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Mortgage Saver Withdrawal Timelines

  • 13-10-2019 8:42pm
    #1
    tomister
    Registered Users, Registered Users 2 Posts: 271 ✭✭


    Hi there, 
    I went to move money from my Mortgage Saver account in order to transfer the remainder of the deposit to the solicitor on Friday. After going through the process no money appeared in the account and shortly afterwards I received a text stating that my withdrawal will be available in my account after 10pm on Monday.

    When I reviewed the customer information sheet for the Mortgage Saver account prior to opening it stated (and still states) that you have instant access to your money. Customer Information Sheet available here: Customer Information Sheet

    I am unable to understand how COB the next working day is instant access. Surely the customer should be informed of the withdrawal timelines correctly.
    I am meeting my solicitor on Monday to sign contracts and now do not have the funds available to do so. 

    How can I get access to my funds instantly on Monday as is clearly stated on the Customer Information Sheet?
    Thanks
     


Comments

  • #2
    Bank of Ireland: Aisling
    Closed Accounts Posts: 487 ✭✭Bank of Ireland: Aisling


    Hi Tomister,

    Thanks for getting in touch with us here on Boards.

    You can certainly access your funds instantly at any of our Cash Service Bank of Ireland Branches, so long as you have photo ID with you. You can withdraw cash up to €5,000.00, or you can buy a Bank Draft for any amount over this. I have attached a link to our Branch Locator here, this can be used to find a cash service branch most convenient to you.

    If request online or over the phone the funds will be transferred in to your current account the next working day. I completely understand your frustration on this and I will certainly pass this on as feedback on your behalf.

    I hope this helps.

    Thanks, Aisling.


  • #3
    tomister
    Registered Users, Registered Users 2 Posts: 271 ✭✭tomister


    Bank of Ireland: Aisling wrote: »
    Hi Tomister,

    Thanks for getting in touch with us here on Boards.

    You can certainly access your funds instantly at any of our Cash Service Bank of Ireland Branches, so long as you have photo ID with you. You can withdraw cash up to €5,000.00, or you can buy a Bank Draft for any amount over this. I have attached a link to our Branch Locator here, this can be used to find a cash service branch most convenient to you.

    If request online or over the phone the funds will be transferred in to your current account the next working day. I completely understand your frustration on this and I will certainly pass this on as feedback on your behalf.

    I hope this helps.

    Thanks, Aisling.
    Hi Aisling,

    Thanks for the reply. Where is it stated that it is only instant access in the branch and that it is next working day online? This has caused unnecessary stress this weekend as I was signing my contracts this morning. The funds have still not appeared in my account but luckily my solicitor is very understanding and is ok with it going in this evening.
    Had I known it was instant access only in the branch I could have not put through the withdrawal request online and could have completed the transaction in branch. Also I'm assuming I would have had to go to a cash desk which are few and far between these days. If you want people to move to cashless and online why are you sending people back to the bank for these types of queries?

    Thanks


  • #4
    Bank of Ireland: Aisling
    Closed Accounts Posts: 487 ✭✭Bank of Ireland: Aisling


    Thanks for getting back to us here.

    I have attached a link here that specifies that the funds can be accessed instantly at one of our Branches with photo ID.

    I can see how this could be misleading, and I will certainly raise this with our Deposits Team. I'm sorry for an inconvenience this may have caused.

    If you wish, you can also raise a formal complaint with us by clicking here to our Complaints and Feedback process.

    Thanks, Aisling.


  • #5
    tomister
    Registered Users, Registered Users 2 Posts: 271 ✭✭tomister


    Bank of Ireland: Aisling wrote: »
    Thanks for getting back to us here.

    I have attached a link here that specifies that the funds can be accessed instantly at one of our Branches with photo ID.  

    I can see how this could be misleading, and I will certainly raise this with our Deposits Team. I'm sorry for an inconvenience this may have caused.

    If you wish, you can also raise a formal complaint with us by clicking here to our Complaints and Feedback process.

    Thanks, Aisling.
    Thanks for the information. This does contradict what is stated on the customer information sheet I shared earlier. I would appreciate that this is raised with the deposits team and I will be raising a formal complaint.
    Thanks very much for coming back to me here - I appreciate the information and you have been very helpful


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