- What is a Rabo Money Mover?
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The Rabo Money Mover is the easy way to transfer your money into your RaboDirect Accounts from another Irish bank. You set it up from within your secure account with RaboDirect, so no need to hang around in bank branches relying on someone else to do this for you.
If you want to start saving regularly with RaboDirect or have the option to deposit a one off lump sum to your RaboDirect Savings Account (there's no limit on the amount), the Rabo Money Mover is just the thing.
- How does it work?
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Your money will leave your main bank account on the date you selected and will credit your RaboDirect Savings Account after 2pm on the same business day.
- Why should I set up a Rabo Money Mover?
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Cost Savings - Now you can reduce your bank charges with your own bank by using the Rabo Money Mover service instead of cheques. We won't charge you a cent and you make our lives easier by reducing the paper we have to process!
Time Savings - Why lose out on interest while your cheque is in the post or waste time queuing in your bank branch? Setting yourself up on Rabo Money Mover is quick and easy. You can set this up as a regular automatic transfer, and you only need to set it up once.
Convenience - Day or night - it's up to you. RaboDirect.ie is open for business 24 hours a day, 7 days a week.
No limits - You can transfer as much as you like, once you have the funds in the external account.
- How do I set up a Rabo Money Mover?
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Log in to your RaboDirect account. You 'll find the Rabo Money Mover option under 'Transfer Money', 'Transfer Money In' on the left hand menu.
To get this facility up and running you'll need to create a 'Payment account'. This means providing us with the details of the external account you'll use to transfer money from. You can make lodgements to your RaboDirect Savings Account from this account either on a one-off or regular basis.
To get started, select 'Set up a payment account' and enter the payment account name, sort code and account number.
You must then tick the box confirming that you can authorise direct debits from this account, your account can facilitate the instruction and that you will not require any further notification from us. Click on Next.
Enter the amount and frequency of withdrawals from your external account. You can choose from one-off or regular payments. Review the details of your Rabo Money Mover facility on the confirmation screen and sign off the action with your Digipass.
Important: Whether you are an existing or new client you must complete a 'Rabo Money Mover' form. Please post this form along with your original current account* bank statement for the account from which you would like to withdraw your funds. For example, if you will be linking your primary current account with your RaboDirect accounts this is the statement you must send us (must be dated within the last 6 months). We will return your original statement to you. Please ensure that your account is able to accept direct debit requests.
It takes it takes approximately 7 days to set up, this allows us time to receive your bank statement and validate it. If you have used this external account previously using the Rabo Money Mover facility you just need to go to the FAQ 'How do I set up a Rabo Money Mover?'
* If you have another type of account, such as a savings or deposit account, we would advise that you contact your external bank to confirm the account is suitable for Direct Debits.
- How do I set up a one-off payment/how do I set up a regular payment
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To set up a one-off/regular transfer from an existing payment account, you will need to complete the following steps:
Log into your account using your Digipass and click on 'Transfer Money In' on the left hand menu.
Select the Actions button beside the payment account you wish to use, and select 'Set up one-off transfer' or 'Set up regular transfer'
Select date of transfer and transfer amount (include frequency if applicable) and click on 'Next'.
You can review the details of your Rabo Money Mover facility and then authorise the transaction with your Digipass.
- Is there a cut off time when setting up a Rabo Money Mover?
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The cut off time when setting up a Rabo Money Mover online is 12pm.
So, if you set up a Moneymover online before 12pm the earliest you can transfer funds into your RaboDirect account is the following working day.
If you set up a Moneymover online after 12pm, the earliest you can transfer funds will be in two working days.
Funds cannot be transferred across on the same day.
- How long does it take to set up?
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To set up the Rabo Money Mover facility initially it takes approximately 7 days, this allows us time to receive your bank statement and validate it. If you have used this external account previously using the Rabo Money Mover facility you just need to go to the FAQ 'How do I set up a Rabo Money Mover?'
- When do I start to earn interest when I request a payment using the Rabo Money Mover?
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You will start to earn interest on the date you have requested funds to be withdrawn from your nominated external bank account.
- Can I change the details of my Rabo Money Mover?
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Yes. You can adjust the frequency, amount and dates of transfers at any time once your Rabo Money Mover has been validated by RaboDirect. All you need to do is:
Log in to your account using your Digipass and click on 'Transfer Money' then 'Transfer Money In'.
You'll see details of your payment account on this screeen. Above the payment account, click on the hyper link to view the regular or one-off transfers.
On the summary page that pops up, click on the Actions button and select Change to change the details of this Rabo Money Mover.
Simply follow the instructions on screen and then sign off the action with your Digipass.
- Can I cancel or suspend a Rabo Money Mover?
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Yes. You can cancel a Rabo Money Mover payment online through your RaboDirect Account at anytime up to 12noon on the business day before it is due to debit your main account. All you need do is:
Log in to your account using your Digipass and click on 'Transfer Money'.
You'll see details of your payment account on this screeen. Above the payment account, click on the hyper link to view the regular or one-off transfers.
On the summary page that pops up, click on the Actions button and select Cancel to cancel this Rabo Money Mover.
Simply follow the instructions on screen and then sign off the action with your Digipass.
You will then be shown a summary of the Rabo Money Mover and you will have to authorise the transaction with your Digipass