Strange event on my BOI account

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walktothewater

Registered User
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32
Logged into my account this morning, as I usually do. Noticed balance was higher than expected and on scanning transactions I saw an unexpected incoming one of 300 or so from IG Index Co. Curiously, I did have an account with them but closed it years back, so could possibly be a genuine transaction if they did an internal review and found customers had been undercredited from years ago. I would not have received anything in post as have changed address.
Odd thing was, when I rang BOI and gave the PIN digit asked for, she said, twice 'incorrect numbers'. In spite of me successfuly logging in minutes earlier at home. I suspect she made a mistake or misheard the numbers I gave her. Anyway, changed the 6 digit PIN succesfully.
Will be interesting to see what comes out of it.
 
This can sometimes be part of a scam. Scammers sometimes send you a small amount and look for you to return it. I won’t get into specifics of how it works.

But less likely given the scale in your case given the amount and fact you had a relationship with them.
 
Interesting. The transaction hasn't even fully cleared yet so we'll find out. I'd love if it was a genuine transaction, more likely scam or even just an error, could do with the money, lol. It's unlikely to be genuine credit as the account I did have with IG Index was closed so long ago (in 2011 I think?)
 
Find an email address on their site.
Send them an email with your account number and ask for an explanation.

You probably won't get a reply but if they ever do come looking for it you can show that you tried to refund it.
 
Interesting article, Brendan, thanks. I wonder did they end up having to do a comprehensive review and find undercredits from years' back? Fingers crossed. But I'm not spending the money just yet.
 
I don't even have the account number Brendan any more, account is long closed. And even if they sent out a letter I wouldn't have received it, have changed address.
 
walktothewater said:
Interesting. The transaction hasn't even fully cleared yet so we'll find out. I'd love if it was a genuine transaction, more likely scam or even just an error, could do with the money, lol. It's unlikely to be genuine credit as the account I did have with IG Index was closed so long ago (in 2011 I think
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Highly unlikely to be a scam - scam take many forms, but credit to a bank account by a reputable company that you have had dealings with in the past is not one of them :D

They did have a hefty provision in their accounts last year for legacy issues that was likely to result in refunds.

https://www.ig.com/en/news-and-trad...umbles-on-provision-for-client-refunds-240228

My guess is its part of this - so enjoy the "win"
 
Did the BoI staff member ask you to repeat the PIN numbers & if so did she ask for the same numbers? If she asked for a different set of numbers then I would suspect a scam as this is a way of getting all six digits. I note that you have changed the PIN.
 
Mixed the link up with another which can't be accessed as the IG community forum is closed.

This is the headline
"IG is refunding losses incurred in complex instruments - IG Community
26 Nov 2021 — We believe it's fair to compensate clients for losses incurred on these complex products where we should have displayed a risk warning and"

So still likely something similar was found recently and refunds with an element of compensation have been made.
 
Well, today the transaction is now appearing in "completed transactions". I think I will do what Brendan suggested and contact IG directly even without old account number. They should be able to run a search on date of birth and my old address basis.

edit: email sent.

Dear Sirs,
I received a credit into my bank account "IG Index Limited GP 338.04" dated 29/05/2025 can you please check if this is valid transaction. I did previously have an account with IG Index but it was closed a few years' back. I no longer have my old account number but my date of birth is xxx and my then address was xxxx.
Yours faithfully,
xxxxx

At this point I suspect it is not a scam but it could be a banking error. But it is possible that they discovered overcharging in recent years and had to do some kind of look-back exercise either on their own behalf or because their regulator made them. They would be considered a highly reputable operation by the standards of the spreadbetting world. (note: I do not recommend spreadbetting). My bank details haven't changed since I had the account with IG. IIRC, AIB had to refund customers from years back when overcharging was discovered. Will be interesting to see what happens.
 
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dammam said:
Did the BoI staff member ask you to repeat the PIN numbers & if so did she ask for the same numbers? If she asked for a different set of numbers then I would suspect a scam as this is a way of getting all six digits. I note that you have changed the PIN.
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She asked for the same numbers twice, said it wasn't accepting them. Then I got frustrated and gave her all six numbers, even though she didn't ask for them. She said - correctly - that I was not supposed to give her all six, so would have to change the PIN - which went through successfully. I think she possibly misheard the numbers I gave her twice, or she may have made an error inputting them, or alternatively I may have misheard her and given a wrong number. Not being racist but I sometimes struggle with Asian accents. In any case, PIN changed successfully.
 
Brendan Burgess said:
Agreed, and it had not occurred to me. But it's a very good idea to actually have this possibility on the checklist, just in case...
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In the world in which we are now operating, "Is this a scam ?" should be the very first thought in relation to any inbound communication or query relating to finances, be it a call, e-mail, sms or other message, or an unexpected transaction or occurrence. In fact no harm to assume that It is a scam until proven otherwise.
 
Freelance said:
In the world in which we are now operating, "Is this a scam ?" should be the very first thought in relation to any inbound communication or query relating to finances, be it a call, e-mail, sms or other message, or an unexpected transaction or occurrence. In fact no harm to assume that It is a scam until proven otherwise.
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Correct, unfortunately.
 
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