(Ask nlgbbbblth) - My Weekly Bank Related Question (2 Viewers)

[nlgbbbblth]

not necessarily; could i just increase the principal on the mortgage instead?

top-up mortgage to do the home improvements?

yes, that would be an option. Might be easier as the repayment increase will not be that much.

I think there's a minimum 0f €10,000 though. Probably varies from bank to bank. And if your life cover is decreasing cover (cheapest option) instead of level term you'll need to top it up.

 

[schmegeggin]

how do you pay by laser online as in like you do with a credit card (you have the option of selecting mastercard visa laser), when i try to enter the card no it always comes back as invalid, is there some number that isnt on the card that needs to be entered

thanks

 

[nlgbbbblth]

how do you pay by laser online as in like you do with a credit card (you have the option of selecting mastercard visa laser), when i try to enter the card no it always comes back as invalid, is there some number that isnt on the card that needs to be entered

thanks

16 digit lasercards seem to work fine
some of the ones issued in the last few months now have 19 digit numbers but do have the Maestro symbol added onto the card.

I know from talking to people that they have difficulty using the 19 digit cards online.

 

[schmegeggin]

16 digit lasercards seem to work fine
some of the ones issued in the last few months now have 19 digit numbers but do have the Maestro symbol added onto the card.

I know from talking to people that they have difficulty using the 19 digit cards online.

thanks, yeah mine is a 19 digit number, i got it last october, it doesn't have a maestro symbol, can i get it changed for a 16 digit number?

 

[nlgbbbblth]

thanks, yeah mine is a 19 digit number, i got it last october, it doesn't have a maestro symbol, can i get it changed for a 16 digit number?

scratch that: I'm getting confused.

The new cards laser / maestro have 16 digits - credit card style.
The old ones had 19 digits.

I think the problem could lie with the retailer's merchant card system. I have a feeling that some machines need to be upgraded to accept the 16 digit version. For online payment systems this might not be that straightforward.

In your case you have the old version so it should be ok. Are you ordering from an ROI site? Laser is useless anywhere else.

 

[RSJ]

I want to save to go away for a few months at the end of the year but am shite at not spending money that i have access to, so was thinking of taking a grand out of my wages each month and putting it into traveller's cheques - is this a good idea or is there some hidden cost to this that i'm not seeing?

 

[nlgbbbblth]

I want to save to go away for a few months at the end of the year but am shite at not spending money that i have access to, so was thinking of taking a grand out of my wages each month and putting it into traveller's cheques - is this a good idea or is there some hidden cost to this that i'm not seeing?

what currency?

The commission on purchasing travellers cheques can be high enough. Varies from place to place. You might be charged for cashing them too. They're handy as they can be replaced if lost or stolen. Downside is that they're not as popular as they once were so I imagine that fewer places will cash them. You should have no problem with banks or AMEX (presuming you buy AMEX cheques) outlets.

If it's US dollars, the exchange rate is very favourable for anyone who is buying dollars at the moment.

It probably would be more cost effective if you opened a savings account (with no ATM card) and set up a standing order each month for €1,000 to go into it.

 

[RSJ]

what currency?

The commission on purchasing travellers cheques can be high enough. Varies from place to place. You might be charged for cashing them too. They're handy as they can be replaced if lost or stolen. Downside is that they're not as popular as they once were so I imagine that fewer places will cash them. You should have no problem with banks or AMEX (presuming you buy AMEX cheques) outlets.

If it's US dollars, the exchange rate is very favourable for anyone who is buying dollars at the moment.

It probably would be more cost effective if you opened a savings account (with no ATM card) and set up a standing order each month for €1,000 to go into it.

Yeah dollars. It's asia i'm headed to so i'll be buying travellers cheques in dollars anyways.

 

[It Will Never Last]

Dear nigglebuzzard,

I'm looking at re-mortgaging (switching plus topping up) with NIB's new 60-80% LTV looking very attractive. They offer to pay my legal fees if I go with one solicitor, or pay €600 towards a solicitor of my own.

Is it a good idea to go with their one?

 

[nlgbbbblth]

Dear nigglebuzzard,

I'm looking at re-mortgaging (switching plus topping up) with NIB's new 60-80% LTV looking very attractive. They offer to pay my legal fees if I go with one solicitor, or pay €600 towards a solicitor of my own.

Is it a good idea to go with their one?

I've no idea but look at this way:

You're in no rush to drawdown the funds and repay your existing lender as you already live in the house. If there are delays with their solicitor they shouldn't be unsurmountable so why spend money on your own solicitor who will probably charge at least a grand? Granted you might save a little bit on the interim with NIB's cheaper rate but it'll probably only be a couple of weeks in the difference

 

[It Will Never Last]

Sounds good niggle, one more quick question...

Is there any credit card provider in Ireland who would give me a sterling account? I'm thinking MBNA...

I use my card to buy match tickets for the Spurs, but they have a tendency to fuck up and have to refund money to my card...I end up losing money regularly on currency conversion.

It would be handy if I had a sterling account that I could transfer money into every couple of months, keep it in credit so I didn't have to make monthly payments like. That way I'd only lose out on the deposit to the account.

 

[nlgbbbblth]

the four banks all operate in Northern Ireland too.

AIB - First Trust
Bank of Ireland - same
Ulster Bank - same
National Irish Bank - Northern Bank

You could get a sterling credit card application form off one of them and apply. Theoretically you don't need a sterling current account to apply for a sterling credit card.

Paying the bills would be tricky though. You'd have to purchase a sterling bank draft every month and post it with the credit transfer tear-off slip to the bank concerned.

 

[RSJ]

This is probably an incredibly stupid question but can you get a mastercard and visa from the same credit card account, or do they have to be seperate? As in, i have a visa now but want a mastercard for some travelling where only mastercard will do (so i'm told) but i don't want the bother of three accounts (ATM, VISA, Mastercard), can i get one off BOI that will be a sort of joint credit account with my visa?

 

[It Will Never Last]

the four banks all operate in Northern Ireland too.

AIB - First Trust
Bank of Ireland - same
Ulster Bank - same
National Irish Bank - Northern Bank

You could get a sterling credit card application form off one of them and apply. Theoretically you don't need a sterling current account to apply for a sterling credit card.

Would they accept an application from down sarf?

 

[Squiggle]

This is probably an incredibly stupid question but can you get a mastercard and visa from the same credit card account, or do they have to be seperate? As in, i have a visa now but want a mastercard for some travelling where only mastercard will do (so i'm told) but i don't want the bother of three accounts (ATM, VISA, Mastercard), can i get one off BOI that will be a sort of joint credit account with my visa?

You should be able to get both cards on the same account. I had a visa and mastercard on my BOI credit card account until last year when my bag was stolen... when I re-ordered I didn't bother getting the visa.

 

[RSJ]

You should be able to get both cards on the same account. I had a visa and mastercard on my BOI credit card account until last year when my bag was stolen... when I re-ordered I didn't bother getting the visa.

Squiggle - you're a legend. Between this and the rep message advice i am forever indebted to you.

 

[nlgbbbblth]

Would they accept an application from down sarf?

well, they'll open bank accounts for people resident in the Republic so this shouldn't be any different.

 

[nlgbbbblth]

You should be able to get both cards on the same account. I had a visa and mastercard on my BOI credit card account until last year when my bag was stolen... when I re-ordered I didn't bother getting the visa.

I remember hearing about BOI's twin card option. Not sure if you can still avail of it.

A mate told me that when chip and pin came in they wrote to people saying that the new card would be one or the another.

So if you wanted both you had to apply for a second card - i.e. separate account.

 

[Squiggle]

I remember hearing about BOI's twin card option. Not sure if you can still avail of it.

A mate told me that when chip and pin came in they wrote to people saying that the new card would be one or the another.

So if you wanted both you had to apply for a second card - i.e. separate account.

hmmm dunno, they offered me both last year, and it was after chip and pin. guess the customer services guys are the best option

 

[muffin]

give 1890 251 251 a ring and they should be able to set you straight..

its mad i worked for them for so long and had never heard of any of this stuff!!
probably even madder that i remember the stupid credit cards phone number even though i never have had and never will have a bank of ireland credit card..