Bank of Ireland Chaos

Purple Mountain · 20-08-2023 9:23pm

https://www.boards.ie/discussion/comment/121002907#Comment_121002907

For their little angles.

left_hander · 21-08-2023 4:45pm

There is zero hope of the bank selling this debt on. Whatever hope they have of getting x out of them for y weeks, there is zero hope of a debt collector getting anything from them. In fact, I'd say even debt collectors will steer clear of this one.

As I said in post #719, I worked in a bank for a good few years and SW people are prolific borrowers and pay back x over y weeks until the next holy communion / santa presents / back to school / etc. Its not even a case of affordability, the income in to some SW peoples pockets was eye-watering to me as a very moderately paid bank official. I was left wondering if I was the idiot when I saw the benefits and entitlements of some of these people. This is inter-generational now as kids have the same sense of "I'm entitled to" as their parents had. It begged the question what the f are they spending it on that they need a loan and to pay loan interest and honestly, at times it reminded me of Homer Simpson having his repayments explained to him and his only response to the balloon payment was "that's not for a while, yeah?"

They just don't get it. The banks they seemingly loathe if social media is to be believed make lots of money off their stupidity because they don't think for more than 3 seconds about their needs and the associated costs. If young Sharon needs the best white dress at the Holy Communion and the party, that's what she'll get.

And all these clowns have done is shot themselves in the foot because they'll end up borrowing from loan sharks because their credit rating will be shot. And then they victim hood will start.

I think they've had the "drunk night out" stage for the last few days - great craic altogether, let the "hangover" begin. Reality is starting to dawn on these idiots that there's no such thing as "free munny" and if you do take the bank up on their generosity, if you don't want to pay it back you better have plan B for how to keep that munny and it better involve avoiding dealing with a bank again.

howiya · 21-08-2023 5:07pm

https://www.boards.ie/discussion/comment/121004108#Comment_121004108

A credit check can only be done in tandem with an application for credit and with your consent i.e. its part of the application form for whatever loan you apply for.

There is no such thing as a credit check associated with the opening of a new current account.

Tow · 21-08-2023 5:20pm

It has been pointed out in another forum, who confirmed it with the central bank. That customers need to have a credit agreement with the bank for a loan to be reported. Accounts which have no authorised overdraft which just 'happened' to become overdrawn are not reportable.

CapriciousOne · 25-08-2023 1:14pm

What happened here in the end? Were accounts overdrawn?

jj880 · 27-09-2023 9:42pm

https://www.thejournal.ie/bank-of-ireland-atm-glitch-6180317-Sep2023/

BANK OF IRELAND (BOI) customers who withdrew more money than they had available the night of the ATM ‘glitch’ will have six months to repay the bank before fees or interest kick in.

The bank said today that it has written to every impacted customer and has asked them to reach out to it. BOI has not disclosed how many customers this involves.

Impacted customers who went into an “unauthorised overdraft” have been given an interest-free temporary overdraft for 90 days.

Following this, if a customer has still not repaid the outstanding amount, they will be placed on an interest-free loan for a further 90 days.

The bank has told The Journal that there are no fees for these temporary overdrafts and loans.

Didn't think they'd be letting this go easily.

The Nal · 28-09-2023 9:36am

Haha what a bunch of morons.

blanch152 · 28-09-2023 9:42am

https://www.boards.ie/discussion/comment/121167792#Comment_121167792

I still struggle to understand how so many people really thought that they were getting free money. Unbelievable.

AndyBoBandy · 28-09-2023 9:43am

I’d say they’ll do well to recover 10% of what was taken in the above scenario….

the other 90%, not a hope in hell.

The Nal · 28-09-2023 9:58am

https://www.boards.ie/discussion/comment/121167814#Comment_121167814

They'll recover every penny and then some. You don't **** about with banks.

jj880 · 28-09-2023 10:06am

https://www.boards.ie/discussion/comment/121167870#Comment_121167870

Yip. I was thinking 6 months without penalty when it happened then they will get the money 1 way or another. Cant allow a precedent like this. Not a chance.

Tow · 28-09-2023 10:15am

https://www.boards.ie/discussion/comment/121167810#Comment_121167810

There are people live their life on 'free' money from the state. In their mind this was no different.

kirk. · 28-09-2023 10:50am

https://www.boards.ie/discussion/comment/121167870#Comment_121167870

Plenty do and get away with it

The Nal · 28-09-2023 10:58am

https://www.boards.ie/discussion/comment/121168023#Comment_121168023

Court battles etc yeah. Not a couple of grand for a telly. They'll get all this back.

kirk. · 01-10-2023 10:20am

https://www.boards.ie/discussion/comment/121168069#Comment_121168069

They dont go to court all the time I know this for a fact

Galwayguy35 · 01-10-2023 1:46pm

https://www.boards.ie/discussion/comment/121166696#Comment_121166696

Don't see why they should let it go.

I had a credit card bill which I forgot to pay on time and got hit with extra interest on it, I didn't like it but it was my f up and not the banks fault.

It was gas to see the hard lefters suggesting the bank should just do nothing because these idiots thought the ATM was giving them free money.

jj880 · 01-10-2023 2:49pm

https://www.boards.ie/discussion/comment/121180777#Comment_121180777

Agreed. So what if its a glitch or even a banking error? Doesn't hold much weight here imo. From a legal standpoint if BOI dont recover these funds where does anyone stand with not paying an overdraft?

I think BOI will chase every one of these cases down.

AndyBoBandy · 02-10-2023 8:39am

https://www.boards.ie/discussion/comment/121180999#Comment_121180999

The problem is though there will come a point where the cost to BoI of trying to recover cash from someone will far outweigh what that person actually owes, and they’ll most likely just write it off..

Remember they aren’t dealing with law abiding citizens here… it’ll be mostly professional scroungers who will simply not give a toss, no matter how many letters they receive….

kirk. · 02-10-2023 8:53am

There's not a hope of them getting most of this money back

The banks don't chase everyone to court , that's a myth , plenty walk away from debt

Jim2007 · 02-10-2023 8:54am

https://www.boards.ie/discussion/comment/121183582#Comment_121183582

The cost of collection is pretty much zero at this stage. The write off will trigger a CCR reporting event and the debt will remain on the client's CCR report until such time as the debt is settled so unless the client will never need credit facilities anywhere in the EU for the rest of their live, they will eventually have to go back and settle the debt plus penalties, interest and all the rest of that jazz. And the statute of limitations has no impact as it is just a defence in court and does not trump the EU directive or related Irish law. It's also pretty easy to factor this debt as it is only a matter of time before the debtor needs to sort it out.

Tow · 02-10-2023 8:59am

https://www.boards.ie/discussion/comment/121183632#Comment_121183632

It was reported earlier in the thread that as the dept is not authorised by the bank it is not reportable. How true this is, i don't know.

kirk. · 02-10-2023 9:08am

Is it even a debt I thought it was an overdraft

Haven't been following it, anyone that was working and did this was an idiot

G_R · 02-10-2023 9:26am

https://www.boards.ie/discussion/comment/121183670#Comment_121183670

An authorised overdraft absolutely is, and will absolutely be reported to the CCR.

An unauthorised OD is (iny opinion) a bit more tricky.

But, what BOI has some by giving them an OD facility to cover it and then withdrawing it in a few months if it's not paid will probably cover that and catch them in the net.