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Told at bank counter that euro transfer takes upto 4 days

  • 27-04-2018 3:16pm
    #1
    buzz11
    Registered Users, Registered Users 2 Posts: 764 ✭✭✭


    My mother is a BOI customer and wanted to make transfer to another irish account. She is not able to use internet or phone banking and always goes to the counter.

    She was given an international transfer form to fill out and was given no help so phoned me to assist (I was nearby)
    We completed the form and went back to the counter together where the counter person told us;
    • the cut off time was 12pm
    • it would take upto 4 days for funds to arrive in recipients account
    • otherwise pay €22 for same day transfer but this would only happen on Monday (at this time it was 3.45pm on Friday)
    [*]

    I don't think any of the 3 points of information above is correct for a standard euro/euro transfer, is the information incorrect?


Comments

  • #2
    Bank of Ireland: Jane
    Closed Accounts Posts: 266 ✭✭Bank of Ireland: Jane


    buzz11 wrote: »
    My mother is a BOI customer and wanted to make transfer to another irish account. She is not able to use internet or phone banking and always goes to the counter.

    She was given an international transfer form to fill out and was given no help so phoned me to assist (I was nearby)
    We completed the form and went back to the counter together where the counter person told us;
    • the cut off time was 12pm
    • it would take upto 4 days for funds to arrive in recipients account
    • otherwise pay €22 for same day transfer but this would only happen on Monday (at this time it was 3.45pm on Friday)


    [*]

    I don't think any of the 3 points of information above is correct for a standard euro/euro transfer, is the information incorrect?
    [*]
    Hi buzz11,

    thanks for your post here on Boards.

    The information you received by the advisor in the branch is correct.

    Transfers to a Euro to Euro account would be sent by a SEPA transfer, however all Euro accounts will have an IBAN ( International Bank Account number) This would have been the correct form to fill out.

    The cut of time for a same day money transfer would have been 12pm at the counter.
    The 4 day timeframe given by the advisor seems to have included the weekend. As the funds were sent after the banks cut off time of 3:30pm, the transfer will not process till the next business day, being Monday in this case, and reach the payees account the next day, being next Tuesday.
    This would be the same for an online transfer.

    There is a fee of this amount to send a same day money transfer and as the cut off time has passed for today we wouldn't be able to send the funds till Monday.

    Please let us know if we can help with anything else.

    Thanks again,
    Jane.


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