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Standing Order

  • 17-10-2022 2:44pm
    #1
    Underground
    Registered Users, Registered Users 2 Posts: 2,506 ✭✭✭


    Hi there,

    I set up a standing order to pay rent to my landlord starting from the 1st of next month.

    The landlord expects the rent in their account on the first. My question is, do the funds land in their account on the first, or are they just debited from my account on the 1st, landing in the landlords account a few days later?

    My account is a BOI account and the beneficiary account is an AIB account.

    Thanks.



Comments

  • #2
    Bank of Ireland Reps
    Closed Accounts Posts: 1,293 ✭✭✭Bank of Ireland Reps


    Hi there,

    Thanks for getting in touch with us.

    If the standing order is set up for the 1st of the month then the payment will leave your current account on that date and it will take 1-2 working days to reach the AIB account.

    If the landlord expects the payment on the 1st we would advise to set this up for the 29th or 30th of the month to ensure they get the payment in time. For this month we would recommend setting it for the 27th for example due to the Bank Holiday weekend if they need the payment by the 1st of November.

    Please see here to amend standing orders. Manage standing orders - Bank of Ireland Group Website

    Thanks,

    Declan



  • #3
    Underground
    Registered Users, Registered Users 2 Posts: 2,506 ✭✭✭Underground


    Thanks. Just to flag that I can't actually amend or cancel the standing order because it's brand new and doesn't appear on the app until after the first payment has been made.

    Appreciate it's out of your hands but that's probably something that needs to be tweaked. It seems mad that the bank can't cancel it on my instruction when I call up to ask. I have to sort this another way myself now, quite frustrating.



  • #4
    Underground
    Registered Users, Registered Users 2 Posts: 2,506 ✭✭✭Underground


    Update: it showed up on the app tonight and I was able to cancel. Crisis averted.



  • #5
    Bank of Ireland Reps
    Closed Accounts Posts: 1,293 ✭✭✭Bank of Ireland Reps


    https://www.boards.ie/discussion/comment/119757745#Comment_119757745

    Great, thanks so much for the update, Alison



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