often make large transfers such as the one you mention above from your Business account, have you considered using our Business On Line service? With Business On Line you can make larger payments and the transfers can include an end to end reference which appears for the beneficiary, you can also enter more information in the payment message field. If you would like more information on Business On Line, please see here. 

Thanks,
Sarah