Should BOI be obliged to comply with its advertised deposit terms?

I've mixed views tbh, but if pressed, then I think they should be compelled to honour the terms advertised.

At one level, we all make a mistake from time to time, and the odd mistake should be excused.

That said, TV adverts are not like a live broadcast, there's time to review and edit a TV advert, before it's broadcast, so in the case of a TV advert, I think they should have to honour it.

Mind you, I'd have a similar opinion of it were a sign in the window, offering goods at a certain price, but we all know that doesn't compel a retailer to sell at the price advertised...
 
On the face of this it appears to be an honest mistake. It was BOI who brought it to the central banks attention. If it's a one off so be it, if it becomes a marketing ploy that's a different story

Every so often you see an online retailer misprice a product e.g., a top of the range TV costing €2,999 advertised as €299. Everyone piles in only to have their order cancelled. It feels a bit like this.

I wonder how many people actually signed up for it. Given the inertia in the market not many I imagine. I suppose people could challenge it if they ultimately wanted to.

It might have been worth BOIs while to honour it - a little bit of positive publicity for what would probably have amounted to a small sum of money.
 
I’m very easy on this - I see a window ad “Today’s Special - All Breakfasts €3.00” and I order the Full Irish Breakfast and get confronted by the waitress - But Mr Lep you can’t expect two sausages, one egg, black pudding, white pudding, a couple of rashers and mushrooms, toast and tea for €3.00. Ol’ Lep replies “You advertised it, here’s €3,00 and of course your 10% tip See you again . . . “

If banks can’t get their advertising right why moan to the customer?
 
Last edited:
I'm unfamiliar with the ads referred to.
But surely nowadays every financial ad on radio or TV finishes with a rapid stream of unintelligible babble about terms and conditions applying and its being authorised by the Financial Regulator?
And much the same stuff is included in printed advertisements (usually in a minuscule font at the bottom of the ad.).

That being so, I assume that the Bank has a bit of wriggle room in the case of its "misleading and confusing" ads.
 
Marsupial said:
I'm unfamiliar with the ads referred to.
But surely nowadays every financial ad on radio or TV finishes with a rapid stream of unintelligible babble about terms and conditions applying and its being authorised by the Financial Regulator?
And much the same stuff is included in printed advertisements (usually in a minuscule font at the bottom of the ad.).

That being so, I assume that the Bank has a bit of wriggle room in the case of its "misleading and confusing" ads.
Click to expand...
Interestingly the bank refers to the error being in the "small print", as if this makes it less harmful to the consumer!
 
You must log in or register to reply here.
Back
Top