EBS Moneymanager - How to transfer funds

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I've just got sorted with an EBS Moneymanager Account - seems fine for day to day i.e. SO's, DD's, Mastercard Debit, Bill payment and 0.3% interest, but can't seem to find a way to transfer cash to an external account.
Anyone know if this is possible or is it back to draft/cheque and a walk to another bank to lodge?
 
You have to fill ot a Telemandate form which basically is the information of where you want to send it to. Once you do it the first time you can make transfers by phone to that account anytime whithout going into branch.
 
Many thanks for that elcato, that will make the account do everything I need.
 
Yes, I know CiaranT, but its just wages passing through and that's why I needed a way to transfer out to another bank account.
 
I think more people should consider EBS Moneymanager Current A/c as an option compared say to what conditions you need to meet with BOI,AIB and PTSB to have free banking.
 
theresa1 said:
I think more people should consider EBS Moneymanager Current A/c as an option compared say to what conditions you need to meet with BOI,AIB and PTSB to have free banking.
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With most of the EBS branches being closed and operations being merged with AIB, I'm not sure I'd make the move. In all likelihood the EBS products will be discontinued in the long run.
 
Do they still give 0.03% interest? BOI 'carry on' with it's current account is making this account another option to move to rather than Ulster Bank. I would completely rule out AIB, PTSB and NIB. €500 minimum balance as an option to get free transactions look's very good compared to BOI and AIB.
 
Willy Fogg said:
With most of the EBS branches being closed and operations being merged with AIB, I'm not sure I'd make the move. In all likelihood the EBS products will be discontinued in the long run.
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EBS branches are not been closed in the coming round of AIB branch closures.
 
theresa1 said:
Do they still give 0.03% interest? BOI 'carry on' with it's current account is making this account another option to move to rather than Ulster Bank. I would completely rule out AIB, PTSB and NIB. €500 minimum balance as an option to get free transactions look's very good compared to BOI and AIB.
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Yes, but 0.03% is as good as zero.

500.00 EUR min. balance is not an obligatory requirement with EBS ...

Day-to-day banking: €0.30 per ATM withdrawal, €0.30 per branch transaction and free debit card transactions OR free if you comply with the below conditions:
(1) Make no more than 5 ATM or branch withdrawals per month AND
(2) Lodge €1,500 to your EBS MoneyManager Account per month (which may be by way of several small lodgements that add up to €1,500) OR
(2) Maintain a minimum balance of €500 in your EBS MoneyManager Account each and every day of the month.
Fees are calculated on a monthly basis but billed quarterly on the 25th or subsequent business day post the end of the quarter.
Instructions for direct debits/standing orders must be made before 3:30 PM to get next day value date.
Lodgements can only be received in Euro's. Non Euro lodgements will not be automatically converted.
Credit interest rate: 0.03%
Non euro cash withdrawals:1% (minimum €1.91, maximum €6.00) plus the MasterCard exchange rate margin.
Debit Card Type: MasterCard Debit
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Yes I could have been more clear - having €500 would mean no need to lodge €1,500 every month. Both options could work for people wanting to 'escape' from BOI, AIB, PTSB for example.


"You can get your first 5 withdrawals each month (either in-branch or at the ATM) without paying EBS fees if you do one or both of the following:
  • Lodge €1,500 to your account each month (either in one lump sum or as a series of smaller lodgements), and/or;
  • You keep a minimum balance of €500 in your account each month.
Note: Other charges may still apply. No credit interest is payable on this account."
 
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Has anybody switched a current account to EBS Moneymanager from say BOI or AIB recently? I'm still with BOI but considering switching.
 
This week EBS have updated the online functionality of their MoneyManager account. You can now create and save beneficiary details online and transfer money to them. This will eventually replace their old telemandate system.

This is a great step in the right direction for EBS as the longwinded manual process of using telemandates to make transfers to third parties was a major turn off for anyone thinking of opening one of their accounts.

You can add new beneficiaries online. You are then given an activation code. You must ring them with this code to activate the new benificairy. From then on you can just choose the beneficiary online and enter an amount in order to make the transfer.

I have just set-up a couple of beneficiaries and will try some transfers on Monday to see if it works OK.

Note: This service is currently only available for Irish beneficiaries with Irish bank accounts, you cannot transfer funds to foreign accounts. Presumably they will have to add this functionality before February to become SEPA compliant.
 
DMcL1971 - how did you get on with your transfers? I would appreciate any information you have on the MoneyManager account. I'm with BOI and will need to change so PTSB,EBS and maybe hold out for KBC all under consideration.
 
theresa1 said:
DMcL1971 - how did you get on with your transfers? I would appreciate any information you have on the MoneyManager account. I'm with BOI and will need to change so PTSB,EBS and maybe hold out for KBC all under consideration.
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I tried one transfer from EBS to KBC on Monday and it failed.
EBS say that the transfer was rejected by KBC.
KBC say they never rejected it, because they never received it.
So I don't know who is actually to blame.
I have tried sending the same transfer again and will hopefully see tomorrow whether it worked or not.

I tried another transfer today to a PTSB account and will also hopefully see tomorrow if that works. I'll keep you informed.
 
My transfer to KBC failed again.
EBS now say they had a fault with their payment system for the last couple of days but that it is now fixed. They have asked me to try the transfer to KBC again on Monday.
The transfer to PTSB has not completed or been returned yet, so I will have to keep an eye on it.

I'm not impressed but am willing to assume that it is just teething problems with a new system.
 
DMcL1971 said:
My transfer to KBC failed again.
EBS now say they had a fault with their payment system for the last couple of days but that it is now fixed. They have asked me to try the transfer to KBC again on Monday.
The transfer to PTSB has not completed or been returned yet, so I will have to keep an eye on it.

I'm not impressed but am willing to assume that it is just teething problems with a new system.
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The PTSB transfer has now completed. I will try the KBC transfer again on Monday.
 
The transfer from EBS to KBC that I initiated on Monday finally arrived in my KBC account today. The date shown on the transfer was Tuesday.

It appears that last week, transfers from EBS to KBC were failing due to a fualt on the EBS end. Which made all the transfers bounce back to the EBS account even though they were never sent to KBC. This was apparently resolved on Friday. According to KBC they were informed on Monday by EBS/AIB that the issue had been resolved but there was now a two day delay on the files being sent to KBC. That explains why the transfer from Monday had the correct receipt date of Tuesday on it even though it was not received until this morning.

To cut a long story short it appears that the new EBS online transfer system does work, despite a few teething problems.
 
Thanks DMcL1971 - appreciate your posts - EBS is another option for some people in addition to PTSB to move from BOI.
 
Just an update on EBS third party transfers.

Previously EBS only allowed third party transfers to be set up to an Irish bank account. As of yesterday you can now set up a transfer to any SEPA account.

The method is the same as before. You can add new beneficiaries online. You are then given an activation code. You must ring them with this code to activate the new beneficiary. Activation can take up to 24 hours. From then on you can just choose the beneficiary online and enter an amount in order to make the transfer.

I have not tried it yet.
 
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