Narrative on Bank Transfers

ballooba

Hi,

I am collecting money for a dinner for 70 ppl. I am suggesting that the sixteen who are paying, transfer the mney to me via 24 hour banking. I know them all and pretty much trust them.

Anyway, can you always put a narrative on the transfer i.e. the note which appears on my statement to tell me where it came from? Or is this only for AIB->AIB transfers?

Spocker

Yes, you can - it works between all banks/institutions that accept transfers (like Credit Unions etc)

ballooba

Thanks.

RainyDay

Not all Internet banking systems give you the option of entering a free-format text string, so it might depend on what system they are using. Also, some Internet banking services seem to restrict 3rd party payments to known billers (e.g. O2, NTL, Bord Gais etc) and may not allow them to set up a transfer to your account. To be honest, with just 16 people, I'd suggest you go for the 'manual' solution of just getting them to send cheques to you.

ballooba

Yeah, but for those who can do it I'd like them to have the option. Anyone with AIB 24hr can do it. Most ppl are with AIB anyway? BOI second place?

Spocker

I'm with AIB (so I don't know BOI) but when transferring money over the phone you just ask the nice lady/gentleman to put the narrative down for you, though to be fair they always offer, suggesting your name as the reference.

Assuming most people don't have you in their mandated accounts list already, they'll have to use the phone method anyways.

Good luck, hope you get all the money ....

BrianD

Usually the name of the person will come up. Will that be enough?

ballooba

yeah, that's just as good.