The Gazette 1967/71

Irish Banks Standing Committee, Bank of Ireland, Dublin 2. 2nd December 1968.

resolved if they are brought to the notice of the individual banks concerned. Yours faithfully, R. F. BRENNAN Secretary.

Eric A. Plunkett, Esq. Secretary, The Incorporated Law Society of Ireland, Solicitors Buildings, Four Courts, Dublin 7. Bank Giro Dear Sir, I have received your letter dated 22nd instant in the above matter. With regard to the points raised therein I should like to explain that the Bank Giro promotion is an effort by the banks to establish a simple and efficient money transfer service for the benefit of the community. It is appreciated that Bank Giro may create certain difficulties initially for some accounting proce dures, but it is hoped that through consultation with the banks at local level such problems as do arise can be avoided or overcome. The particular service which is causing concern to some members of your Society is not new, but has been in operation since 1961 under the title of the Credit Transfer System. Incorporating it under the new name of "Bank Giro" has not changed the old procedure. I might point out that if a debtor is to make direct payments to the account of his creditor, the former must know the name of the latters bank, and this information is normally not avail able unless the creditor provides it on his invoices or requests for payment. I would suggest that the absence of this information together with an indi cation that Giro payments are not acceptable should effectively discourage the use of the system if this is the wish of the creditor. It is obvious to us, however, that there is a large percentage of debtors and creditors who are anxious to avail of this system and our action in promoting it is designed to meet this desire and provide for Irish bank customers the same service and facilities which are already available in prac tically every other European country today. I hope that your members will understand that in trying to keep abreast of modern requirements and up to date methods my committee are most anxious to ensure that inconvenience to any sec tion of the community is avoided. I believe, how ever, that any difficulties which your members may envisage or experience can be satisfactorily

Incorporated Law Society of Ireland, 4th December 1968.

To: The Secretary, Irish Banks Standing Committee, Bank of Ireland, College Green, Dublin 2. Bank Giro Dear Sir,

I refer to correspondence on this matter and to my subsequent telephone conversation with your Mr. Black. Apart from the matters already raised in my correspondence with the Bank of Ireland there appears to be a further difficulty. Even assuming that a solicitor instructs his bank not to accept payments into his personal or office or client bank accounts through the Giro pay ments might still be made by a debtor direct into the account of a client of the solicitor who had instructed the solicitor to institute proceedings for a debt against that debtor. If a payment were made by the debtor direct into the customer's account and if the customer were not aware of it proceedings might be instituted by the solicitor quite innocently for a non-existent debt or for a sum in excess of the amount due to the client. It would seem that this is a matter which de serves your consideration. Yours faithfully, ERIC A. PLUNKETT. Secretary.

Irish Banks Standing Committee, Bank of Ireland, Dublin 2. 6th December 1968.

To: Secretary, Incorporated Law Society of Ireland, Four Courts, Dublin 7. Bank Giro Dear Sir, I have your letter of the 4th December bringing to my attention a possibility which, in your opinion, deserves the consideration of my com mittee. 95