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S/O Late ICB

  • 01-08-2017 11:46am
    #1
    mick2311
    Registered Users, Registered Users 2 Posts: 28 ✭


    I currently have a loan with BOI and use my BOI current account to pay this loan. My BOI account is not my main banking account so normally every month i transfer the required amount from my main account.
    However while i was away in July i transferred money into my BOI account to use for day to day money.
    The Loan takes €170 on the 22nd of every month which in July the 22nd was a Saturday so i Expect the S/O rolled forward to Monday the 24th. I have just looked back on my account and the payment didn't come out until the 26th and was charged a late S/O fee. I don't understand why this happened as the balance on the account was above 300 on the 22nd 23rd 24th and 25th. I am not too worried about the S/O charge but more the implications of this happening will this be reported to the ICB??


Comments

  • #2
    Bank of Ireland: Darren
    Closed Accounts Posts: 991 ✭✭✭Bank of Ireland: Darren


    mick2311 wrote: »
    I currently have a loan with BOI and use my BOI current account to pay this loan. My BOI account is not my main banking account so normally every month i transfer the required amount from my main account.
    However while i was away in July i transferred money into my BOI account to use for day to day money.
    The Loan takes €170 on the 22nd of every month which in July the 22nd was a Saturday so i Expect the S/O rolled forward to Monday the 24th. I have just looked back on my account and the payment didn't come out until the 26th and was charged a late S/O fee. I don't understand why this happened as the balance on the account was above 300 on the 22nd 23rd 24th and 25th. I am not too worried about the S/O charge but more the implications of this happening will this be reported to the ICB??

    Hi mick2311,

    A missed standing order charge would usually come off your account a few days after the standing order was presented for. I would ask you to raise this query through the "Ask a question" section of your 365 online profile, as the advisers there will be able to check on what date the standing order is due to come out each month and also why the standing order in question went unpaid.

    I hope this has been some help and please let us know if we can help you with anything else.
    Thanks again,
    Darren.


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