Large queues at Bank of Ireland ATMs this evening.
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0ph0rce0
Would an overdraft not count as credit?
I suspect some of the wasters who last night withdrew €1000 and are now overdrawn by €1000 never use their BOI account at all - this is where the problems arise for BOI in that they may never get that money back.
Those that withdrew €1000 and have regular lodgements going into their BOI account wasted their time last night standing at an ATM in that all they got was an advance of their own money. If they flitter this cash away today they will have no money until they lodge €1000 to that account. They are complete idiots and dont deserve any special treatment. I also suspect some of the clever wasters will today be trying to change their social welfare payments/wages to be lodged to other banks.
You could also say it truly shows how many stupid people there are in this country !
You could also say no law abiding or decent people were queuing up last night !
...so people getting access to money they may not necessarily have, are stupid, how does that work?
People seem to be struggling with lack of very nice TVs judging by what a lot spent the money on last night.
And yep, if they default on an overdraft (A loan) their credit rating will be impacted.
The "I just had to get a few bob out" argument doesn't really wash if you don't have the money in your account to take out in the first place.
There'll be a lot of cash lodgements today the ones that didn't think this through and realize they've got DDs etc
You forgot to say “unauthorised “ access.
It’s stupid because it’s theft.
These days it's wise to have at least two accounts and preferably one Visa and one Master card. So then you're safe from bank or Visa/Master system crash. Eg., BOI (I think they do Visa?) & EBS (Master) or Revolut do Master for some newer cards, I think. Or get a credit card... It would definitely help. I also had to learn from a similar situation myself.
People against the banks…I know who my money is on…pun intended
This shall be entertaining with the people who find out their overdrawn who thought they hit the jackpot.
The CCR records debts of more than €500, including overdrafts.
You really need this explained to you ?
recipients had to use their authorised accounts in order to access this money, i.e. it was authorised, the fcuk up was on boi's side, this type of fcuk ups have occurred around the world, and many humans done the exact same thing, i.e. took the money, this is normal human behavior...
...this isnt theft, its a serious bank fcuk up, and again, dont worry, they ll get it back, and more.....
I'm assuming you're not talking about an Irish bank, because you're not allowed to access a customers credit report unless you have their permission AND they are applying for a credit facility. If the credit facility is more than €2,500 you must consult the CCR. You can't just check it opening a current account.
Also, the CCR doesn't provide a credit score, it provides 2 years worth of data on a monthly basis about the performance of loans, and info such as max arrears amount, max number of months past due going back over the whole history of the loan. It doesn't give you an A1 or an 8 or anything like it. It may tell you one particular loan was 8 payments past due, but that's the only way you will get an 8 out of it.
This will definitely happen yep. AT the very least, most people have a phone plan coming out. Unpaids on DD hit your credit rating also
There'll be a fair few scrotes who'll never interact with the bank again. But also some people who just got carried away in the excitement that spread through whatsapp groups last night and they'll realise they have to give every bit of it back to get their accounts and affairs back to normal. Probably a bit of regret in that cohort today
no, again, this happened around the world, and many humans done the exact same thing, i.e. they took the money, and had to deal with the consequences, as will be the case here, again, boi will get most of this money back, and more, they ll be fine.....
I worked for B of I back in the mid 80s in branch banking. Mistakes were made occasionally by cashiers - too much money given out etc. the systems were such, that even then everything could be traced one way or the other. When a card was used in an ATM the card number was recorded on a tally roll in the machine, as well as the account number and sort code and amount withdrawn. That's nearly 40 years ago now.
All that will happen now is that those who withdrew money they didn't have, will go into unauthorised overdraft, and anything that is credited to that account will just reduce the overdrawn balance and there is very little you can do about it. You could try transferring your payments to another account if you have one somewhere else, but that could take ages so good luck with that.
Funnily enough as someone else said, those who got the "free" money would be beating down the doors of the bank if there was an tenner taken out of their account by mistake. I'm no fan of B of I by the way - never did me too many favours.
Works both ways folks!
That's just a BOI debit card limits. Some people used their Revolut card which has its own limits.
At the end of the day everyone who took advantage of the situation will have a fat -€1000 in their account, and punitive interest if it's not paid back.
They're only stealing from themselves.
EDIT: I see the bank will not charge interest on those who overdrafted.
"In a statement to The Journal, a BOI spokesperson confirmed that “there will be no customer detriment in relation to interest” for customers who withdrew more money than they had in their account without having an overdraft facility in place. "
Unpaids on DDs do not affect your credit rating. It's only concerned with facilities of €500 or more from approved lenders/local authorities. That's it.
Some of them will get to experience what it is like to work and be paid monthly. They better make it last and top up their electricity metres, batch cook the dinners, etc, cos they won’t be seeing a credit balance for another 4 weeks!
Ah right gotcha- so now the question is just how many transfers were they allowed to make to their revolute card?
Yes so see my question above now- just how much money was allowed to be transferred out of BOI and into revolute?
Because many humans done the exact same thing doesn't mean it wasn't stupid. It's stupid to think you could take money you didn't actually have and that would be the end of it
I do hope BOI will get the money back and that those who took what they didn't have STFU when the money runs dry
Imagine the black eyes on the idiots who thought this was “free” money.
Yep I predicted that- I guess that’s based on them returning all the money within an agreed timeframe- that no penalty offer won’t relate to people who don’t engage and work with the bank on resolving their account
Carrot and stick not charging interest
If they did people would be more inclined to walk away from it
Will BOI want that info made public? Their balance sheet will have to account for it though.
That won’t wash.
If you take out far more than usual it will be flagged, and whatever about the banks issue, it’s still the persons responsibility to make sure they only take out what they have.
Opportunism is the wrong word, it’s theft.
If you see a car unlocked with the keys in it and you take it, you can’t blame person who left the keys there for your actions, you’ve still decided to take something you know isn’t yours.
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