Bank of Ireland announces 10.5% credit interest on current accounts


Been using this site for my online banking for the last few years, not a recent site
 
asdfg said:
Anyone know what this legislation is?
Did any of the other banks that offer interest on current accounts insist on this additional information which BOI already have.
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When I changed to an interest current account with AIB,they just filled out an internal request form. I certainly didn't have to supply ID, etc.
 
I applied this morning, straight forward the girl behind the counter filled the form out and copied my passport and esb bill. 5mins max. Whats the big hoo haa?
 
dublinhead said:
I applied this morning, straight forward the girl behind the counter filled the form out and copied my passport and esb bill. 5mins max. Whats the big hoo haa?
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Getting into the shaggin' bank during working hours is the hoohaa! That's why I do all my banking online! Posting the application (stamp & envelope) would probably cost me half of the interest I'm likely to earn between now+21 days and 24/02/2008
 
BOI are using the money laundering legislation etc. as an excuse to make this process more of a hassle than it should be. AIB from a post above seems more straight forward.
 
Following is an email received today from BOI, when I queried the fact that I am an existing customer:

Thank you for your e-mail to Bank of Ireland Customer Care Unit.

The account is not a new account, but we are obliged to request documentation under the taxation on savings legislation. You must also fill in a registration form.

The procedures for registering for existing customers are as follows:

Existing customers must provide evidence of identity and current permanent address in order to comply with the Taxation on Savings legislation. This would consist of a photocopy of either a passport or driving licence, and a copy of a recent utility bill (less than 6 months old), or copy of correspondence from a state or semi-state body.

The registration forms will be available in Branches or can be downloaded from the website www.bankofireland.ie from Monday 15th October.

The completed registration form and copy ID documents should then be sent to:

Central Fulfilment Unit
Bank of Ireland
Operations Centre
Cabinteely
FREEPOST F4421
Dublin 18
 

Hmmm...I wonder is the "Taxation and Savings legislation" what BoI call the [broken link removed] or is it something different?

If it is the EU Savings Directive then the Irish adoption of this directive allowed for existing customers (before 2004) to be identified by name and address.

I could be completely off the mark here so any more info would be good to get.
 
Hi there
[broken link removed]

I rang 365 121 this am - the above link contains the online form needed to be completed to get the increased rate.
P
 
opened 2 new credit interest current accounts today! Was told there was a limit of 2 but didn't push it and cant find it in the terms and conditions. I will now go about converting my 2 existing accounts...
 
The BOI WEBSITE says:

Another great reason to use 365 online and phone
Make three or more payments from your personal current account using 365 phone or online5 and you will automatically qualify for Free Day-to-Day Banking6.

[broken link removed]


I presume this is EVERY month. .... three times a month is a bit much?

RGS.

G
 

It is per-quarter. See application [broken link removed]
 
Sarsfield said:
Getting into the shaggin' bank during working hours is the hoohaa! That's why I do all my banking online! Posting the application (stamp & envelope) would probably cost me half of the interest I'm likely to earn between now+21 days and 24/02/2008
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Well, despite my last comment (above), I found myself with some spare time this morning & popped into my branch to get my 10.5%. 10 minutes out of my life queuing but otherwise pretty painless.
 
I got my dear Mum to drop into my local branch today with my application form and a photocopy of my driving licence and recent correspondence from the vhi with my name and address on it. The clerk said the vhi letter was not accepted and wanted a utility bill. A little row then ensued and then the clerk looked up my account or accounts and then turned around and said 'thats grand' and handed back the letter and photocopy of my driving licence.
Why didnt the clerk check the account (s) in the first place if she was going to take this action? The vhi is a semi state company and therefore the letter should have been accepted. Lack of training yet again. Dont you just love BOI!
 
Hi Guys,
I have registered for this a week ago (sent the docs and stuff), as of yet I have not heard from BOI - do they notify you once the new interest rate is available to your account???
Thanks
P
 
I've had no acknowledgment yet (doubt they do one), infact they wrote to me saying Congratulations that I have qualified for FREE banking and a Interest Earning feature on my current account. Sure I've had FREE banking since the summer of 2006 - Dont you just love BOI!
 
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