Customer Assist

The Central Bank of Ireland (CBI) introduced its Code of Conduct on the Switching of Current Accounts with Credit Institutions in October 2010. The Code must be complied with by credit institutions (banks and building societies) providing current accounts in Ireland

The Code applies when a consumer wants to switch his/her current account, including any direct debits and standing orders, to another current account in a different credit institution. The two credit institutions involved must be in Ireland.

Click here for more information on switching your current account. (insert internal link to ‘Customer Assist – Personal Topic – Account Switching’)

Click here to access the National Consumer Agency website for more information on switching your current account.

Information for first-time buyers is available through the BPFI website. more information.  First-time buyers can also download the  BPFI First Time Buyers Guide to the Mortgage Application Process

The National Consumer Agency provides information and advice on how to apply for mortgages through its website. Access the National Consumer Agency website.

Your BIC and IBAN are printed on your bank statement. You can also request them directly from your bank.

The Banking & Payments Federation Ireland website provides a BIC & IBAN mobile app conversion service for consumers called ‘Get My IBAN’. This service allows users to enter an NSC and Account Number and the service will convert it to a BIC & IBAN. The mobile app also allows users to validate Irish BIC & IBANs.

More information on the ‘Get my IBAN’ service is available here

The key in dealing with a debt problem is to recognise the issue and contact your creditors to make them aware of your financial circumstances. Banks and other credit institutions are always willing to offer guidance and will work with their customers who have difficulties in coping with credit repayments, to explore options to address the problem.

There are options available particularly when the issue is tackled at an early stage. It may be possible to reschedule the debt by lowering repayments and paying the loan over a longer period of time or deferring repayments for a time, or consolidating various debts into one more manageable, and perhaps cheaper, loan.  You’ll find more information on this site on managing your mortgage repayments and other debt management issues. More information on where to get advice.

The National Consumer Agency provides advice on dealing with debt problems on its website. Access the National Consumer Agency website.

Where you need advice or assistance in managing your debts, you can contact an independent third party, such as a Money Adviser attached to the nearest Money Advice & Budgeting Service (MABS) centre. MABS, which is funded by the Department of Social and Family Affairs, provides assistance on a free and confidential basis. You can find your local MABS centre through the MABS website. Aaccess the MABS website.

Yes, your company can design its own company cheque. Access Recommended Guidelines for Printing and Using Company Cheques in the Republic of Ireland.

On 1st December 2005, the European Commission presented its proposal for a Directive of the European Parliament and of the Council on payment services in the internal market. This Directive ensures that the same legal framework applies to all payments made within Europe. The Payment Services Directive (PSD) establishes the necessary legal framework for SEPA payments, and also applies to existing national payment products.

On 25th April 2007, the European Parliament adopted the proposal for the Payment Services Directive (PSD) for which the ECOFIN Council had already agreed a general approach at its meeting in March 2007, and which has been adopted by the EU Council.

The bank or card processor which processes a retailer’s payment card transactions is known as an acquirer or merchant acquirer. In order to process card payments a business is required to enter into a contractual agreement with a relevant acquirer which in turn charges a fee/commission for the service it provides to that business.

Financial losses due to card fraud are much lower in Ireland than in most other EU countries, trends continue to vary and criminals continue to target consumers and retailers in order to obtain payment card details for fraudulent use. When a retail business is the target, this ultimately has a financial impact on the retailer and may also cause reputational damage to the business.

SafeCard.ie provides businesses with useful tips on how to protect your business against payment card fraud. Visit SafeCard.ie for more information.