www.howbankingworks.ie by Bankhawk Banking Solutions.

[ajapale]

What do aam'ers think of this new website by Bankhawk Banking Solutions?

for [broken link removed].

 

[GeneralZod]

As a test I looked up what it had to say on the debate about how to cross a cheque properly.

Crossing a cheque[broken link removed]​

As mentioned above, the negotiability of a cheque has been progressively reduced in recent years. Crossing a cheque further reduces negotiability. Legally, it's a bit complex. If an uncrossed cheque issued by Mr A is payable to Mr B, and he endorses it and gives it to you, and the cheque later bounces, then you can seek payment from either Mr A or Mr B. If the cheque was crossed, your rights here would be less, depending upon the precise nature of the crossing. Our advice: don't cash a crossed cheque; and definitely don't cash a cheque with a further limiting crossing e.g. a cheque crossed with the words "account payee only".​

An interesting morsel of information but not the definitive answer I was hoping for.

 

[RainyDay]

WOuldn't it be nice if they had a discussion forum linked to each section for asking questions or pointing out gaps (like the example above). Their 'direct debit' section is interesting, but doesn't mention the downsides for consumers of DDs to credit card accounts (i.e. like herpes, you'll never clear it up completely).

 

[Gulliver]

but doesn't mention the downsides for consumers of DDs to credit card accounts (i.e. like herpes, you'll never clear it up completely).

Don't quite understand the piece about credit cards, RainyDay; Are u talking about a DD to automatically clear the credit card each month? Or are u talking about arrangements of a few organisations E.g. ESB) to do a DD-like transaction on your credit card?

 

[RainyDay]

Don't quite understand the piece about credit cards, RainyDay; Are u talking about a DD to automatically clear the credit card each month? Or are u talking about arrangements of a few organisations E.g. ESB) to do a DD-like transaction on your credit card?

The latter - Utilities like ESB/Eircom/Bord Gais which will bill directly to your credit card by DD.

 

[Gulliver]

Rainy - There is a world of difference between Direct Debit and the informal arrangements by which utilities present recurring transactions to your credit card.

Direct Debit is a formal scheme with rules, guarantees, procedures, vetting of originators, etc., and applies only to current account transactions. The scheme is managed by IRECC, the clearing system for electronic transactions, and the rules are published on .

So-called Direct Debits to Credit card accounts have developed informally, without rules, guarantees, etc. Such arrangements are created and managed solely by the individual utilities themselves. Of course, the transactions arising are subject to the normal rules for "cardholder-not-present" credit card transactions.