365 Online Updates

Bank of Ireland: Tara

Hi All,

Based on feedback and suggestions received through our various customer service channels, including our own favourite channel Boards.ie, we’re delighted to announce the Development Team has made some changes on 365 Online.  

Available Funds
We’ve added a second account balance to your online view. The screen will display the overall balance in your account and when you’re in expanded view on the account, you’ll now see an ‘Available Funds’ balance. This is just below where the IBAN and BIC are displayed. The available funds will include any overdraft facility on the account but will exclude the value of cheques or drafts lodged that are still in the clearing process. This will make it so much easier to know when a cheque/draft has cleared.

SEPA Direct Debit Cancellation.
We’ve added the option to cancel a SEPA direct debit directly from the 365 homepage or Recent Transaction screen of 365 Online. When in expanded view of a recent SEPA direct debit transaction you can select the new Cancel button. This option will pre-fill specific details such as UMR, Creditor ID and name and IBAN into the cancellation form.

IBAN only for adding SEPA payees.
When adding a new SEPA payee or creating a new standing order, you no longer need to fill in the BIC field. We will determine the correct BIC from the IBAN details you provide.

Any questions, please feel free to ask and please keep the suggestions and feedback coming!

Thanks

Tara

Tow

Hi Tara,

I see from above that only an IBAN is required for the setup of standing orders. Does this mean that your Standing Order system is now SEPA compliant?
e.g. It is now possible to setup a standing order to another SEPA country, or is it still limited to Republic of Ireland accounts.

Thanks,
Tow.

Bank of Ireland: Sarah

Tow wrote: »

Hi Tara,

I see from above that only an IBAN is required for the setup of standing orders. Does this mean that your Standing Order system is now SEPA compliant?
e.g. It is now possible to setup a standing order to another SEPA country, or is it still limited to Republic of Ireland accounts.

Thanks,
Tow.

Hi Tow, 

Thanks for your post. 

There is no change to Standing orders on 365 Online however if this changes we will sure to post an update here. 

Thanks
Sarah

JTMan

@Tow - SEPA requires IBAN only. Most banks ask for both IBAN and BIC but only IBAN is mandatory. From 1 February 2016, banks will only be able to ask for IBAN's as part of the next phase of SEPA. It is clear, from the above, that BoI are preparing for the IBAN only rules. 

Tow

@JTMan.
The problem is that BOI's Standing order system is not SEPA compliant. It would appear they are stripping the Sortcode and Account number from the IBAN and reconstituting the IBAN at the other end, to make the credit transfers.  Thus you cannot sent up standing orders with BOI for other SEPA countries.