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Can I cancel direct debit on a loan from BOI?

  • 01-03-2019 9:03pm
    #1
    [Deleted User]
    Posts: 14,344 ✭✭✭✭


    Hi Folks,

    I got a personal loan from Bank Of Ireland recently. I've had a few loans in the past from ye guys, all paid and done, never really fell behind or anything like that.

    Applied for a new loan, and deferred first payment for 2 months (loan term is 12 months).

    I'm wondering, if I ring ye guys up, is it possible to cancel the direct debit on the loan? So instead of paying a set fee on the first day of every month, I can just randomly throw money at it?

    (my situation is that I don't get paid monthly, I get paid ever 5-6 weeks. so, for example, I have two months' worth of payments that i can pay right now, but even if i pay them now, I'll still be hit with the direct debit when it's due for the first agreed payment, anyway. I'm just trying to avoid keeping money hanging around with no purpose other than waiting for a specific date to pay off a loan).

    I've not fallen on hard times or anything (thankfully) so it's not an attempt to restructure the loan or anything like that.

    Is this possible?


    Cheers.


Comments

  • #2
    Bank of Ireland: Alison
    Closed Accounts Posts: 1,060 ✭✭✭Bank of Ireland: Alison


    Thanks KKV for checking this here with us.

    The loan repayments would need to be made inline with the initial agreement.

    Although the repayments instruction will stay in place, with a standard personal or car loan you can make adhoc payments into this when you wish. Assuming your current account is also with us you can login www.365online.com select Manage Accounts/ Add BOI Account and you can add your loan account to your 365 profile within 5-7 business days.

    I understand it's not the answer you may have been hoping for, I hope the information helped.

    Many thanks
    Alison


  • #3
    [Deleted User]
    Posts: 14,344 ✭✭✭✭ [Deleted User]


    Bank of Ireland: Alison wrote: »
    Thanks KKV for checking this here with us.

    The loan repayments would need to be made inline with the initial agreement.

    Although the repayments instruction will stay in place, with a standard personal or car loan you can make adhoc payments into this when you wish. Assuming your current account is also with us you can login www.365online.com select Manage Accounts/ Add BOI Account and you can add your loan account to your 365 profile within 5-7 business days.

    I understand it's not the answer you may have been hoping for, I hope the information helped.

    Many thanks
    Alison
    That's no problem at all, I appreciate the reply.

    Thank you Alison.


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