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can I make a wages payment to a savings account

  • 23-10-2020 2:55pm
    #1
    mbt
    Registered Users, Registered Users 2 Posts: 2 ✭


    We pay our employees every week by electronic using the boi-bol site.  We have a new employee who has provided us with Bank of Ireland savings account details.  Everyone else has a current account.  Can we pay her wages to a savings account or will she have to have a current account


Comments

  • #2
    beachhead
    Registered Users, Registered Users 2 Posts: 2,987 ✭✭✭beachhead


    The bank can answer this when they know the type of account.Maybe your employee can verify with their bank branch


  • #3
    Bank of Ireland Reps
    Closed Accounts Posts: 1,293 ✭✭✭Bank of Ireland Reps


    mbt wrote: »
    We pay our employees every week by electronic using the boi-bol site.  We have a new employee who has provided us with Bank of Ireland savings account details.  Everyone else has a current account.  Can we pay her wages to a savings account or will she have to have a current account
    Hi there, thanks for getting in touch with us here on Boards.ie. 

    Generally with BOI savings accounts you’d save into them by direct debit payment rather than by transferring into the account. 

    Wages would generally be paid into a current account as you wouldn’t be able to make additional online transfers to a savings account. 

    I hope this information helps. If you’ve any further queries please don’t hesitate to get back in touch with us here, we’ll certainly do our best to help. 

    Thanks, Eve 


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