Paying balance of house purchase i.e. large amount

P

podgerodge

Registered User
Messages
1,062
Anyone have any experience in easiest way to transfer house purchase funds (i.e. main bulk of purchase price) to solicitor from BOI? Presume a branch visit is necessary?
Thanks.
 
I did a SWIFT transfer from my bank branch to my sol account.

It meant sitting with bank staff for maybe 10-15 mins, inputting SWIFT transfer details, double-checking everything.
 
podgerodge said:
Anyone have any experience in easiest way to transfer house purchase funds
Click to expand...
I rang banking 365 Premier and had to transfer funds over a number of days - the max I could transfer in any 24 hour period was 100K.

I could not do this in a branch with a cashier. Initially I tried, but the confusion from the cashier in what I was asking them to do was frustrating. First they didn't know what to do, then they mentioned I had to go to my own bank branch (which I was at !), then they didn't have authority to perform the transfer from my account. After 20mins, I thanked them for their time and walked away.
I went to my car and rang premier 365 who went through the details over the phone. After the transfer was initiated, I received a follow up call (which was mentioned to me) at which I had to confirm the information relating to the transfer. Then 24 hours and 5 mins later, I rang them again to perform another transfer of 100K, go through the same process and similar follow up call. I couldn't fault their Premier 365 staff.
 


I thought it needed too be transferred in 1 go ?
Could you transfer from a few accounts ?
 
Pinoy adventure said:
I thought it needed too be transferred in 1 go ?
Could you transfer from a few accounts ?
Click to expand...

There is a limit (from the accounts I have) that limits a €100K per 24 hours - whether that's per transaction or per account I can't say.

My solicitor didn't grumble that it took number of days to get the funds to the account, but if you are under pressure to get the money through, then not sure if there is a quicker way - also be aware that each transfer may not be in your solicitor's account with the 24 hours, especially if solicitors a/c is not BOI account. You can "hurry up the transfer", but I was quoted €25 per transaction, for that privilege.
 

I was more thinking of a hold up from the bank if you start doing 100k transactions each day (2/3/4 days) perhaps they might look into things more which might take time due too AML rules/regs
 
I am amazed that a physical meeting would not allow you to transfer your funds for whatever amount once you have identified yourself. Sure transfers for millions and billions are happening every day. The only reason for limits surely was for indirect contact with the Bank rather than direct contact.
 
They said any branch, not even your own, would do it for any amount on production of valid ID and debit card.
 
You must log in or register to reply here.
Menu
Log in
Register