Tag: bank of Ireland

Bank of Ireland begins rollout of c.650 new ATMs as part of €60m investment in branch network

Bank of Ireland has begun the replacement of its entire ATM fleet as part of a €60 million investment in ATMs and branch improvements.

14 new ATMs have already been installed at Bank of Ireland’s branches in Roscommon town, Drumcondra, Castlebar, and Roscrea with c.150 more to follow (at over 40 locations) this year.

A rolling programme of works between now and the end of 2027 will see c.650 state-of-the-art ATMs installed in all Bank of Ireland branches across the island of Ireland, the Bank’s largest single investment in ATMs in the last decade.

The new ATM fleet has greater cash processing capacity and will slash energy use by more than half. The ATMs can be used for both withdrawals and lodgements and the majority will ‘recycle’ cash (i.e. cash deposited can be used for withdrawals). This maximises ATM availability, supporting customers with better access to cash when they need it. The investment also covers five years of servicing and maintenance.

To support customers with visual impairment, all the new devices have high-contrast screens and give customers the option of plugging into an earphone socket so they can be guided through their transaction by voice assistance.

Commenting on the investment in branches and ATMs, Susan Russell, CEO, Bank of Ireland Retail Ireland said: “As a full-service retail bank with a presence right across the island of Ireland, we are committed to continually improving our services and our customers’ financial wellbeing. This means investing purposefully in branches, contact centres, technology, ATMs and other infrastructure to ensure we have the most modern and efficient banking services available.

Our new ATMs have greater cash processing capacity, are more energy efficient, and have additional accessibility features. Renewing the entire fleet is a major investment but it will enhance our customers’ access to cash. We are excited to see the first new ATMs now installed and we’re pressing ahead with the rollout to the rest of our branches.”

Fraudsters try to make every day April Fool’s Day

This April 1st, Bank of Ireland is warning customers that fraudsters don’t just try to fool you for one day, they are always active and financial fraud can lead to devastating loss of income and savings. The Bank is reminding customers about the top ten fraud types currently reported to its 24/7 fraud team.

According to Bank of Ireland’s fraud reporting data, the most concerning fraud type being used to target customers is investment scams, with smishing texts and vishing calls following closely behind. Further down the list, yet becoming more prevalent, are malware attacks where fraudsters gain access to customers’ devices and access private information, including their banking app.

The 10 most commonly reported frauds are:

  1. Investment scams – promising higher returns on investments that don’t exist.
  2. Smishing texts – scam texts claiming to be from delivery companies and other providers urging you to pay outstanding charges or update account details.
  3. Vishing calls – fraudsters pretend to be from your bank, saying your account has been compromised and they need to move your money to a ‘safe account’.
  4. Purchase scams – fake adverts on genuine websites and social media platforms that promise a slashed price or bargain.
  5. Romance scams – fraudsters build relationships online to manipulate victims into sending them money.
  6. Family impersonation – fake messages pretending to be from a family member who has lost their phone and needs access to money.
  7. Rental and holiday scams – fraudsters trick people into paying rent for property that doesn’t exist or is not actually available to rent.
  8. Money mules – criminals try to recruit people into receiving stolen money into their account, then transfer it to another account and keep some of the cash for themselves as ‘payment’.
  9. Malware – harmful apps that ask for full control of your device allowing fraudsters to control your phone and access private information like your banking app.
  10. Phishing emails – fraudsters send emails that look like they’re from legitimate companies, asking for personal information or login credentials.

Nicola Sadlier, Head of Fraud, Bank of Ireland said: “Fraudsters don’t just try to fool you for one day, they never take a break and are always on. Our latest fraud reporting data shows that investment fraud is still the most concerning scam targeting our customers. The level of highly personalised targeting, with fraudsters promising higher returns on bogus schemes, continues to grow. Smishing texts and vishing attempts continue on a persistent basis. Fraudulent advertisements online and on social media have been the subject of regular warnings for some time and the trend is not going away. And some new types of fraud including accessing devices using malware are happening more often.

“All fraud types are serious criminal activity and there is no room for complacency. Being alert to the ‘red flags’ – including ‘too good to be true’ returns and pressure to act quickly – is vital.

“Bank of Ireland offers a 24/7 fraud telephone support for customers on 1800 946 764, available every day of the year. We encourage our customers to put this number in their phone, so they have easy access to it if they ever need it.”

For detailed advice and information on how to stay safe from all types of financial fraud, visit the Security Zone on Bank of Ireland’s website.

Red flags of Investment Fraud:

  • Follow-up calls: You receive a call having clicked an investment product advert on social media or in a sponsored search result.
  • Higher/fast returns: They promise a quick and profitable return, with little or no risk.
  • Pressure: They advise you must act quickly to take advantage of an “opportunity of a lifetime”.
  • Celebrity Endorsements: Be wary where the investment is being endorsed by celebrities – they may not know their name is attached to the advertisement.
  • Secrecy: They say you’re not to discuss the “investment” with family, friends or your bank and they may instruct you to sign a “non-disclosure agreement” (NDA).

Remember, Bank of Ireland will never:

  • Send you a text or email with a link directly to the login page of our online banking channels asking you to confirm or update your banking details
  • Ask you to click a link in a message with an urgent warning about suspicious activity on your account
  • Ask you to transfer money out of your account to protect you from fraud
  • Ask you to send us back your bank card.

 

Don’t ever share:

  • Your full six-digit 365 PIN or Business On Line credentials
  • Any one-time activation codes or codes from your Business On Line Approve app
  • Your four-digit card PIN.

Anyone who suspects they have been a victim of fraud should contact their bank immediately so that the bank can try to stop the fraud and try to recover funds. Bank of Ireland customers can call the Fraud Team 24/7 on the Freephone line 1800 946 764.

Pace of growth in household spending accelerates in January

Bank of Ireland customers increased their debit and credit card spending for January, with an acceleration in the pace of household spending growth to 6.1%, up from 4.5% in December. This growth, which was broad-based across various sectors, significantly outpaced the current CPI inflation rate of 1.4%, indicating a real gain in consumption of approximately 4%.

A key highlight of January’s spending was a surge in summer holiday planning – travel agencies saw a 50% increase in sales from December, while airline spending rose by 90%. Although year-on-year growth in these categories was modest, spending on hotels and resorts increased by 4.9%.

Spending on sports clubs saw a substantial 23% year-on-year rise, reflecting ‘New Year, New You’ resolutions. However, the January sales season’s impact on retail was less pronounced, with clothing sales down 5% year-on-year, although electrical goods saw a 6.4% increase – November/December are now the most important months for sales of both these items.

Despite the January sales season not providing a significant boost to retail spending, likely due to the prominence of Black Friday and Cyber Monday sales in November and December, spending on services saw a 4.2% year-on-year increase, driven by higher expenditure on travel and other services. ATM withdrawals decreased in January by 2% year-on-year, now accounting for just 12% of total card spending, down from nearly one-third pre-pandemic.

“January’s credit/debit card data showing nominal spending growth of 6.1% is an encouraging sign, showing households’ incomes and expenditure are now growing faster than prices. Notably, cash withdrawals now account for just €1 in every €10 spent by Irish households, well down from one-third just a couple of years ago,” said Conall Mac Coille, Chief Economist, Bank of Ireland.

Looking ahead, Bank of Ireland forecasts a 3% real growth in consumer spending for 2025. “Several indicators support this optimistic outlook, including employment growth at 3.7%, a low unemployment rate of 4%, and average earnings growth of 5%, which is above the CPI inflation rate of 1.4%. Budget 2025 tax cuts, worth 2% of disposable incomes at the average wage, are also expected to bolster consumer spending”, said Conall Mac Coille.

Valentine’s Day is likely to have provided a significant boost to florists, with spending typically rising 5-6 times the normal daily average during this period. There has been a consistent decline in spending on online dating services, down 17% year-on-year in January and 43% since the peak in 2021.

Bank of Ireland sees record Christmas digital banking usage

Analysis of Bank of Ireland customer behaviour between 14 and 24 December has shown record Christmas digital banking usage.

On Thursday, 19 December close to 1.6 million digital banking logins were recorded across Bank of Ireland’s iOS and Android mobile apps, as well as through its online banking website. This is higher digital banking usage than any other peak holiday or shopping period including Christmas, the traditionally busy Black Friday sales, and the Easter holiday season. The peak 2024 login figure is an increase of 4% compared to December 2023.

Biometric logins to the mobile banking app have also grown in popularity, up by 45% in December 2024 compared to December 2023. Over 3 million biometric logins were recorded during the month.

The pre-holiday period analysed saw contactless transactions increasing by 2%, with over 1.9 million contactless transactions recorded on 23 December alone, also making this a record-breaking figure for contactless transactions by Bank of Ireland customers. And, while digital banking and contactless payments increased, the number of ATM transactions fell 12% in December 2024 compared with the same date range (14 – 24 Dec) in 2023.

Ciarán Coyle, Group Chief Operating Officer, Bank of Ireland said: “As demonstrated by these latest figures consumers really value the speed of digital banking, especially during particularly busy holiday and shopping periods. We pair that digital service with telephone and branch options for more complex matters or bigger decisions. Being able to bank from anywhere – home, office, or on the move – is one of the greatest benefits of digital banking and that’s why we are focussed on continuing to invest in and enhance our digital banking services.”

BOI – Urgent Fraud Alert – Live Chat Scam

Bank of Ireland is warning businesses about a recent increase in ‘Live chat’ scams. Fraudsters are mainly targeting business banking customers with this scam, duping them into allowing remote access to their computers and bank accounts.

Fraudsters are calling customers pretending to be from Bank of Ireland, claiming that their account has been compromised, directing them to a live chat service or to download software to your computer, and asking for card details, online banking details and activation codes.

 What happens?

  • The customer gets a phone call from someone claiming to be from Bank of Ireland.
  • The caller asks the customer to log into their online banking as normal.
  • The caller (fraudster) then asks the customer to go to another new website address, saying that this is: “for a live chat service” or “to verify the customer’s PC”, but in reality it allows the fraudster remote access to the customer’s PC. The fraudster can now see the customer’s screen and access all of the customer’s files and programmes.
  • The caller will set up payments on the customer’s online banking and ask the customer to read out the one-time codes from their BOI app to approve the payments.

 

Bank of Ireland’s advice

  • If you get a call from someone who asks you to go to a website or to click on a link that they will send to you, just hang up.
  • Never allow a caller to take remote access of your PC.
  • If someone asks you for a one-time code from your online banking app, they are a fraudster. Never, ever share those codes with anyone, even if they say they are from Bank of Ireland.
  • Be very careful when logging on to your online banking website. The safest thing is to type in the website address yourself or to log in through the main Bank of Ireland website at bankofireland.com

 

Nicola Sadlier, Head of Fraud, Bank of Ireland said: “We’ve had an increase in reports into our fraud line in recent days so we want to warn businesses in particular to be extremely alert to this scam. Fraudsters try to convince people to allow access to their PCs via a fake ‘live chat’, where they can then access business customers’ online banking, and other personal files and information. Never allow a caller to take remote access of your PC.  If someone asks you for a one-time code from your online banking app, they are a fraudster.  Never share those codes with anyone, even if they say they are from your bank. If you get a call like this, just hang up.”

Consumer Alert: Budget 2025 energy credit announcement sparks new fraud attempts – Bank of Ireland

Bank of Ireland is warning customers to be very vigilant to a wave of new fraud attempts following the announcement of a range of new energy credits this week.

Fraudsters often use topical events that are the subject of a lot of media coverage and commentary – in this case, energy credits announced in the recent Budget – to defraud consumers.

Bank of Ireland is seeing cases where customers receive an SMS pretending to be from the Irish Government (Gov.ie) saying they are eligible for a discounted bill under the new energy credit. However, this is just the first step in a scam designed to get the consumer to hand over their personal banking details.

How it works:

 

  • The consumer receives a text – pretending to be from an official Government source – telling them they are eligible for an energy credit.
  • The consumer replies to this and provides their personal contact details.

  • The fraudster then calls the consumer and pretends to be from their bank. The fraudster informs the consumer that they responded to a fake text and that now their debit/credit card, PIN, and phone sim card are compromised. The fraudster says someone from the bank, or a courier is on their way to collect the consumers card, PIN, and phone sim card.
  • In some cases, the consumer is kept on the phone to the fraudster until the person from the ‘bank’ or courier company arrives at their house.
  • Once they have taken these, fraudsters can then use the card for high value items, using chip & PIN.
  • Unfortunately, because the consumer believes they have been speaking with their bank, it can take some time before they realise that they are the victim of a theft and report this to their actual bank.

Nicola Sadlier, Head of Fraud, Bank of Ireland said: “Fraudsters are like chameleons. They design their scams to blend in with what’s in the news. But like all their criminal activity, this is just another attempt to steal your money.  

“There are new fake texts in circulation from “GOV IE” telling consumers they are eligible for a discounted electricity bill. These are smishing texts, and when the customer responds, they get a call from the fraudster posing as a bank employee informing them that their debit/credit card, PIN and phone sim card have been compromised. The fact that this call is followed by a fraudster calling to the victim’s house to collect the “compromised” card and phone sim card is of particular concern. 

“Be extra vigilant.  Fraudsters want your personal information, even if it’s simply your phone number. Do not give it to them.”

Bank of Ireland’s advice to customers in response to the current activity:

  • Do not click on links or respond to any SMS text messages which are designed to appear as if sent by the bank or other businesses and service providers.
  • If you receive a suspicious call, hang up and don’t call back any number the caller may have given you.

Remember:

  • Bank of Ireland will never send you a text with a link to a website that asks you for your online banking login details or any One-Time Passcodes that we’ve sent to you.
  • Bank of Ireland will never, ever, call you and ask for your security credentials such as your full 365 PIN, card details, one-time codes, or codes from your Business On Line Approve App.
  • Where customers receive a text appearing to be from Bank of Ireland, the Check Your Text service (Security Zone – Bank of Ireland Group Website) is now available.
    • If you get a text that claims to be from Bank of Ireland but you are not sure if it’s genuine, here’s how to verify it:
    • Copy the text you wish to verify.
    • Paste into a new message.
    • Add the word CHECK before the text. (In the same text)
    • Send to 50365.
    • Alternatively send it to 365security@boi.com

If you think you may have given away any of your banking details, please call our 24/7 Freephone line 1800 946 764 immediately.

Rise in Purchase Scams Duping Consumers – Bank of Ireland

Bank of Ireland is warning consumers about a new wave of purchase scams which is luring consumers to make payments for goods and services through an advertisement online, which then transpires to be fake.

In the last year, there has been a 32% increase in purchase scams reported to Bank of Ireland. From relatively low value items such as clothes and trainers, through to holiday home deposits and even cars, consumers are often lured by the false promise of a slashed price or bargain and asked to pay directly, sending money from their bank account to another via bank transfer, which provides little protection.  Once the payment is transferred, the seller usually cuts all contact, and the product or service never arrives.

Providing practical advice for consumers, Nicola Sadlier, Head of Fraud at Bank of Ireland, said: “Fraudulent advertisements online and on social media have been the subject of regular warnings for some time. This alarming trend is not going away, even with increased awareness among the general public, and repeated calls for websites and search engines to remove the adverts.  These fake ads should be caught before they are published online, but many are not.

It’s unacceptable to see fraudsters operating so openly through online advertisements. No company should be generating advertising revenue from criminals – search engines, websites and social media platforms really need to step up and crack down. Our advice to consumers is don’t click on these adverts, ignore them completely, and if something sounds too good to be true, it’s probably fraud.”

Bank of Ireland’s advice in response to the current wave of purchase scams:

  • Research and read reviews to check the site and the seller are genuine.
  • Be alert to poor grammar and spelling, or vague product descriptions.
  • Go directly to the online shopping site by typing the web address into your web browser.
  • Links in unsolicited emails or on social media are not always safe and should be avoided.
  • Use secure payment methods, try and pay by debit or credit card, or the secure payment method recommended by reputable online retailers and auction sites, as this could give you more protection.
  • Never agree to buying vouchers or other items for someone as a way to pay for something else.
  • Always view large purchases in person prior to making full payment for them.
  • If people suspect they have been a victim of fraud they should contact their bank immediately so that the bank can take action to stop a fraud in progress and try to recover funds. Bank of Ireland customers can call our Fraud Team 24/7, on the Freephone line 1800 946 764. 

Bank of Ireland is hosting a series of fraud awareness events in branches around the country, where its fraud and security teams will provide advice to members of the public and business owners on the latest fraud trends in circulation and tips on how to safeguard their finances.

For full listing of fraud awareness events and advice and information on fraud visit the Security Zone the Bank of Ireland website.

Bank of Ireland investing additional €34 million in customer service improvements

Bank of Ireland has announced a major additional investment in customer services with more than €34 million in the transformation of its telephony and Customer Relationship Management (CRM) systems.

This investment in technology will lead to faster resolution of customer calls, enhanced self-service options (change account address, order duplicate statements, request a new card), allow more transactions to take place 24/7 via phone, and improved customer security. The investment will:

  • Provide 2,800 colleagues in branches and contact centres with quick ‘single view of customer’ data for faster call resolutions
  • Use voice biometrics to improve customer authentication for better fraud protection and reduce call waiting times
  • Enable more streamlined phone-based transactions which can be done 24/7, including improved customer verification methods, and removing complex menus

This latest announcement brings the total spend being made by Bank of Ireland on a range of customer service improvements to close to €150 million to the end of 2025.

Commenting on the investment, Susan Russell, CEO, Bank of Ireland Retail Ireland said:

“This is the largest single investment in enhanced systems and technology for our frontline colleagues in branches and contact centres that the Bank has ever made. We receive more than 11,000 calls on average each day and when customers call us they want speed, expertise and security. This investment equips colleagues with the latest technology to provide better and faster resolution of calls, and colleagues will now have a ‘single view’ of the customer at the touch of a button providing them with instant access to all their information without having to talk to another part of the bank. This investment will make things faster and better for customers and for colleagues, it’s a win-win.”

In January Bank of Ireland announced an investment of more than €60 million in a range of branch improvements, including the Bank’s largest single investment in ATMs in the last decade. The Bank also announced spending of €50 million on customer fraud prevention and protection in February including investment in new technology.

If you are a Bank Of Ireland customer you may need to change your phone

If you are a Bank Of Ireland customer you might need to upgrade your smartphone to continue to use their digital services, this is because of security reasons and support of older devices which is running older software.

The 31st March is the date given to change your device if you use the app which is not much notice to be honest and for those who like to tamper with their device and use Huawei devices your luck is also out as they will not support either.

BOI says

Device manufacturers regularly update the software and hardware they use. When they do, older operating systems are discontinued, and older software which has become outdated is no longer supported. Apps including ours must stay up to date with updates, so that customers can continue to have access to new and existing features.

 

Devices supported are Android phones and tablets using Android version 11 or higher and iPhones and iPads using iOS version 15 or above so now would be a good time to go and check if you need to update your device

 

Mobile Operating System Support Policy

Update your device before 31 March 2024

31 March is a key date for any customer with an operating system on their device that is older than those mentioned below. After this date we will no longer offer support for these operating systems. Importantly, customers will not be able to download a new instance of the Bank of Ireland mobile app again on that device.

Your device may be running on one of the following affected operating systems:

  • iOS (Apple) devices using operating systems 14 and lower
  • Android devices using operating systems 10 and lower

Why updating is important: If your device is running on one of these older operating systems, and you do not update the device by 31 March, the existing version of the BoI app that you use today may not work. If you delete the app, you will not be able to reinstall it on that device. In other words, your phone or tablet will no longer work for mobile banking. The only fix for this is to update your device before 31 March.

Why is this happening? Device manufacturers regularly update the software and hardware they use. When they do, older operating systems are discontinued, and older software which has become outdated is no longer supported. Apps including ours must stay up to date with updates, so that customers can continue to have access to new and existing features.

Devices and operating systems that we support

We support the following smart devices and operating systems only:

  • Android phones and tablets using Android version 11 or higher
    Available from the Google Play store
  • iPhones and iPads using iOS version 15 or above
    Available from Apple store

Restrictions

  • Windows and Blackberry phones are not supported.
  • The app is not available for download from the Huawei app store.
  • Biometric login using face or fingerprint cannot be enabled on rooted Android or jailbroken iOS devices, in other words devices where any of the manufacturer’s software restrictions have been removed.

Source

UPDATE 28/8/24  Bank Of Ireland have now said they are extending the date till July 1st if you can’t use phone or tablet you can still access via your web browser or PC with a PSK (Physical Security Key)