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NIB changes to Easy accounts

  • 16-05-2012 2:56pm
    #1
    Yorky
    Registered Users, Registered Users 2 Posts: 1,485 ✭✭✭


    NIB are switching all 'Easy' accounts used for servicing a mortgage to 'Loan Servicing Accounts'.

    These new accounts will only permit transactions relating to the mortgage or associated insurances . Tax Relief at Source (TRS) cannot be paid in to a third party account and the only method of withdrawal is via Standing Order. Considering the monthly TRS credits are variable, it would not be possible to withdraw the funds in this way.

    Has anyone taken issue with NIB over this?


Comments

  • #2
    homer911
    Registered Users, Registered Users 2 Posts: 5,150 ✭✭✭homer911


    Yorky wrote: »
    NIB are switching all 'Easy' accounts used for servicing a mortgage to 'Loan Servicing Accounts'.

    These new accounts will only permit transactions relating to the mortgage or associated insurances . Tax Relief at Source (TRS) cannot be paid in to a third party account and the only method of withdrawal is via Standing Order. Considering the monthly TRS credits are variable, it would not be possible to withdraw the funds in this way.

    Has anyone taken issue with NIB over this?

    I have a custody account with NIB and enquired about the sitation if closing my current account. I was told the current account would switch to a service account and I would not have internet banking on it (but I might be able to see the balance). To withdraw funds, I could request a cheque!!


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