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Unpaid S/O Charges

  • 20-09-2019 3:42pm
    #1
    Eire-Dearg
    Registered Users, Registered Users 2 Posts: 8,900 ✭✭✭


    Hi,

    I've been dealt unpaid S/O charges to my current account due to lack of funds. However, I do have funds in my savings account which I tried to transfer over to my current account in time. Unfortunately, this takes up to a week to transfer which is very frustrating. 

    Why does it take so long? Charges that could have been avoided, despite having more than enough funds on my account.


Comments

  • #2
    Ally Dick
    Registered Users, Registered Users 2 Posts: 12,741 ✭✭✭✭Ally Dick


    Eire-Dearg wrote: »
    Hi,

    I've been dealt unpaid S/O charges to my current account due to lack of funds. However, I do have funds in my savings account which I tried to transfer over to my current account in time. Unfortunately, this takes up to a week to transfer which is very frustrating. 

    Why does it take so long? Charges that could have been avoided, despite having more than enough funds on my account.
    Is your savings account in the same bank as your current account? if they are in the same branch, the transfer would be same day, and you would make the standing order payment


  • #3
    tedpan
    Registered Users, Registered Users 2 Posts: 4,627 ✭✭✭tedpan


    Ally Dick wrote:
    Is your savings account in the same bank as your current account? if they are in the same branch, the transfer would be same day, and you would make the standing order payment


    The op probably has a savings account where you have a 7 day wait once you request funds.


  • #4
    Ally Dick
    Registered Users, Registered Users 2 Posts: 12,741 ✭✭✭✭Ally Dick


    tedpan wrote: »
    Originally posted by Ally Dick
    Is your savings account in the same bank as your current account? if they are in the same branch, the transfer would be same day, and you would make the standing order payment


    The op probably has a savings account where you have a 7 day wait once you request funds.
    Ah right. That makes sense. It's not going to be effective for covering standing orders unless they set up the transfer 7 days in advance of the standing order


  • #5
    Bank of Ireland: Jennifer
    Closed Accounts Posts: 490 ✭✭Bank of Ireland: Jennifer


    Eire-Dearg wrote: »
    Hi,

    I've been dealt unpaid S/O charges to my current account due to lack of funds. However, I do have funds in my savings account which I tried to transfer over to my current account in time. Unfortunately, this takes up to a week to transfer which is very frustrating. 

    Why does it take so long? Charges that could have been avoided, despite having more than enough funds on my account.

    Hi Eire-Dearg,

    Thanks for getting in touch with us here on Boards. If there is insufficient funds in your account at the time a Standing order is due to be paid out an unpaid fee of 12.70 will automatically be applied to your account.

    Please be assured that transfers from Bank of Ireland to Bank of Ireland are the same day. However if your savings account is a 365 monthly saver account 7 days notice is required to with draw payment from the account.

    I hope this clarifies things for you and please feel free to get in touch with us if we can help you with anything else.

    Have a nice day. thanks Jen


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