Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

BOI 365 transfer from current account to credit card account

Options
  • 29-05-2017 11:43am
    #1
    cupan_tae
    Registered Users Posts: 126 ✭✭


    HI

    How long does it take for a payment to go through when I transfer from my current account to my BOI mastercard. I.e. If I want by credit card balance to be 0 at the end of the month how many days in advance do I need to transfer.

    I assume the interest is calculated at the end of the month.

    In essence I want to use the credit card during the month but have the balance at 0 at the end of each month in order to avoid interest charges. When in the month do I need to do the boi 365 transfer from current a\c to boi mastercard a/c

    Regards
    Andrew


Comments

  • Options
    #2
    Genius2013
    Registered Users Posts: 77 ✭✭Genius2013


    cupan_tae wrote: »
    HI

    How long does it take for a payment to go through when I transfer from my current account to my BOI mastercard. I.e. If I want by credit card balance to be 0 at the end of the month how many days in advance do I need to transfer.

    I assume the interest is calculated at the end of the month.

    In essence I want to use the credit card during the month but have the balance at 0 at the end of each month in order to avoid interest charges. When in the month do I need to do the boi 365 transfer from current a\c to boi mastercard a/c

    Regards
    Andrew
    Any charges (except cash withdrawals) I incur on my card from 15th of the month until the 14th of the following month do not incur interest until the 9th of the following month again - ie transactions from the 15th Mar until 14th April must be paid by 9th May to avoid interest charges. Assume your card works same as mine.


  • Options
    #3
    Bank of Ireland: Darren
    Closed Accounts Posts: 991 ✭✭✭Bank of Ireland: Darren


    cupan_tae wrote: »
    HI

    How long does it take for a payment to go through when I transfer from my current account to my BOI mastercard. I.e. If I want by credit card balance to be 0 at the end of the month how many days in advance do I need to transfer.

    I assume the interest is calculated at the end of the month.

    In essence I want to use the credit card during the month but have the balance at 0 at the end of each month in order to avoid interest charges. When in the month do I need to do the boi 365 transfer from current a\c to boi mastercard a/c

    Regards
    Andrew
    Hi cupan_tae,

    Thanks for getting in contact with us. I can confirm that it can take one full working day for a 365 online transfer to credit a Bank of Ireland credit card.

    All details on how the interest is calculated is given here.

    To make sure you have a zero balance at the end of each month you can manually make a transfer through 365 online at least one working day before the end of each month to clear the existing balance on the credit card or you can set up a Direct Debit going to your credit card account so this is done automatically. This Direct Debit can be set up by filling out the mandate given here.

    Thanks again for the message,
    Darren.


Advertisement