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General

How long will it take?

Moving your account(s) takes less time than you might think. Your old account, including all direct debits and standing orders, should be switched over to your new Bank of Ireland account within 10 working days of the switch date you have chosen. If you have requested your old bank to close your account(s), the balance will be transferred and the old account(s) will be closed during the same 10 working days*.

*Your new and old bank will aim to meet these deadlines but in exceptional circumstances delays may arise which are outside the control of either bank.

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Do I need identification?

ID documentation must be obtained from all customers opening new accounts. This should include both proof of "true name" and "current permanent address" (utility bill etc). Simply phone us before calling in and we can clarify this for you.

We also recommend that you bring in your employment / staff number so that we can arrange for your salary to be transferred to your Bank of Ireland account

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Will I be required to sign anything?

Our staff will take you through the application for your new account(s). All other forms needed to complete the switch are at the back of the switch pack. Each will require your signature. Remember if your account(s) is in joint names we will need everyone's signature to switch.

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What steps do I have to take to ensure my account is switched to Bank of Ireland?

The most important thing is to select an appropriate date to commence the switch at a time when there is low activity on your account. Our staff will help you to select this date.

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I don't know what the full list of standing orders and direct debits are on my account. Do I have to get them from my bank and do I have to contact the companies I have direct debits with?

No, as part of the switching process your old bank will advise any direct debit originators of your new account details. They will send a complete list of your standing orders and direct debits to you. We will also receive a copy of this list.

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Can I organise the switch over the phone?

Unfortunately not, you will need to call into your local Bank of Ireland branch. A member of branch staff will be happy to talk you through the account switching process and to answer any questions you may have.

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I have a current account with Bank of Ireland but I haven't used it for some time.

When you call into your branch they will be able to advise you as to whether this account is still active. If it is not active your branch will advise you of what steps you need to take to reactivate it. When you visit the branch you should bring along proof of identify e.g. your passport and a utility bill as we may need to verify your identify.

You will also need to bring your employment/staff number so that we can arrange for your salary to be transferred to your Bank of Ireland account.

Please note- If you currently have an overdraft facility on your account, the account must be in credit in order to process as part of the switching code. If you wish to apply for an overdraft facility please advise our branch staff and they will put through an application but 6 months bank statements will be required.

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What happens to my existing account?

The 'account switch form' offers you two options. You can:

  1. Close your existing account(s) and transfer your balance and all of your active standing orders and direct debits to your new bank
  2. Only transfer all of your active standing orders and direct debits from your old bank account to your new bank account(s), while leaving your existing account(s) open Bank of Ireland will inform your existing bank that you want to switch. Once they know you are switching they will send us a list of all your current active standing orders and direct debits (you will get a copy of this too).

If you have chosen to close your old account(s), your old bank will then close it on your behalf. Remember, if you have an overdraft this must be cleared before you switch. Make sure you leave enough to cover any interest or fees as well as any standing orders, direct debits, cheques, ATM or Laser/debit card transactions that may be due. If your account(s) is in credit, this amount will simply be transferred automatically.

If you have opted to keep your old account(s) open, it will continue to operate in accordance with the terms and conditions of that account.

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What else can I expect?

You may take this opportunity to consider making payments online or by phone. This can save you time and money. Our telephone and online services give you the confidence and flexibility to take care of your banking needs when it suits you.

If you are switching your current account(s) you can request your old bank to provide you with statement(s) of your account(s) for the previous twelve months. Where such statement(s) is not available electronically, your bank will provide one paper copy per account, free of charge.

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Can I set up new standing orders and direct debits on my old bank account after the existing standing orders and direct debits have been moved to my new bank account?

Yes you can, provided the old account allows new standing orders and direct debits to be set up. You may find that, for certain companies, a new direct debit cannot be set up in their favour for two months after the switch date, if a previous direct debit in their favour was transferred to a new bank. Should this arise, please talk to the company in question for options to address this issue.

Standing Order:

A Standing Order is an automatic payment of a fixed regular amount from your account, for example, a payment to a savings or loan account.

Direct Debit:

A Direct Debit is an automatic way of paying regular bills where the amount can vary from one bill to another, for example, telephone, gas, electricity, mortgage repayment, insurance premium.

Direct Debit Originator:

An Originator is a company or organisation that is authorised by you to collect direct debits directly from your bank account. Typically originators will be utilities such as electricity, gas and telephone companies and also includes financial institutions, clubs and associations.

The Single European Payment Area (SEPA)

SEPA is the next step towards European integration which aims to make all electronic cross-border payments in euro between the participating countries as easy, inexpensive and secure as "national" payment within one member state are today. In the SEPA world a customer can make electronic payments to any beneficiary located anywhere in the euro area using a single bank account and a single set of payment instructions. This means that making a payment from Dublin to Dusseldorf will cost the same as making a payment from Dublin to Dingle and will be processed within the same timeframe.

SEPA direct debits operate under the SEPA Scheme with a common level of service within the participating countries.

Non-Domestic SEPA Direct Debit Originators

Under the SEPA Scheme, you will be able to pay bills due to Direct Debit Originators throughout Europe from your current account in the Republic of Ireland using the SEPA Direct Debit Scheme. For instance, if you have a property in Spain, you will be able to pay the bills owing to Spanish utility companies directly from your Irish bank account.

However, these Direct Debit Originators are not within the scope of the Account switching code because they operate outside of Ireland, so you will need to notify them of the changes to your account details yourself. See "Letter to Non-Domestic SEPA Direct Debit Originators" later in this booklet for a sample form that you can use to notify these Direct Debit Originators.

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How do I open an account with Bank of Ireland?

Under Money Laundering Legislation, all financial institutions are now obliged to obtain identification for all new account applicants.

You will need the following documents to open a bank account

  1. A current valid passport or driving licence and
  2. A recent household bill such as a telephone, electricity, gas or a an original financial institution statement that is dated within the last 6 months.

In addition to this you will need to fill out the personal account application form in one of our branches.

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Overdrafts

What do I need to switch my existing overdraft over to Bank of Ireland?

Unfortunately, you cannot transfer an overdraft over to Bank of Ireland as part of the switching process. Your old current account must be in credit for the switch to proceed. If it is overdrawn your old bank will cancel the switch. However you can apply for an overdraft on your new Bank of Ireland current account. To assist with this application we will require 6 months bank statements from your old bank.

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Credit Cards

How can I switch my credit card to Bank of Ireland?

You can apply online, over the phone at 1890 365 100 or in branch.

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What do I require to switch to a Bank of Ireland credit card?

  1. Most recent 6 months current account bank statements
  2. Most recent credit card statements (previous 6 months)
  3. Anti-Money Laundering documentation to prove your identity such as passport/drivers licence and proof of address e.g. utility bill

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Where can I find out more about Bank of Ireland's range of credit cards?

We have the right card for you

  1. More choice
  2. More control
  3. Extra convenience

We have designed our credit cards to give you the flexibility and value you expect from us. You will get highly competitive interest rates, immediate access to your money and you get the opportunity to choose and manage your cards in a way that will suit your lifestyle and meet your requirements. See our full range of cards here

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How long does it take to switch cards?

We will endeavour to provide you with a credit card as quickly as possible. Sometimes we may need to ask you for additional documentation during your application which can add some time but on average you should have your card within 7 to 10 working days

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Can I set up additional cards if I switch?

Yes on your application form you will see a field to set up one additional cardholder at no extra cost, make sure you complete this field and the additional card will issue when your card is approved. If you require more than one additional cardholder you can add these to your account at no extra charge once your account is set up by calling 1890 251 251.

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I currently pay my credit card with a direct debit, can I do this with my new Bank of Ireland card?

That is no problem, this is part of the application form so just make sure you select direct debit and complete the details in your application

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Will I pay a second Government Stamp Duty fee when I transfer to my new Bank of Ireland card?

No, you will only pay one Government Stamp Duty fee. When you are switching your credit card to Bank of Ireland you will receive a letter from your existing provider highlighting that you have already paid Government Stamp Duty. Once you receive this letter you should forward it to Bank of Ireland and we will ensure that Government Stamp Duty is not charged for this year on your account.

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When I switch to a Bank of Ireland can you guarantee that I will receive a credit card?

Unfortunately we can't. We need to review each credit card application on its own merits. If you wish to apply for a credit card please complete the application form available in branch or online

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Savings

Can I use the switch form to move a deposit lump sum to Bank of Ireland?

  1. No, unfortunately you cannot use the switching code to switch savings accounts.

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