# BOI Closed My Account..(or are about to!)



## GMCK2012 (23 Aug 2011)

I have had a substantial overdraft for the last two years, and I have cleared some debts recently. So next up was to tackle my O/D. The trouble is when I went to check my online account, my account had disappeared.

I have recently been ill from work and in receipt of ill benefit, which went into my bank on Friday. I have checked my account and the social welfare has gone in, but I cannot withdraw funds. My balance is now 1500€ O/D, But now this weekend my salary is going into this account.

I would assume when this is paid in, it will effectively clear my O/D, it now seems the O/D faciltiy has been taken away from my account, can I withdraw funds if my account is in the black again, or is it as good as closed now, as my atm card is still working?

The positive is the O/D is now cleared, the negative is my salary and welfare payments for this month are gone. Has anyone any suggestions on what to do from now on in? 
In addition I have one standing order on this account as well. So if my account is effectively gone, how do I pay a standing order and will all this effect me getting a new account elsewhere???

Thank You


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## Brendan Burgess (23 Aug 2011)

Did you have approval for your overdraft? 

If you had an approved overdraft, it should not be gone. 

If you didn't have approval, then they would be entitled to benefit from any lodgement. 

I presume it's too late to get your employer and social welfare to pay it to some other account?


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## GMCK2012 (23 Aug 2011)

Hello Brendan.

It was approved, it is authorized most certainly. Basically there is 1500€ O/D, about 2 weeks of illness payments gone in, the original overdraft was 2000€, so there should be €500 to withdraw, but the atm tells me insufficent funds. I am puzzled.

Yes, it is too late to get payments sent to a different account. I need them social welfare payments as I have not been working, and I have not had a letter in the last week from my bank to say it was getting closed.


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## Brendan Burgess (23 Aug 2011)

Did you speak to your bank? 

Overdrafts are renewed annually and they may not have renewed it.

You would certainly have a case if you have no money to get the overdraft set back up again with notice to reduce it.

Brendan


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## Gulliver (24 Aug 2011)

I would suggest that you look at a piece of legislation enacted in Ireland in 2009 to bring Ireland in line with the Payment Services Directive EU2007.
It was introduced by way of a Statutory instrument S.I. No. 383/2009 — European Communities (Payment Services) Regulations 2009 enacted in Autumn 2009.
A current account with an overdraft is a payment account within the meaning of the above. Consider it as having two parts - a payment account and an overdraft. The current account is normally for an indefinite period - even if the overdraft is only sanctioned for a finite period.

Article 56 (3) below requires your bank to give 2 months notice before closing a payment account, and only if it is so agreed in your terms and conditions. As I read your post, I see no mention of you having received such notice

Following is the full article. Note that the "framework contract" is your terms and conditions.

_56. (1) A payment service user may terminate a framework contract at any time, unless the parties have agreed on a period of notice. Such a period of notice may not exceed one month._
_(2) A payment service provider shall not impose a charge for the termination of a framework contract concluded for a fixed period exceeding 12 months or for an indefinite period if the contract has been in effect for 12 months or longer. In all other cases any charge for the termination of a framework contract shall be appropriate and in line with the payment service provider’s costs._
_(3) If agreed in the relevant framework contract, a payment service provider may terminate a framework contract concluded for an indefinite period by giving at least two months’ notice._
_(4) If a framework contract is terminated, the payment service provider concerned shall impose charges for payment services that are levied on a regular basis only proportionally up to the termination of the contract. If such charges are paid in advance, the payment service provider shall reimburse the payment service user concerned proportionally for any payment attributable to a time after the termination._
_(5) Nothing in this Regulation affects the operation of any other law rendering a framework contract unenforceable or void._


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## GMCK2012 (24 Aug 2011)

Hi folks, thanks for all the feedback. As far as I am aware My account is still active as such, just the OD service has been withdrawn, I was unaware that many of these have expiry dates as such and the banks can take them away when they please.

Am a tad puzzled as to why my online banking account has literally disappeared yet when I use an ATM it is still there showing the negative minus balance. Again my illness benefit was paid in today and the balance has gone down slightly, so it is active.

When my account goes back in the black, or balanced out will it be possibily then shut??? I know I should pop into the bank which I will do tomorrow, I just want to be sure beforehand of all options and outcomes. 

Thank You.


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## Brendan Burgess (24 Aug 2011)

> When my account goes back in the black, or balanced out will it be possibily then shut???



You say in the first post that it has disappeared. 

There might well be a simple explanation for this. 

it looks as if your overdraft has expired. They well renew it for you, but at a lower amount.

Brendan


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## GMCK2012 (24 Aug 2011)

Hi Brendan, my online 365 has disappeared, just my credit card account exists, I rang 365 and they said that i didnt have '365 online' to contact my branch which I did. Neither could access my account, yet it is still active via an ATM.
Am at a total loss


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