Change Loan Repayment Date

penny_farthing

I have a personal loan with Danske Bank - I used to have a current UK account with them but I had to change this I started working in Republic of Ireland and needed a ROI current account. As Danske Bank don’t have personal banking in the ROI I set up with a new bank

I never had an issue paying my loan previously but due to the fact that I now get paid on same day as the loan DD is to be taken from my Danske Bank current account it has left me in a tricky position to make sure I have enough money in the account to pay it.

The first solution I thought of was I would just change the DD to come out of my new ROI account on that day straight to Loan account – when I asked to do this they told me that they can’t allow this as it has to come from my Danske Current Account

Okay so I rang back and asked if I could change the date of the loan payment to say 7 days after the date I get paid in ROI so it would leave me enough time to transfer funds from ROI account to UK Account (international clearing days etc). They then told me that they can’t change the date of payment as it’s a “fixed rate loan”. Whatever that has to do with it? Is this correct

I remember years ago having the same type of personal loan with Bank of Ireland (UK) and they facilitated a change of date to the loan repayment due to similar circumstances.

Would greatly appreciate help on this as I don’t want to be feeding a bullsh*t line!

Bigphil1474

Had a similar issue with pay day and Direct debit (in the UK though). Only solution was to bring the DD forward by about 3 weeks, so in the first 'month' I paid twice, but after that was okay. Can't say I know if the same could apply to international funding, but if you could afford it, maybe pay in twice then you are ahead.

CLAPTON

penny_farthing wrote: »

I have a personal loan with Danske Bank - I used to have a current UK account with them but I had to change this I started working in Republic of Ireland and needed a ROI current account. As Danske Bank don’t have personal banking in the ROI I set up with a new bank

I never had an issue paying my loan previously but due to the fact that I now get paid on same day as the loan DD is to be taken from my Danske Bank current account it has left me in a tricky position to make sure I have enough money in the account to pay it.

The first solution I thought of was I would just change the DD to come out of my new ROI account on that day straight to Loan account – when I asked to do this they told me that they can’t allow this as it has to come from my Danske Current Account

Okay so I rang back and asked if I could change the date of the loan payment to say 7 days after the date I get paid in ROI so it would leave me enough time to transfer funds from ROI account to UK Account (international clearing days etc). They then told me that they can’t change the date of payment as it’s a “fixed rate loan”. Whatever that has to do with it? Is this correct

I remember years ago having the same type of personal loan with Bank of Ireland (UK) and they facilitated a change of date to the loan repayment due to similar circumstances.

Would greatly appreciate help on this as I don’t want to be feeding a bullsh*t line!

just keep sufficient in your a/c so there is money there to pay at month end