# Transferring saved credit union shares (money) to my BOI bank account - will my bank not assume its a loan?



## anntionette (8 Aug 2019)

I was going to transfer a large amount of my savings from my credit union to my boi a/c to then sent to my Revolut card to buy a uk import car, but wont my bank assume its a loan when looking for a mortgage? or Any bank in the near future? or will it not be obvious at all? and will my bank then call me asking where it came from? I got a credit union loan before for a car and i think it went directly to the car company but loooong time ago. Im not sure. Should i call the bank manager and explain its from the CU and for a car or is that being ridiculous? Im sure the bank can see the origin of the deposit which i think is their priority, as long as i dont have to prove its not a loan as im planning on applying for a mortgage also.


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## so-crates (8 Aug 2019)

Firstly, certainly in my case, you can transfer money from your CU account directly to your Revolut account, you don't have to leap-frog it through BOI. I have Revolut set up as a payee on my CU account as it stands.

Secondly, if they do ask, you have clear unequivocal evidence that it is not a loan. I wouldn't bother informing them, but if asked you can provide an answer.

Thirdly, I think all CUs now report credit information to the Central Bank (and the ICB) so if it was a loan it would have shown up there.


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## anntionette (8 Aug 2019)

Wowsers, i didnt know that i could go directly to Revolut account. it makes sense as Revolut is a online bank account. Amazing thank you for helping me today. Super pleased.  Revolut says it has a limit on depositing funds per month tho of 5k. Do you have any experience that they would it refuse any amount above this?


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## so-crates (8 Aug 2019)

I haven't attempted to transfer that much in a month to my Revolut account and I can't find anything on their literature saying there is such a limit. Do you mean the €6000 limit on free transfers to another currency? If you do, what they say is that there is a small charge for sums above that amount, so it isn't really a limit per se. They also say that there are no charges if you upgrade your account.


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## Neek01 (9 Aug 2019)

If you apply for a mortgage you will need to provide your credit union statements anyway so they will see it there.


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