Setting up direct debit

Wailin

Hi, just wondering is it possible to set up a direct debit on 365online from my currant acc with another persons savings account?

Bank of Ireland: Sarah

Wailin wrote: »

Hi, just wondering is it possible to set up a direct debit on 365online from my currant acc with another persons savings account?

Hi Wailin, 

Thanks for contacting us on Boards.

It's not possible to set up a direct debit on 365 Online, these are usually set up between a company and your account. You can set up a standing order to another bank account however and choose how frequent you wish to make the transfer, for example every week or month.

To do this you will need the BIC and IBAN of the account you wish to make the standing order to. Then go to Manage Account on the left hand side of 365 Online, select Manage Standing Orders and Set up a Standing Order. You can find out more about setting up a Standing Orders here. Please make sure that the other persons Savings Account can accept transfers this way.

Thanks,
Sarah

Wailin

Bank of Ireland: Sarah wrote: »

Hi Wailin, 

Thanks for contacting us on Boards.

It's not possible to set up a direct debit on 365 Online, these are usually set up between a company and your account. You can set up a standing order to another bank account however and choose how frequent you wish to make the transfer, for example every week or month.

To do this you will need the BIC and IBAN of the account you wish to make the standing order to. Then go to Manage Account on the left hand side of 365 Online, select Manage Standing Orders and Set up a Standing Order. You can find out more about setting up a Standing Orders here. Please make sure that the other persons Savings Account can accept transfers this way.

Thanks,
Sarah

Thanks Sarah. Can you tell me what the difference is between standing order and direct debit? Can it be set up in such a way that funds can be taken from my account on a set date every month for a specified period of time?

Wailin

Bank of Ireland: Sarah wrote: »

Hi Wailin, 

Thanks for contacting us on Boards.

It's not possible to set up a direct debit on 365 Online, these are usually set up between a company and your account. You can set up a standing order to another bank account however and choose how frequent you wish to make the transfer, for example every week or month.

To do this you will need the BIC and IBAN of the account you wish to make the standing order to. Then go to Manage Account on the left hand side of 365 Online, select Manage Standing Orders and Set up a Standing Order. You can find out more about setting up a Standing Orders here. Please make sure that the other persons Savings Account can accept transfers this way.

Thanks,
Sarah

Thanks Sarah. Can you tell me what the difference is between standing order and direct debit? Can it be set up in such a way that funds can be taken from my account on a set date every month for a specified period of time?

Bank of Ireland: Sarah

Wailin wrote: »

Bank of Ireland: Sarah wrote: »

Hi Wailin, 

Thanks for contacting us on Boards.

It's not possible to set up a direct debit on 365 Online, these are usually set up between a company and your account. You can set up a standing order to another bank account however and choose how frequent you wish to make the transfer, for example every week or month.

To do this you will need the BIC and IBAN of the account you wish to make the standing order to. Then go to Manage Account on the left hand side of 365 Online, select Manage Standing Orders and Set up a Standing Order. You can find out more about setting up a Standing Orders here. Please make sure that the other persons Savings Account can accept transfers this way.

Thanks,
Sarah

Thanks Sarah. Can you tell me what the difference is between standing order and direct debit? Can it be set up in such a way that funds can be taken from my account on a set date every month for a specified period of time?

Hi Wailin, 

A standing order is a regular payment of a set amount that you personally set up to make payments to third parties or maybe another bank account of your own. You can choose to pay the standing order on a set date, please note that a standing order will not be paid on a weekend or bank holiday and if the date falls on these, the payment will be made the following working day. 
When you set up a standing order on 365 Online, you don't set an end date. However you can amend the amount of the standing order and also cancel the standing order at any time in  the Manage Accounts section. 

With a direct debit, this is a mandate which you agree on with a company, such as a gas bill or telephone bill. It gives them permission to take funds from your account and the amount can vary. You must be told the amount and date of the direct debit in advance of the payment. 

Thanks,
Sarah

Wailin

Bank of Ireland: Sarah wrote: »

Hi Wailin, 

A standing order is a regular payment of a set amount that you personally set up to make payments to third parties or maybe another bank account of your own. You can choose to pay the standing order on a set date, please note that a standing order will not be paid on a weekend or bank holiday and if the date falls on these, the payment will be made the following working day. 
When you set up a standing order on 365 Online, you don't set an end date. However you can amend the amount of the standing order and also cancel the standing order at any time in  the Manage Accounts section. 

With a direct debit, this is a mandate which you agree on with a company, such as a gas bill or telephone bill. It gives them permission to take funds from your account and the amount can vary. You must be told the amount and date of the direct debit in advance of the payment. 

Thanks,
Sarah

Thank you!