Bank of IRL - Maximum a/c transfer of €500/day?

[serotoninsid]

Hi. Someone owes me some € and is trying to tell me that BOI only allow a maximum of €500/day.

He does have a personal (rather than business) account. However, that doesn't sound right. Can anyone give a definitive answer on this?

 

[TarfHead]

The person trying to send you the money should get clarification from their own bank.

 

[Fatphrog]

Maybe he wants to transfer it to you in nine transactions for free banking.

I have the standard BOI current account and there is no such restriction for me. When setting up a new beneficiary using mobile phone verification, there is a transaction limit of €3000 but mailed verification is more than that.

 

[iscritto]

Some times you can have a restriction placed on withdrawing money from an atm but never heard of it for transferring money. I would suggest you contact the bank he/she is using and ask an "in general" question about transferring money.

 

[Mpsox]

If his account is with BOI, then the limit is €20k a day, assuming he is set up
correctly

see attached
[broken link removed]

 

[millieforbes]

I had this issue a couple of years ago -as far as I can remember, when you first set up a new payee by phone they will allow you to make a payment there and then of eur 500 but to transfer anymore you need to wait until you get the activation code in the post a few days later.

this could be the problem - it should be a technicality that they can get around in a few days

 

[ecstatic]

Yes they state its 20k but thats not true a few months ago they changed this down too 5k.

They also changed withdrawel from bank account abroad (europe) down too 500 from 700.

Its a classic sign off a bank with liquidity issues but the 5k has been happening since the start off the year.

 

[serotoninsid]

Thanks for the replies. As it turned out, it's a european bank thats being used - not BOI....but thanks for the input in any event.

 

[agentino]

If it is a European bank he may well be right. Wiring money around Europe is a grueller at the best of times and many of them have an annual limit of €3000 or so