Large Bank transfers without Bank Drafts?

des2021 · 07-08-2022 10:11am #1

is their any easy way to transfer large amounts of money via chip & pin using cards for things such as purchasing a car or home improvements for example.

from what i see you have to get a bank draft meaning having to call up the bank or visit the branch, and usaully the online services are limited to around 5000 euro per 24 hours.

or is their specific accounts out there that facilitate this im not aware of.

any feedback o this would be really helpful.

Saudades · 07-08-2022 10:29am

You could order a cheque book. They're like drafts, but no visits to branch required. Not sure if cheques have amount limits, that may depend on your bank.

mickdw · 07-08-2022 10:35am

Electronic transfer using online banking.

Bank will send you a card reader and using that, you can do large amounts.

Jim2007 · 07-08-2022 12:49pm

https://www.boards.ie/discussion/comment/119439993#Comment_119439993

The reason you need a draft is because a cheque is not acceptable.... a draft is drawn on the bank itself and is a guaranteed payment. Where as a cheque for a large amount could take several days for it to clear and might actually bounce.

coylemj · 08-08-2022 11:41am

https://www.boards.ie/discussion/comment/119440011#Comment_119440011

They don't all use card readers. Bank of Ireland do not and will allow you to transfer up to 20,000 in each 24 hours. If you define a new payee, the most you can transfer to that account in the following 24 hours is 1,000. This is to protect people from phishing scams.

https://www.bankofireland.com/help-centre/faq/much-can-transfer-365-online/

Large Bank transfers without Bank Drafts?

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