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Bank draft is minimum €500

  • 19-05-2017 11:15am
    #1
    allthedoyles
    Registered Users, Registered Users 2 Posts: 6,893 ✭✭✭


    Hi
    Is this a new thing ...........was looking for bank draft for €450 and told minimum is €500 . ?


Comments

  • #2
    Bank of Ireland: Sarah
    Closed Accounts Posts: 1,640 ✭✭✭Bank of Ireland: Sarah


    allthedoyles wrote: »
    Hi
    Is this a new thing ...........was looking for bank draft for €450 and told minimum is €500 . ?
    Hi allthedoyles,

    Thanks for contacting us on Boards.

    Our bank draft policy of €500 minimum draft has been in place for about five years, apologies if you were unaware of this before heading to the branch. If we can help with any other query please let us know. 

    Thanks,
    Sarah


  • #3
    allthedoyles
    Registered Users, Registered Users 2 Posts: 6,893 ✭✭✭allthedoyles


    Well just because its been in place 5 years don't make it right .  I recently got a bank draft for €3,000 and the bank teller just kept mumbling on about the reasons why she should not be issuing me with bank draft .
    She did tell me it was the old-fashioned way of doing business and that how it would be so much easier to use other methods , but never mentioned the €500 minimum.

    In this case , I wanted a bank draft and my payee wanted a bank draft , so its ridiculous that I can get one for €501 but not €460.


  • #4
    irishgrover
    Registered Users, Registered Users 2 Posts: 2,496 ✭✭✭irishgrover


    the bank don't want you to purchase bank drafts as they involve humans and therefor overhead (branches, people etc) and as a consequence less profit, so they make it inconvenient in order to dissuade you from asking for them....


  • #5
    allthedoyles
    Registered Users, Registered Users 2 Posts: 6,893 ✭✭✭allthedoyles


    irishgrover wrote: »
    the bank don't want you to purchase bank drafts as they involve humans and therefor overhead (branches, people etc) and as a consequence less profit, so they make it inconvenient in order to dissuade you from asking for them....
    I was even willing to pay the €2.40 fee for this bank draft which is nearly 3 times than BOI would receive for an online transaction


  • #6
    blade1
    Registered Users, Registered Users 2 Posts: 12,610 ✭✭✭✭blade1


    allthedoyles wrote: »
    irishgrover wrote: »
    the bank don't want you to purchase bank drafts as they involve humans and therefor overhead (branches, people etc) and as a consequence less profit, so they make it inconvenient in order to dissuade you from asking for them....
    I was even willing to pay the €2.40 fee for this bank draft which is nearly 3 times than BOI would receive for an online transaction
    Use TransferWise.


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