UB cant do simple fund transfer between 2 irish a/cs?

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serotoninsid

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I wanted to transfer a few hundred euro from my UB a/c to a PermanentTSB a/c. Brought a/c details to the bank and they tell me they can only do such transfers if they have a 'transfer slip' with the encoding at the bottom (like whats visible at the bottom of a cheque).


Is this for real?

I've done the above many times when with BOI previously.
 
serotoninsid said:
I wanted to transfer a few hundred euro from my UB a/c to a PermanentTSB a/c. Brought a/c details to the bank and they tell me they can only do such transfers if they have a 'transfer slip' with the encoding at the bottom (like whats visible at the bottom of a cheque).


Is this for real?

I've done the above many times when with BOI previously.
Click to expand...


Yes.
In 2001 all the Irish banks decided to get rid of 'unencoded paper' from the clearing system. Prior to this you could walk into say UB and lodge to an PTSB account by filling out a manual credit transfer docket. Now you can only do it if you have a pre-printed/pre-encoded lodgment slip for the PTSB account. Also known as a lodgment book.

The reason for this: manual dockets were prone to human error with incorrect/illegible account numbers being written on them. They also cannot be read by the machines in any of the bank's clearing systems so manual intervention was required. Pre-printed dockets can be easily read (like cheques) and the information on them cannot be wrong

Think of it in this way - you go into a supermarket and they cannot scan any of your items. Instead the barcode has to be entered in manually which causes a delay. Far easier and quicker if the barcode can be read by the machine.
 
nlgbbbblth said:
Yes.
In 2001 all the Irish banks decided to get rid of 'unencoded paper' from the clearing system.
Click to expand...
I'm fairly sure I have transfered cash in this way after '01 when with BOI. I suppose they must not have been sticking rigidly to the above rule.

nlgbbbblth said:
Prior to this you could walk into say UB and lodge to an PTSB account by filling out a manual credit transfer docket. Now you can only do it if you have a pre-printed/pre-encoded lodgment slip for the PTSB account. Also known as a lodgment book.
Click to expand...
I see some logic in this. However, if theres nothing better to replace it, then its not really progress. How is another individual to provide me with a printed slip like this?
My only options now are to;
a). Go back to individual concerned and get their mailing address and send on a cheque - slowing down the process seeing as he's not even resident in IRL right now.
or
b). Drive to the next town that has a PermTSB - hand over cash and have them transfer it to his a/c.
 
im with aib and I often transfer money to other peoples BOI accounts using the online facility, and theres never any problem.
 
i am with ub and first active. i often transfer money to my first active account from ub. i do it all online.
 
yeah, i do it online all the time through ulsterbank - admittedly you must ring and register the payee initially, but after that there's no problem.
 
that is right yes. i had to register the first active account info over the phone first.
 
Never thought of setting up an a/c for online payment - even though its a one off payment, its a lot more efficient than making the effort of calling in to the bank.

Thanks folks.
 
If you want to transfer to an account in the same bank (not necessarily same branch) it is possible without the pre-printed slip. Otherwise you have to have it.

It is a lot easier to do it online but you have to ring up and register the appropriate account first though. (With BOI anyway)
 
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