Current Account & Mortgage Account

Smee_Again

Hello, 

I have a BOI mortgage and available of the 2% cashback at drawdown and am due to get an additional 1% after 5 years. 

I also have a current account with BOI that I don't use, can I close this account and reopen one closer to the 5 year anniversary and still get the 1% cashback?

Bank of Ireland Reps

Hi Smme_Again

Thanks for checking your cashback query with us.

We are going to look further into this and will be back to you asap.

Many thanks,
Alison

Smee_Again

Bank of Ireland Reps wrote: »

Hi Smme_Again

Thanks for checking your cashback query with us.

We are going to look further into this and will be back to you asap.

Many thanks,
Alison

Thanks Alison

I remember at the time the 1% was contingent on having a BOI current account at the 5 year anniversary and I don't remember it being said that I had to keep the account open along the mortgage so it'd be good to know for definite now. 

Bank of Ireland Reps

Smee_Again wrote: »

Bank of Ireland Reps wrote: »

Hi Smme_Again

Thanks for checking your cashback query with us.

We are going to look further into this and will be back to you asap.

Many thanks,
Alison

Thanks Alison

I remember at the time the 1% was contingent on having a BOI current account at the 5 year anniversary and I don't remember it being said that I had to keep the account open along the mortgage so it'd be good to know for definite now. 

Hi Smee_Again

Just coming back to you on this. 

We have checked in with our Product Team and have been advised in relation to the 1% cashback on the 5th anniversary, once you held a current account with us at the time of your application you are eligible for the payment within 45 days of the 5th anniversary of your mortgage drawdown provided that: 

Mortgage account is still open on that date
All scheduled payments have been made (If an agreed moratorium was taken this will not affect entitlement)
You continue to reside in the property as your main residence. 

Hoping the above info helps,
Alison

FGR

Hi Alison.

Apologies for reviving an old thread but my question relates to exactly this.

If I no longer have a current account with BOI by the 5th year anniversary but have one with another bank - and if I meet all the requirements that allow me to draw down the remaining 1% - what is the process for receiving same? Will BOI notify me and I provide my account details for lodgement or will I contact BOI?

Thank you in advance.

Bank of Ireland: Aisling

Hi FGR,

Thanks for getting in touch with us here on Boards.ie.

You should receive correspondence from our Mortgage Team about this closer to the time. If the time is approaching, you can certainly link in with our Mortgage Specialists directly on 01 611 33 33. One of my colleagues will be more than happy to discuss this further with you. They are available Monday to Friday 9am-5pm.

Thanks, Aisling