# BOI to RABO transfer problem - why?



## Mr Magoo (13 Sep 2007)

went into a university branch of bank of ireland to transfer money from my bank of ireland account to my rabo account. they said they didn't have access to that (rabo's) sort code and couldn't do it.

surely this should be possible? or can only the main branches do it?


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## RaboDirect (13 Sep 2007)

Sounds quite bizarre. There should be no reason preventing the transfer. BNP are RaboDirect's clearing bank and our sort code 99-02-60 is recognised in the clearing system. 

You can also use the Rabo Money Mover facility to transfer funds into your RaboDirect account [broken link removed]. This removes the need to deal with your primary bank, ie, no need to go to a branch or use their internet or phone banking services to transfer funds into RaboDirect. 

RaboDirect


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## Mr Magoo (13 Sep 2007)

Thanks - yes 990260 is what I used, I had the original letter  from rabodirect with me so I'm not sure what the problem is. I'ts an ex-SSIA a/c but that shouln't matter.
I do have money mover set up but on a different account in a different BOI branch so I'll just transfer it to that a/c/branch first.


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## RaboDirect (13 Sep 2007)

Mr Magoo said:


> Thanks - yes 990260 is what I used, I had the original letter  from rabodirect with me so I'm not sure what the problem is. I'ts an ex-SSIA a/c but that shouln't matter.
> I do have money mover set up but on a different account in a different BOI branch so I'll just transfer it to that a/c/branch first.



OK. Please let us know if you encounter any problems.


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## Mr Magoo (18 Sep 2007)

Called BOI 365 and asked to add a rabo deposit a/c to be added as a beneficiary.
Got a letter in the post to say it would be set up. Took approx 5 days and it's working now. Now I can transfer from a boi current a/c or deposit a/c (no transacion fees with the deposit a/c)

you get the following message when doing a transfer:

Please note that a daily transaction limit of €20,000 currently applies. Payments are 
processed Monday to Friday, excluding Bank Holidays.

If any payment, or combination of payments, exceeds the daily transaction limit, or available
funds, the payment(s) exceeding these limits will not be processed. 

Where payments are requested on, or scheduled for a Saturday, Sunday or Bank Holiday,
these payments will be processed on the next working day and will be subject to the daily
limit.

                Please note that your balance may not update immediately.


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## Perplexed (18 Sep 2007)

The only way to transfer to a different bank is if you have a pre-printed lodgement docket. Did Rabo supply one of these ?

I think all high street banks came to this agreement about 5yrs ago. Certainly BOI haven't done handwritten transfers in a  long time. There is a same day transfer service for substantial amounts of cash normally done for the like of house sales etc.

Out of curiosity Mr Magoo, if the funds are from a BOI SSIA why would you move more than €20k into Rabo where the amount over €10k will earn a return of 3.75% when at the moment it is earning 4% ?


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## Mr Magoo (20 Sep 2007)

Perplexed said:


> The only way to transfer to a different bank is if you have a pre-printed lodgement docket. Did Rabo supply one of these ?


No they didnt', no need. I't's set up on the BOI side. Also on NIB online I set up my own payee (instantly) to be my rabo a/c and that worked no problem either




Perplexed said:


> Out of curiosity Mr Magoo, if the funds are from a BOI SSIA why would you move more than €20k into Rabo where the amount over €10k will earn a return of 3.75% when at the moment it is earning 4% ?


I don't think I mentioned how much I was tranferring(the 20k mentioned in my previous message was a condition the bank printed out) but for e.g. if you have a spouse and 1 child then you can have 4 Rabo accounts (self, spouse, joint self/spouse, child). So that's 40k at 5%.


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## Perplexed (20 Sep 2007)

Sorry, I should have been more specific. The only way you can do a *paper*  transfer in a branch is with a preprinted slip.
It's always possible to transfer online once you have the recipient a/c registered.
Ah, but the spouse a/c is your spouses & not yours, as is half the joint a/c.
I presume your child is under 7......otherwise that should belong to him/her too. 
You can't have €40k on 5% in your own sole name.....it's not quite the same thing !


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## Mr Magoo (21 Sep 2007)

Perplexed said:


> Ah, but the spouse a/c is your spouses & not yours, as is half the joint a/c.
> I presume your child is under 7......otherwise that should belong to him/her too.
> You can't have €40k on 5% in your own sole name.....it's not quite the same thing !


yes technically 30k of it woulnd't be yours. Just hide the digipasses - problem solved!!


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