Can AIB see my savings in Boi

B

barepockets

Registered User
Messages
4
Hi,

I'm currently dealing with ACC, - got go ahead to sell 4 sites and they want a Sworn statement of affairs and want me to sign dev of confidentiality

AIB - I'm hoping they will give go ahead to sell shortly

Question. I have some savings in a current account in BOI ireland and Ulster bank in north which ACC or AIB dont know about

Should I tell them or can they see it anyway. My friend is telling me to put it into prize bonds.
 
Banks have no visibility on any accounts held in other unconnected institutions but of course you are proposing not to show these on a sworn statement of means, your choice, you are swearing it.
 
Remember this is a public forum and ACC may be reading this-are you identifable by what you wrote? (selling 4 sites, has business with AIB, who like that have we requested a statement of means from)...narrows it down a lot.
What if they reject your statement of means and block sale of property etc?
 
While banks are not able to see what monies are on deposit in other banks, they could simply pick up the phone to a former colleague in Bank of Ireland. give your name and DOB and hey presto.
Bankers move around to other Banks on a regular basis
They can't state that they know you have savings, but they know it and could follow you for it by squeezing you.
I would take it out of the bank for a few months at least
 
Commercial said:
While banks are not able to see what monies are on deposit in other banks, they could simply pick up the phone to a former colleague in Bank of Ireland. give your name and DOB and hey presto.
Bankers move around to other Banks on a regular basis
They can't state that they know you have savings, but they know it and could follow you for it by squeezing you.
I would take it out of the bank for a few months at least
Click to expand...

Ideal speculation! First of all bank staff have very limited access to client information, they are restricted to their assigned customers - an individual, a team, a section, a branch and so on. And secondly every access to client information is logged and any unusual patterns flagged up to legal and compliance officers for investigation. Finally unless the person is involved in either wealthy management or investment banking, they rearily switch banks, but may from time to time move to a different branch or roll.

So the idea of bank staff randomly looking up client details for their mates is extremely unlikely and more than their job is worth.
 
Hi Jim. I have worked in a bank in Ireland and none of the information was limited to the relationship manager. I have also been into the offices of a large bank in Ireland who could look up clients there and then once I gave them the name and DOB.
So it is indeed not speculation!!

I know of many bankers who have moved within the last 12 months from one bank to another and they were all involved in lending or debt restructuring.

I have first hand experience of them looking up clients randomly
 
barepockets said:
Hi,

I'm currently dealing with ACC, - got go ahead to sell 4 sites and they want a Sworn statement of affairs and want me to sign dev of confidentiality

AIB - I'm hoping they will give go ahead to sell shortly

Question. I have some savings in a current account in BOI ireland and Ulster bank in north which ACC or AIB dont know about

Should I tell them or can they see it anyway. My friend is telling me to put it into prize bonds.
Click to expand...

Well first of all a bank des not have acces to your account information at another bank, but that does not mean that they can't find out about it.

For instance every transfer back and forth between banks carries the full details of each account involved, so if you ever made a transfer between the two banks they'd know of the existence of the account, but not the details.

An unusual series of transactions or a single large transaction might lead them to conclude that you were stashing some of your cash elsewhere. Or a review of your live style as opposed to your banking transactions might suggest to them that they are not seeing the full picture.

So in conclusion while they don't have access to your details at other banks, it is certainly possible for them to become aware that you are not being entirely upfront with them. And in any court proceedings they could be motivated to seek on order for discovery. Needless to say having provided false information under oath would put you at a disadvantage in such proceedings.
 
I fully agree with Commercial's experiences as related on here. When I was first on AAM I mentioned something that had happened between my parents who banked respectively with AIB and BofI. Not going to go into the story here now, but from that and other observations for many years of bankers I've never ever trusted a banker.

All it takes is a phone call between any two banks. Ireland is very small. And with technology getting smaller.
 
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