Banking 365 Foreign (Euro zone) transfers

[Happy_Harry]

Am I getting old and keep mixing up things or did I indeed see some announcement from BOI over a year ago that very soon they would be offering foreign money transfers to euro zone countries as part of their banking365 service ? Wonder what happened to that initiative. Would anyone know ?

 

[so-crates]

According to the BOI website all that (and more!!) is being introduced this month .... no sign of when this month - would have saved me a bit of hassle if they had already done so. They have had the of the new look/feel/function of the online banking but that is about it.
"Sensibly" they have used the demo to replace the step by step guide to using their current site ...

 

[Towger]

Don't hold your breath... They were starting to prompt for the PIN on a separate page, but now that has vanished! I could never see the point in asking for 3 digits of a PIN, when you can hit F5 as many times as you like to get the combination required/known!

Towger

 

[Happy_Harry]

Yes, I found it again...am sure they have been promising this for a while now. Anyway, looked at the extras.. adding a beneficiary, finally.. no more having to call them...No, even better, you are gonna be sent an activation code by post , wow, happy to see BOI finally managed to take full advantage of technology and made registration of beneficiaries even slower.
I just don't understand, in 2000 I was making online payments to anyone I wanted, without a need to register anything, on the continent.. And the same I can do with my rabodirect account here, so what is the big deal ?

 

[Mr Magoo]

The new site is just up now this morning!

 

[DrMoriarty]

From their new [broken link removed]:

18.2 The transfer of funds internationally between Designated Accounts requires the Customer to make an application to the Bank for the recognition of a foreign Third Party Account as a Designated Account, which decision is at the sole discretion of the Bank. The Customer will be required to provide the IBAN and BIC, and such other information as the Bank may require from time to time, for the foreign Third Party Account in order for it to be registered as a Designated Account for the purposes of such international funds transfers. Payments will not be permitted to a new Designated Account until such registration is verified by means of an OTAC issued by the Bank to the Customer.

 

[Mr Magoo]

I just don't understand, in 2000 I was making online payments to anyone I wanted, without a need to register anything, on the continent.. And the same I can do with my rabodirect account here, so what is the big deal ?

It's possibly to do with the bank's security - Rabo's is pretty bullet proof so they can offer facilities that might be to dangerous for a bank with weaker security.