Transferring a large sum abroad

pickarooney

Hi,

Living abroad, I will soon need to transfer a sum of money from a savings account in Ireland to a foreign bank. What's the exact procedure?

Bank of Ireland: Alison

[font=Verdana, sans-serif]Hi pickarooney[/font]
[font=Verdana, sans-serif] [/font]
[font=Verdana, sans-serif]Thank you for contacting us here on Boards.[/font]
[font=Verdana, sans-serif] [/font]
[font=Verdana, sans-serif]This will depend on how the account was opened and also the account type you have with us.[/font]
[font=Verdana, sans-serif] [/font]
[font=Verdana, sans-serif]For example, if it is a basic Demand Deposit Account you can transfer internationally using Bank of Ireland 365 Online. [/font]
[font=Verdana, sans-serif] [/font]
[font=Verdana, sans-serif]Would you know the name of the account type, (without giving account details), is it on a fixed term, regular saver or as above a Demand Deposit Account? Was the account opened within a branch or online? [/font]
[font=Verdana, sans-serif] [/font]
[font=Verdana, sans-serif]Can we ask are you looking to transfer some funds or all of the funds in the account and then close the account maybe? [/font]
[font=Verdana, sans-serif] [/font]
[font=Verdana, sans-serif]We can certainly try and help you here although the query is very much account specific, if possible, we would ask you to contact your branch here , a representative can advise the account type and how transfer can be requested.[/font]




[font=Verdana, sans-serif]Thanks[/font]

[font=Verdana, sans-serif]Alison[/font]

pickarooney

Hi Alison

The account type is Access Plus 6 month, which matured some time ago and is currently not accruing any interest. It was opened in the branch and is not connected to my Banking365 account. I'm not sure if or how I can do that.

I would like to transfer the entire contents and close the account.

Hopefully you can help.

Thanks
P

Bank of Ireland: Billy

Hi pickarooney, 

Thanks for your post. 

You can give notice to withdraw from the account on Bank of Ireland 365 Online and the funds would be transferred to your current account. You could then arrange an international transfer. 

To do this, you would need to have the Access Plus Deposit account listed on your online profile. Please log on and select 'Add your BOI Account' from your Online Service Desk inbox. There's an option to be notified when the account is registered, on the application. 
When the account has been registered online, you can give notice from your inbox. Details on this can be found here and the funds will be transferred to your current account.

You can then make an international transfer online however there are daily transaction limits. Information on this here  

I hope this helps.

Billy

margo321

Hi we have used a site called www.xe.com as the bank fees can be very high. When sending it xe gave me they're irish bank account. I'm with Ulster bank and they would charge around €15 to transfer to a foreign bank. but using XE's irish bank it's free and their rates are better too.

pickarooney

Bank of Ireland: Billy wrote: »

Hi pickarooney, 

Thanks for your post. 

You can give notice to withdraw from the account on Bank of Ireland 365 Online and the funds would be transferred to your current account. You could then arrange an international transfer. 

To do this, you would need to have the Access Plus Deposit account listed on your online profile. Please log on and select 'Add your BOI Account' from your Online Service Desk inbox. There's an option to be notified when the account is registered, on the application. 
When the account has been registered online, you can give notice from your inbox. Details on this can be found here and the funds will be transferred to your current account.

You can then make an international transfer online however there are daily transaction limits. Information on this here  

I hope this helps.

Billy

Thanks Billy,

Which of the account types in the dropdown list corresponds to an Access Plus account?
Demand Deposit or Term Savings account?

P

Bank of Ireland: Billy

pickarooney wrote: »

Bank of Ireland: Billy wrote: »

Hi pickarooney, 

Thanks for your post. 

You can give notice to withdraw from the account on Bank of Ireland 365 Online and the funds would be transferred to your current account. You could then arrange an international transfer. 

To do this, you would need to have the Access Plus Deposit account listed on your online profile. Please log on and select 'Add your BOI Account' from your Online Service Desk inbox. There's an option to be notified when the account is registered, on the application. 
When the account has been registered online, you can give notice from your inbox. Details on this can be found here and the funds will be transferred to your current account.

You can then make an international transfer online however there are daily transaction limits. Information on this here  

I hope this helps.

Billy

Thanks Billy,

Which of the account types in the dropdown list corresponds to an Access Plus account?
Demand Deposit or Term Savings account?

P

Hi, 

Please choose the 'Term, Notice or Regular Savings Account' option. 

Also, just to mention about international transfers on Bank of Ireland 365 Online - when transferring in Euro to EU Member States, there is no international Bank of Ireland charge. Normal transaction charges apply and this is 20c per transaction. 

Thanks

Billy 

pickarooney

Excellent. Thanks very much, Billy

pickarooney

Just another quick one on this - Once my savings account appears in my Banking 365 I should be able to make a transfer from there to my French bank account without the daily limit, correct? Or is there still a 20,000 limit?

Bank of Ireland: Alison

[font=Verdana, sans-serif]Hi pickarooney[/font]
[font=Verdana, sans-serif] [/font]
[font=Verdana, sans-serif]When you request to withdraw from your deposit account, the funds will transfer from your deposit account into your current account online and then you can certainly add your French bank account to follow through with the transfer. [/font]
[font=Verdana, sans-serif] [/font]
[font=Verdana, sans-serif]Just to mention, the transfer limits will still apply online, for example if you register your new payee and receive the security code by text, the daily limit is €3000. If you wish to receive the security code in the post, your daily transfer limit is €20,000. You can see more information on the daily limits here[/font]
[font=Verdana, sans-serif] [/font]
[font=Verdana, sans-serif]If you wish to transfer a larger amount, you can call into any nearby branch with photo identification. Alternatively, you can send a written request to your branch to facilitate the transfer. Within the letter request, we would ask you to include your account details, contact number and signature along with the international account details of your French account, bank name and address and the name on the designated account. [/font]
[font=Verdana, sans-serif] [/font]
[font=Verdana, sans-serif]We hope this information helps. If you have any further questions, please ask. We're happy to help.[/font]
[font=Verdana, sans-serif] [/font]
[font=Verdana, sans-serif]Thanks[/font]

[font=Verdana, sans-serif]Alison [/font]

pickarooney

So I made the transfer from the savings to the deposit account and now the amount is showing up in both accounts. I'm happy enough with that (!) but assuming it's an error that will sort itself out should I wait before making the international transfer?

Bank of Ireland: Nicola

Hi pickarooney,

Thanks for your post.

It will take one working day before the transaction fully updates online and you see the debit amount reflected on your deposit account, however you can still proceed to make a payment from your Current Account.

If there is anything else I can help with, please let me know.

Thanks


Nicola