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bank of ireland query - interest appeared on statement

04-10-2011 12:18PM

#1

j4vier

Registered Users, Registered Users 2 Posts: 1,893 ✭✭✭

Join Date: April 2005

Posts: 1612

hi

just saw my account has been debited with 2.54 under the line 'interest'

i ve never seen this before so what exactly does this mean?

0

Comments

#2 04-10-2011 02:12PM

tenchi-fan

Closed Accounts Posts: 3,339 ✭✭✭

Join Date: September 2005

Posts: 3240

j4vier wrote: »

hi

just saw my account has been debited with 2.54 under the line 'interest'

i ve never seen this before so what exactly does this mean?

It means your account was overdrawn at some stage.

Interest is a charge based on the amount you were overdrawn. It is a percentage, e.g. an overdraft rate of 18% per year.

0
#3 05-10-2011 04:35PM

squrm

Registered Users, Registered Users 2 Posts: 181 ✭✭

Join Date: January 2005

Posts: 173

tenchi-fan wrote: »

It means your account was overdrawn at some stage.

Interest is a charge based on the amount you were overdrawn. It is a percentage, e.g. an overdraft rate of 18% per year.

I have the same charge but at no stage was the account overdrawn?

0