Large queues at Bank of Ireland ATMs this evening.
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0ph0rce0
Court battles etc yeah. Not a couple of grand for a telly. They'll get all this back.
Plenty do and get away with it
There are people live their life on 'free' money from the state. In their mind this was no different.
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.
They'll recover every penny and then some. You don't **** about with banks.
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.
I still struggle to understand how so many people really thought that they were getting free money. Unbelievable.
Haha what a bunch of morons.
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.
What happened here in the end? Were accounts overdrawn?
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.
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.
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.
For their little angles.
Thinking the same myself. BOI arent gona let this slide.
Even if they sell a list of these people on at 500 euro per head to debt collectors.
Eventually it will happen for those that don't pay up.
That's exactly it. These people, especially the can't-pay-won't-pay brigade are going to face consequences of some nature. There are other consequences than having to pay back the money. Lending and debt collecion is part and parcel of the banking business, the banks have centuries of experience doing this and won't be fazed by this. The banks will pursue them and if they won't engage with the banks they could go down the legal route, or potentially sell the debt to debt collectors who specialise in chasing after people like this. If the banks go down the legal route criminal charges might be forthcoming, it probably wouldn't be difficult to prove criminal intent. This happened recently with Ulster Bank.
If this is recorded against their credit history then those people will find it very difficult to access credit again from an Irish financial institution. And you know, people that don't have a lot of money are generally the people that need to borrow it the most. Which means their only options are those pay-day loan shark businesses who charge very high interest rates and are not as polite as banks when recovering debts.
The only people that might get away without any consequences from this are people who leave the juristiction with no intention of ever coming back.
There would be a credit check and the previous account in arrears would show up. You'd essentially need a new identity/PPS and avoid the banking system ever after (and if caught face arrears and/or charges). For a few social welfare payments it's really not going to be worth it to anyone bar a few idiots who try and grifters who take further advantage of them.
Anyone with a job will be earning more than what could be taken out and be out of arrears very quickly.
Already posted above if you click into the tiktok
I’ve already seen a TikTok from a “financial advisor” who was contacted by a woman who realised that her payments wouldn’t be withdrawable. The bank refused her a payment plan. Her advice was that anything you bought with the money you sell or return and get your account back in the black asap 🤣🤣🤣🤣🤣🤣 The amount of comments blaming the bank was mind-numbing.
And the ones who get sw payment into a bank ?
How do you think that will play out ?
They won't all have been able to transition to a po payment
Just a note on this. Someone who worked in a bank has already posted that people on SW can access credit. All depends on your capacity to repay based on incoming v outgoing payments Id imagine.
Yes, i still expect the social welfare brigade wont go without their handouts and they wont be on payment plans either.
The ones that will have to face consequences are the ones that have a job.
Your original prediction was that no way would sw recipients be allowed to go without money
It'll probably pan out that way but most likely as the banks see repayment deals as the best way to recoup funds
Nobody gives a fukk about temporary hardship this causes them
Yes, but if youre no income, social welfare only, it doesnt matter because nobody is giving you credit anyway. Thats my point.
Those that have the capacity will pay, but those on no income bar social welfare, no way.
will be interesting to hear the stores as the handouts fall due next week :)
All true, but they still wont need to pay it back and can get money routed via the post office if they cant get a bank account.
racking up debts its irelevant if you cant pay it back. look at the tens of millions of euro in social welfare rent arrears, and thats just Dublin City Council.
i imagine there are rules stopping banks refusing social welfare tenants opening accounts anyway, but I dont know that.
😂
Must remember this. Excellent.
If you ever find yourself getting a hiding from some scrote, be sure to pass on your best wishes on their mental health difficulties. Then when you fall to the ground and you're getting your head kicked in, remember to repeat your best wishes. That'll stop the attack.
That's how stupid some people were , a lot of them young which partly explains it
I heard first hand of young people rushing out of work to get money from the ATM
Doubt they even thought the consequences through
Of course there was the cohort who knew what they were doing and get to keep the money cos banks and credit rating etc don't matter to them
Cant get my head round this. I half think its some kind of fake viral nonsense off the back of it.
Surely If you were actually going to do this then the first thing to do is divert your income somewhere else or the bank will take it?
I know others predicted this but I didnt think we'd actually see it. I find this really unbelievable.
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