Is there a glossary to explain the cryptic terms used for transaction details in Onli

Fiascosf

for example: NEPOSCHGUSD 16? I'm guessing it's a fee for a POS transaction in UD $. I'd rather not have to guess when we dealing with money. Please advise. 
Thanks.

Bank of Ireland: John

Fiascosf wrote: »

for example: NEPOSCHGUSD 16? I'm guessing it's a fee for a POS transaction in UD $. I'd rather not have to guess when we dealing with money. Please advise. 
Thanks.

Hi Fiascosf,

Thanks for getting in touch with us.

The narratives that would appear on your online transactions are submitted by the retailer so we would have no control changing that. We do understand how these can appear confusing at times. You are correct - the POS relates to 'Point of Sale' the CHG is 'Charge' and the USD means 'US Dollars' - The number relates the transaction made.

 If you have any queries relating to fee's or charges that may appear confusing on your statement you can contact us here or on any of our social media channels and you can of course call our BOI Direct team on 0818 365 365 and we will always be here to help.

 Have a nice day.

 
John

jma

Bank of Ireland: John wrote: »

Fiascosf wrote: »

for example: NEPOSCHGUSD 16? I'm guessing it's a fee for a POS transaction in UD $. I'd rather not have to guess when we dealing with money. Please advise. 
Thanks.

Hi Fiascosf,

Thanks for getting in touch with us.

The narratives that would appear on your online transactions are submitted by the retailer so we would have no control changing that. We do understand how these can appear confusing at times. You are correct - the POS relates to 'Point of Sale' the CHG is 'Charge' and the USD means 'US Dollars' - The number relates the transaction made.

 If you have any queries relating to fee's or charges that may appear confusing on your statement you can contact us here or on any of our social media channels and you can of course call our BOI Direct team on 0818 365 365 and we will always be here to help.

 Have a nice day.

 
John

Actually, this is incorrect information. These transaction details are coming from the bank, not the retailer. It is very annoying because it takes a long time to identify these transactions.

When you use your BOI VISA debit card to make a transaction in USD, Bank of Ireland do NOT show the details submitted by the retailer. Instead, BOI will show you the following:

POS1109US 50@1.15687

This transaction means it was a Point of Sale transaction made on the 11th of September, probably posted 2 or 3 days later. It also means you made a payment of $50.00 USD at an exchange rate of 1.15687.

Furthermore, you will see another transaction like this:

NEPOSCHGUSD 5

This is NOT a Point of Sale transaction and was not even charged by a retailer. This is a cross-border fee charge from BOI themselves, so I'm surprised BOI reps are giving out incorrect information. The number 5, for some reason, represents the fact that you made a payment of 50-something USD (if you paid $25, for example, it would show NEPOSCHGUSD 2).

The problem with these charges is that there is no way to identify the retailer and therefore, it makes it very difficult to know where your money is going. It makes it even more difficult for business accounts, since the accounts need to be reconciled at least once every 6 months!

jma

@Fiascosf Following the above (illogical) logic, you will probably see another transaction for 160-something USD like POS3011US 162@1.16, probably posted on the same day. And your NEPOSCHG transaction will probably be in the region of €2.80.

Ally Dick

There's only 18 characters available, and a lot of information that the bank is obliged to show, per regulations. However there are certain transactions that can be expanded on 365 if you hit the '+' button beside them, but not all of them have this explanation, and charges levied by the bank won't have them

jma

Ally Dick wrote: »

There's only 18 characters available, and a lot of information that the bank is obliged to show, per regulations. However there are certain transactions that can be expanded on 365 if you hit the '+' button beside them, but not all of them have this explanation, and charges levied by the bank won't have them

I know about the expansion of details on 365, but usually only applies to incoming payments. I don't recall seeing it for outgoing payments. And while there may be an 18-character limit for domestic transfers, this does not mean that the banks are limited as to what they show on their customers' statements. For example, SEPA transfers have a 140-character limit for remittance details. Regardless, banks can show whatever they like on their customers' statements.

Tow

18 character limit is a legacy issue with their old systems.
As Jma says the SEPA (+ international) field lengths are much longer. The EndToEndID 'Reference' is 35,  Names are 70 and Remittance Informations is 140.  In addition there are fields for address, phone numbers emails etc.

Ally Dick

Tow wrote: »

18 character limit is a legacy issue with their old systems.
As Jma says the SEPA (+ international) field lengths are much longer. The EndToEndID 'Reference' is 35,  Names are 70 and Remittance Informations is 140.  In addition there are fields for address, phone numbers emails etc.

Hopefully this issue will be addressed when they replace the legacy system. I'm sure it's being considered.