A further twist to this.
Got a letter last week from BOI Mortgages saying that as I had applied for a mortgage break they would be giving me 3 months free life insurance as the mortgage life policy is with BOI Life. I only need to contact them if I donāt want itā¦
It would seem pretty pointless to have a direct debit account that couldnāt process direct debits.
But yes CUs can do direct debits and standing orders. Not all, but all the dub ones should be able, and if not your local one you can join the one nearest where you work
Thatās my thinking on it.
I already have a letter from them acknowledging that the application of the mortgage break was an error on their part, so I have that kept aside in case they ever try to use it against me in the future.
Id have thought fact that donāt lend, theyāre taking in peopleās dosh and just fattening off the interest? Little overhead as no branches, staffing etc
Edit: appears im not at the races at all having read that article