SEPA DIRECT DEBIT

hillbloom

Can you explain a SEPA DIRECT DEBIT?  I it different to a DIRECT DEBIT ie for you electricity bill.  How can it be set up. Thanks.

Bank of Ireland: Sarah

hillbloom wrote: »

Can you explain a SEPA DIRECT DEBIT? I it different to a DIRECT DEBIT ie for you electricity bill. How can it be set up. Thanks.

Hi hillbloom,

Thank you for getting in touch with us on Boards.

A SEPA Direct Debit would be set up with the company directly. We moved from the old system of direct debits several years ago and so the SEPA Direct Debit system allows you to set up a direct debit in any SEPA reachable country. We have more information on our website here.

Thanks,
Sarah

hillbloom

I d'ont understand the info on the website. There's too much in it!! Just simply, is it the same as the usual SEPA i.e I set it up & log in whenever I want to pay something to that person or company. Or do I have to contact the company (other than to get their bank details.  Is it an automatic transfer or do I do it myself.  Sorry for all the questions.

Bank of Ireland: Alison

Thanks hillbloom for coming back to us.

Ask as many questions as you need, we're happy to help.

A direct debit would be set up by the company itself. We would suggest making contact with the company and advise them you would like to pay by direct debit from your account. They may ask you to sign a form to input your IBAN and BIC. Then when the bill payment is due they will automatically come through and present for the bill amount on your account.

When you login online, you can set up a standing order to pay a company or person, this works differently than a direct debit. This is an instruction set up by you to transfer a set amount of funds at your requested frequency. Although, if the amount of the bill changes from month to month a direct debit may be more practical as the standing order is set up for a set amount and you would need to log in and manually change the amount each time the bill was due.

We hope the information helps, feel free to get back in touch if we can help further.

Many Thanks
Alison

hillbloom

Hi Alison
I have a Bank of Ireland Credit Card.  At the moment I transfer the payment after I make a purchase. But should I ever forget to do this I would like to have the minimum amount transferred monthly, could you explain how I set this up. Thanks for all your help.  

Bank of Ireland: Alison wrote: »

Thanks hillbloom for coming back to us.

Ask as many questions as you need, we're happy to help.

A direct debit would be set up by the company itself. We would suggest making contact with the company and advise them you would like to pay by direct debit from your account. They may ask you to sign a form to input your IBAN and BIC. Then when the bill payment is due they will automatically come through and present for the bill amount on your account.

When you login online, you can set up a standing order to pay a company or person, this works differently than a direct debit. This is an instruction set up by you to transfer a set amount of funds at your requested frequency. Although, if the amount of the bill changes from month to month a direct debit may be more practical as the standing order is set up for a set amount and you would need to log in and manually change the amount each time the bill was due.

We hope the information helps, feel free to get back in touch if we can help further.

Many Thanks
Alison

Bank of Ireland: Tara

Hi hillbloom,

Thanks for getting back to us. If you go to the link here, you can print and return the Direct Debit form in the Credit Card section to have this set up. You can also request this by calling the credit card team on 1890251251.

Thanks
Tara