What does currency reference mean?

Emma Li

Hey there,

I'm trying to do set up a new payee in the Bank of Ireland online banking and I need to enter a currency reference. I don't know what this means and I can't find any explanation on the Bank of Ireland website.

Can anyone explain what to enter for currency reference? I think it is different that putting a note on the transfer because there's a separate space for 'Description'.

Thanks!

coylemj

On the data entry screen there is a blue 'i' icon beside each entry, hover your mouse pointer over that icon to see the field description.

In the case of the 'currency reference' field on the 'add payee' screen, it says the following.....

This text will be visible to the person or company you are paying, it can contain letters and numbers. If registering a credit card for payment, only enter the 16 digit card number.

So for person to person money transfers, the text will appear on the recipient's statement and you should just enter your name.

They shouldn't include the word 'currency', it's obviously misleading.

Bank of Ireland: Sarah

Hi Emma Li,

Thank you for contacting us on Boards.

We are unsure what "currency reference" you are referring to. As coylemj has correctly said, there is a payee "reference" field that refers to what will appear on the payee's statement. If paying a credit card, please enter the credit card number in this field. 

The "description" field is what you would like to appear on your own statement for that particular payment. 

Please note that when you choose to make an international transfer in a currency other than Euro, a drop-down list will appear with a list of available currencies. 

I hope this is clearer for you and if you need help with any further query please just ask us. 

Thanks,
Sarah

Terri26

Bank of Ireland: Sarah wrote: »

Hi Emma Li,

Thank you for contacting us on Boards.

We are unsure what "currency reference" you are referring to. As coylemj has correctly said, there is a payee "reference" field that refers to what will appear on the payee's statement. If paying a credit card, please enter the credit card number in this field. 

The "description" field is what you would like to appear on your own statement for that particular payment. 

Please note that when you choose to make an international transfer in a currency other than Euro, a drop-down list will appear with a list of available currencies. 

I hope this is clearer for you and if you need help with any further query please just ask us. 

Thanks,
Sarah

Hi Sarah, this 'currency reference' you are unsure the previous poster was referring to is still on the site. It is confusing and should detail you put your name so the recipient knows who is paying them. I found this information/thread by googling. thanks

Tow

The screen is badly laid out, the 'Currency' refers to the 'eur' to its right. But the fields are not equally spaced and there is no 'info' icon on it.

Note: For SEPA Credit Transfers the 'Reference' field is actually the 'End To End ID' .

Bank of Ireland: Tara

Hi All, 

As correctly mentioned by Tow, thank you, "Currency" and "Reference" are two different fields on the add a payee screen. One will show the currency and the second field "Reference" is what your payee will see on their statement. 

Tow, we'll ensure to pass on your comments regarding the spacing of these fields and thanks again for clarifying this.

Thanks
Tara

frehed

Hi,

I just had the exact same issue and found this thread through googling. The space between the two really needs to be altered. 

Tow

They have had almost 5 years to fix the problem, so don't hold you breath.

irelandjnr

This confused the hell out of me, too. Still the same on the site. BOI are the worst.

FergusEarley1

Bank of Ireland: Tara wrote: »

Hi All, 

As correctly mentioned by Tow, thank you, "Currency" and "Reference" are two different fields on the add a payee screen. One will show the currency and the second field "Reference" is what your payee will see on their statement. 

Tow, we'll ensure to pass on your comments regarding the spacing of these fields and thanks again for clarifying this.

Thanks
Tara

6 years later: still not fixed