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is there a cut off point for standing orders

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  • 05-05-2016 8:35pm
    #1
    grongo666
    Registered Users Posts: 1 ✭


    Hello I am wondering - if there is a limited number of retries till a standing order payment does not go through. I have a standing order that is setup to pay my mortgage on 1st of every month but due to 1st may being a sunday and 2 may bank holiday monday - I was due to be paid by the 3rd -due to an issue with the company that does my payroll etc.. they could not transfer funds to my account till yesterday  the 4th -there is still no transfer of these funds to my mortgage provider. I was charged approximately 12 euros for late S/O fee - but I am wondering if this S/O payment will go out tomorrow -or does it terminate the process for this month after a couple of days - if so please advise and I will make different payment option.


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    #2
    Bank of Ireland: Evie
    Closed Accounts Posts: 455 ✭✭Bank of Ireland: Evie


    grongo666 wrote: »
    Hello I am wondering - if there is a limited number of retries till a standing order payment does not go through. I have a standing order that is setup to pay my mortgage on 1st of every month but due to 1st may being a sunday and 2 may bank holiday monday - I was due to be paid by the 3rd -due to an issue with the company that does my payroll etc.. they could not transfer funds to my account till yesterday  the 4th -there is still no transfer of these funds to my mortgage provider. I was charged approximately 12 euros for late S/O fee - but I am wondering if this S/O payment will go out tomorrow -or does it terminate the process for this month after a couple of days - if so please advise and I will make different payment option.
    Good Morning grongo666,

    Thanks for contacting us here on Boards.ie. Funds will applied for on the due (or nearest working day) a standing order is due. If these funds are not in the account at the opening of business they will fail to leave the account-they will not reapply again.

    To avoid falling behind on your payments you should make alternative arrangements to make this transfer. The easiest way for you to do this, is to take the details from the standing order and set up a new payee. You can do this in the Manage Accounts section of your 365 Online account. This money transfer will take one working day to process if going to a non-BOI account. 

    I hope this helps and thanks for getting in touch with us here today.

    Evie 


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