# Update on Credit Unions Offering Debit Cards



## Lightning (1 Apr 2014)

Charlie Weston, in the Indo, has an update on credit unions offering debit cards and offering electronic payments. 

*60 credit unions to offer electronic payments by September*



> Credit unions in Malahide, Co Dublin; Clara, Co Offaly; Rathfarnham, Co Dublin; Carrickmacross, Co Monaghan; and New Ross, Co Wexford, are up and running with the new system.
> 
> CUSOP boss Kevin O'Donovan said the electronic payments infrastructure would also be rolled out next month in credit unions in Letterkenny, Co Donegal; Portlaoise, Co Laois; Oldcastle, Co Meath; Baldoyle and Portmarnock in Dublin; and Dundalk's Cuchullain.
> 
> ...



*Debit cards to launch in 2015, subject to CBI approval*

No word on fees, hard to see credit unions price matching PTSB or even service matching PTSB.


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## Bronte (1 Apr 2014)

Is there any list of the 60 credit unions.  I cannot wait to move from my bank.  But I'd need international transfer options as well.


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## Lightning (2 Apr 2014)

Bronte said:


> Is there any list of the 60 credit unions.  I cannot wait to move from my bank.  But I'd need international transfer options as well.



No list as the 60 CU's are not live yet. Also, the debit card option is not be live until 2015. 

You may be eager to switch but you will find that the level of service is not the same as a bank. Also, I would be shocked if any CU price matches PTSB.


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## Bronte (2 Apr 2014)

CiaranT said:


> You may be eager to switch but you will find that the level of service is not the same as a bank. Also, I would be shocked if any CU price matches PTSB.


 

You mean the level of service as in options.  I would be willing to pay more for dealing with human beings instead of call centers and what passes for customer service in my bank.


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## RainyDay (2 Apr 2014)

Bronte said:


> But I'd need international transfer options as well.


My CU online banking (the Wellington system, used by many CUs) has international transfer options, to any IBAN number.


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## Lightning (2 Apr 2014)

RainyDay said:


> My CU online banking (the Wellington system, used by many CUs) has international transfer options, to any IBAN number.



Interesting. IBAN's only? So they do not offer US wire transfers?


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## WizardDr (3 Apr 2014)

The Government should sell or give a copy of PTSB systems to Credit Unions.

1. We own the PTSB
2. Credit Unions would have systems that work
3. In then to internet banking; debit cards; credit cards etc etc

er without catastrophic failure which is a hallmark of large scale developments


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## RainyDay (3 Apr 2014)

CiaranT said:


> Interesting. IBAN's only? So they do not offer US wire transfers?


I might have been sloppy in my terminology. On screen, it says;

"International/SEPA Payment"
 and asks me to enter;
Payee Name
Bank Account Name
Payment Ref
IBAN
BIC

Does that help you to see if US transfers are included?



WizardDr said:


> The Government should sell or give a copy of PTSB systems to Credit Unions.
> 
> 1. We own the PTSB
> 2. Credit Unions would have systems that work
> ...



Interesting suggestion. It would depend on whether PTSB own their own in-house systems and have rights to give it away, or use licensed 3rd party software, where they would be unlikely to have rights to give it away, or possibly even to provide a bureau-type service.

However, while we do own PTSB, we (the State) don't own the CU movement. Yes, CUs are technically member owned, but members have really no control. There are no particular provisions in law about members running for Director posts, as was the case with the Building Societies (remember them?). Should the State be intervening to support a community movement like the CUs?


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## Lightning (3 Apr 2014)

RainyDay said:


> I might have been sloppy in my terminology. On screen, it says;
> 
> "International/SEPA Payment"
> and asks me to enter;
> ...



You cannot do a US transfer with the above fields. US transfers do not have IBAN's. US transfers have an ABA code and 2 sets of bank details for both the clearing bank and the final bank.


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## WizardDr (4 Apr 2014)

Well the State has intervened and in a very direct manner.

The essential question though is what is the evidence for their actions through their enforcer, the Central Bank. Their attitude  is that they have 395 independent companies managed by incompetent older fools.

However - name one bank that survived apart from Post Office Savings Bank?

Name all the Credit Unions that have failed.

No marks for Newbridge or Howth.

Is it 100?

Is it 50?

Is it 25?

Is it 10?

Er - we don't know do we. 

There are structures where we could:

- bring in shares that are risk capital and  real owners
- bring in Debentures that could be risk capital.

Fundamentally we have a Central Bank who simply want less of these to manage. They have no interest in sponsoring their future what so ever. They know full well that large scale IT projects are not in the competence specialties of Credit Unions. Mind you the State is equally incompetent - but that is another story.


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