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Interest notification statement !!!

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  • 04-03-2011 3:12pm
    #1
    futurefarmer
    Registered Users Posts: 179 ✭✭


    Just got one of these today from BOI for the first time, its nearly €110 !!! First time i have recieved one so not sure what its for, Have an overdraft but i never exceed it and im up to date on all loans so im at a loss
    Rang my local Branch and they couldnt give me an answer either ! Said they will ring me back later, Im not impressed if they have new fees that are so high, have saving with them so if they are new fees will definately be clearing the overdraft and moving bank

    Sry thats my Rant for the day lol


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    #2
    jimoc
    Registered Users Posts: 634 ✭✭✭jimoc


    Depending on how big your overdraft is, this could just be the quarterly statement of interest on it.
    On an overdraft of 2.5K the quarterly interest works out to about 50 quid or so. Perhaps they are now only issuing these every six months maybe?


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    #3
    sarahlulu
    Registered Users Posts: 295 ✭✭sarahlulu


    The interest on your account is paid quarterly. This statement is the interest due on your account for the past 3 months. It is calculated on a daily basis on the overdrawn balance .


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    #4
    futurefarmer
    Registered Users Posts: 179 ✭✭futurefarmer


    Thanks folks, it seems i should have been paying it all along but they made a mistake when setting it up and just noticed now, Paid it off in full and cancelled it so im Broke but at least i wont be charged for it !


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