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

[Theseus Mock]

Question:

I've started doing a part-time Masters in the evening yet I'm still working full-time. Is there any chance the bank would change the status of my account to student or even graduate? (I had it changed to a normal one back in february as I had to fess up when I was taking out a loan) I know I'm chancing my arm but it's worth knowing.

 

[nlgbbbblth]

Question:

I've started doing a part-time Masters in the evening yet I'm still working full-time. Is there any chance the bank would change the status of my account to student or even graduate? (I had it changed to a normal one back in february as I had to fess up when I was taking out a loan) I know I'm chancing my arm but it's worth knowing.

Not student but possibly graduate.

 

[Pantone247]

Dear Nlgbbbblth

Why do all the banks hate me and only want to see me in pain, debt and anguish? Not being flippant here... they all really really dislike me.... Also how long does it take to get off a credit black list, asks my friend... would a mild legal tussle over a non payment of a loan or credit card or both affect ones chances of buying a house 5 or more years on...hypothetically speaking?

xxx

P247

 

[nlgbbbblth]

Dear Nlgbbbblth

Why do all the banks hate me and only want to see me in pain, debt and anguish? Not being flippant here... they all really really dislike me.... Also how long does it take to get off a credit black list, asks my friend... would a mild legal tussle over a non payment of a loan or credit card or both affect ones chances of buying a house 5 or more years on...hypothetically speaking?

xxx

P247

No guarantee that everything is ok but...

The Irish Credit Bureau keeps records for up to five years.

Some info here

 

[Pantone247]

No guarantee that everything is ok but...

The Irish Credit Bureau keeps records for up to five years.

Some info here

cheers fella

the big joke here of course the idea that I'll *ever* be able to buy a house

congrats on the kiddum too, top days ahead!

 

[old]

Paul, I'm back to being an undergraduate and have a U-First account so's I could get a tracker mortgage. Can I tell em I'm a student and not pay fees?
Is studenthood of any use to me, bankwise?

 

[nlgbbbblth]

Paul, I'm back to being an undergraduate and have a U-First account so's I could get a tracker mortgage. Can I tell em I'm a student and not pay fees?
Is studenthood of any use to me, bankwise?

Having the U First a/c entitles you to a cheaper tracker mortgage. You need to weigh up the €9 fee per month versus the mortgage repayments you'd pay if you went onto the ordinary tracker mortgage. The €9 per month fee is mandatory.

Students are entitled to interest fee overdrafts to a certain level and no transaction charges on the current account. No commission of forex cash or cheques and a lower rate on travel loans up to €2,000.

But if it's cheaper to stay as you are then there's no point in changing things.

 

[Shay HT]

Went to AIB today (where I have my a/c), wanted to transfer money to NIB a/c. Told I could only transfer form AIB a/c to AIB a/c. So had to get Bank draft and take it to NIB.

But last month I transfered from my AIB a/c to a UK HSBC a/c.
I get paid every month from an Ulster Bank a/c.

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[nlgbbbblth]

Went to AIB today (where I have my a/c), wanted to transfer money to NIB a/c. Told I could only transfer form AIB a/c to AIB a/c. So had to get Bank draft and take it to NIB.

In 2001 all the Irish banks decided to get rid of 'unencoded paper' from the clearing system. Prior to this you could walk into AIB and lodge to an NIB 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 NIB 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.

But last month I transfered from my AIB a/c to a UK HSBC a/c.

Yes - but that's to a different country and clearing system. Every foreign transfer requires a form to be completed.

I get paid every month from an Ulster Bank a/c.

Yes - but you get paid electronically. Your employer presumably has a standing order in place or else pays you by payroll/internet banking.

 

[old]

Thanks Paul!

 

[P. Littbarski]

hi nlgbbbblth,

apologies if this has been covered...but is it normal that it takes 3 days to transfer money form my current account to my credit card account ?

both accounts are with the same institution.

i can see both accoutns on my online banking account, but when i transfer money to CC a/c it is minused from current account, but does not appear in my CC a/c until 3 days later...so effectively it is lost somewhere in the ether.

is this a scam ie. does my bank make money/interest during this time on my money ?

 

[pete]

hi nlgbbbblth,

apologies if this has been covered...but is it normal that it takes 3 days to transfer money form my current account to my credit card account ?

both accounts are with the same institution.

i can see both accoutns on my online banking account, but when i transfer money to CC a/c it is minused from current account, but does not appear in my CC a/c until 3 days later...so effectively it is lost somewhere in the ether.

is this a scam ie. does my bank make money/interest during this time on my money ?

ahahahaaaaa i feel your pain

i think i posted this almost word for word ages ago

 

[nlgbbbblth]

hi nlgbbbblth,

apologies if this has been covered...but is it normal that it takes 3 days to transfer money form my current account to my credit card account ?

both accounts are with the same institution.

i can see both accoutns on my online banking account, but when i transfer money to CC a/c it is minused from current account, but does not appear in my CC a/c until 3 days later...so effectively it is lost somewhere in the ether.

is this a scam ie. does my bank make money/interest during this time on my money ?

Yes that is normal - no scam.

Your money goes into a general collection account for your bank's Visa or Mastercard and is then subsequently posted/applied to the individual credit card account.

In the interim the funds are in the vast oasis that is the clearing system.

Same applies when you pay bills online or credit transfer (eircom/ESB/gas etc)

 

[spectraljanitor]

i gots a question for the banker:

if i wanted to open an account in a name that was not mine i.e. "Jelly Babies" or "graden furniture" (for example) is that possible?
serious question!

 

[nlgbbbblth]

i gots a question for the banker:

if i wanted to open an account in a name that was not mine i.e. "Jelly Babies" or "graden furniture" (for example) is that possible?
serious question!

presume this is a business name?

register the name (Jelly Babies) and you should be able to do Spectral Janitor t/a Jelly Babies. Sole trader.

 

[spectraljanitor]

presume this is a business name?

register the name (Jelly Babies) and you should be able to do Spectral Janitor t/a Jelly Babies. Sole trader.

aha! register it with the companies registration office yeah?
thanks

 

[P. Littbarski]

ahahahaaaaa i feel your pain

i think i posted this almost word for word ages ago

it sucks...i'm with the permtsb...is this unique to them or does it happen with other banks also.

thanks for the info nlgbbbblth...you're such a banker !

 

[nlgbbbblth]

it sucks...i'm with the permtsb...is this unique to them or does it happen with other banks also.

thanks for the info nlgbbbblth...you're such a banker !

no prob. not unique to PTSB, same for UB and NIB anyways.

 

[pete]

it sucks...i'm with the permtsb...is this unique to them or does it happen with other banks also.

i have a BOI account & BOI credit card yet it still takes 3 working days for them to move MY money from one account to the other.

miracle of technology.

 

[nlgbbbblth]

i have a BOI account & BOI credit card yet it still takes 3 working days for them to move MY money from one account to the other.

miracle of technology.

that leaves AIB. When I had a credit card with them some years ago it used take the 3 days for the money to hit the account.