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Questioion regarding BOI's overlimit charges

  • 22-02-2012 12:38am
    #1
    Gisty
    Registered Users, Registered Users 2 Posts: 84 ✭✭


    I've recently discovered that despite not having an overdraft facility, BOI has been allowing charges to go through on my laser card and at the ATM even though there isn't enough cash in the account, then stiffing me with charges. Its usually close to payday when I'll go to an ATM and take out 50 quid when I would only have 30 odd euro left in the account. The machine still lets it happen despite me not having sufficiant funds.

    I've spoke to a few people about this and apparantly if you have even just 1c in your account they'll let you take out up to 50 quid.

    Now I know that I should keep a closer eye on my balance and usually do check the balance when I'm at BOI machines, but its not always possible to check it. I never asked for or wanted this facility, and as far as I'm concerned if there's insufficiant funds in my account that should be the end of it. Because of this poilicy of theirs I'm now not eligable for a loan, despite only being overdrawn by 30 odd euros at the most at any one time and have been stung with charges every time this has happened.

    Has anyone else encountered this? And does anyone know if its possible to opt out of this. I'll be ringing the first thing in the morning about it, and if I can't put an end to it I'll be switching to another bank.


Comments

  • #2
    chris85
    Registered Users, Registered Users 2 Posts: 4,502 ✭✭✭chris85


    Gisty wrote: »
    I've recently discovered that despite not having an overdraft facility, BOI has been allowing charges to go through on my laser card and at the ATM even though there isn't enough cash in the account, then stiffing me with charges. Its usually close to payday when I'll go to an ATM and take out 50 quid when I would only have 30 odd euro left in the account. The machine still lets it happen despite me not having sufficiant funds.

    I've spoke to a few people about this and apparantly if you have even just 1c in your account they'll let you take out up to 50 quid.

    Now I know that I should keep a closer eye on my balance and usually do check the balance when I'm at BOI machines, but its not always possible to check it. I never asked for or wanted this facility, and as far as I'm concerned if there's insufficiant funds in my account that should be the end of it. Because of this poilicy of theirs I'm now not eligable for a loan, despite only being overdrawn by 30 odd euros at the most at any one time and have been stung with charges every time this has happened.

    Has anyone else encountered this? And does anyone know if its possible to opt out of this. I'll be ringing the first thing in the morning about it, and if I can't put an end to it I'll be switching to another bank.

    Its basically an unauthorised overdraft. By actually attempting to take out money or putting through a transaction you are asking the bank to release funds. The bank may allow it through but there are charges associated with it. You must keep yourself aware of the balance really. BOI system now updates instantly for laser transaction and all that so balance should be very up to date.


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