Q&A Dominic Coyle

My daughter bought some things I wanted on a shopping trip when I visited her in France, as I did not have my bank cards with me. When I returned home to Ireland, I went to my bank to transfer the money back to her account but my bank, Bank of Ireland, said I could only do it online as the amount was less than €3,000 – it was just over €1,200. At my age, I am not likely to start banking online. Surely it is unfair that I am forced to do so?

– Ms AC, Dublin

We all know that the banks are in trouble and looking desperately for ways to operate more efficiently and cut costs as they look to recover from their self-induced financial crisis. It appears you have discovered how some long-standing customers are faring in that process.

I gather from your letter that you are in your 80s and therefore, while not excluded from the internet, are considerably less likely to be an avid fan of online commerce. Many elderly people are quite adroit online, especially in keeping in touch with family through email, Skype, Viber etc. However, many also have considerable reserve about making financial transactions online.

And, given the plethora of security breaches at banks and other institutions that insist on us handing over personal and financial details – Paddy Power’s admission last week that details of its customers were hacked as long as four years ago comes to mind – one can scarcely blame people for their caution. The fact remains that companies which insist we do business online have shown scant regard for safeguarding the details they demand we give them.

In your case, as a customer of close to 50 years standing, you have discovered that what was formerly a routine transaction as a personal banking customer is now impossible.

Bank of Ireland no longer facilitates credit transfers via branches for anything less than €3,000. This certainly excludes a large cohort of transactions for people like you who might be looking to send relatively substantial sums – though, small in the eyes of the bank – to family or friends overseas. The much vaunted arrival of SEPA – the Single European Payments Area – which is supposed to make such transfers across international borders even easier is little more than a joke in poor taste for you.

The bank says you can execute such transactions via its Banking 365 facility but this is its online banking service and of little use to people uncomfortable with online commerce.

Of course, there is no technical reason why such transfers cannot be conducted. The bank was quick enough to suggest you could conduct an “urgent” transfer via the branch. However, this “Same Day Funds Inter-Bank Transfer” charges €25.35 for the privilege and is not what you were looking for. Reference to it would seem to confirm the bank’s view that the sort of service you are looking for – and enjoyed for decades – is no longer available because they cannot make enough money from you on it.

Why can't I check Crest account online?
I was interested to read your item on Crest accounts on July 8th. I recently moved from an online custody account with Danske Bank to holding shares in a Crest account via a stockbroker.

With Danske Bank, I could easily log in and track my shares. With Crest it seems this is not possible as they do not have an online facility for individual investors. I can wait on my annual statements or from time to time laboriously calculate individual share prices to track the balance of my overall holding which is not so convenient.

– Ms EC, email

You don’t say, but I assume you made the switch involuntarily as Danske Bank was pulling out of its personal banking business in Ireland.

Given the growing emphasis among financial services companies to cutting out the human element and conducting business online (see query above), it seems surprising that brokers do not offer online access to Crest accounts. As the accounts are effectively a form of electronic holding for your shares, the information is clearly available electronically and should very easily be made available online. I note you specify that the facility is not available for “individual investors” which also seems to indicate that it is available for the brokers, as I would expect.

Send your queries to Dominic Coyle, Q&A, The Irish Times, 24-28 Tara St, D2, or email dcoyle@irishtimes.com. This column is a reader service and is not intended to replace professional advice.