Business Banking Support

Try our new self service options and FAQs to find the right support for your query

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FXPAY

  • How do I book a deal?

    Option 1:

    1. On the homepage, choose the currency you want to buy and the currency you want to sell. Then choose an amount and payment date.
    2. Click ‘Get a Quote’. This will then offer you a rate, which will appear for a timed countdown, usually 10 seconds.
    3. If the market rate changes within the countdown, your rate will change, otherwise the rate will remain the same.
    4. To book the deal, Click ‘Deal’. You will the see an on screen confirmation that you have booked a deal and you will be offered the option to make a payment using this deal now or later. You will also receive an email confirming the deal.

    Option 2:

    1. Choose ‘Book a Deal’ in the Deals page or in the Quick Action Panel on the bottom left of the page.
    2. Choose the currency you want to buy and the currency you want to sell. Then choose an amount and payment date. Once all details have been filled here a rate will appear for a timed countdown, usually ten seconds. If the market rate changes within the countdown, your rate will change, otherwise the rate will remain the same.
    3. To deal, click ‘Deal’.
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  • Can I combine two deals to make a payment?

    You can only use one deal when making a payment. However, you can call your dealer to enquire about topping up an existing deal. If you have two deals worth £10,000, you cannot combine them to make a payment, but you can top up one deal by £10,000 to then make a payment of £20,000.

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  • What does 'Payment Date' mean?

    When you book a deal, the payment date you choose defines the type of deal booked. If you choose today’s date, the   deal automatically becomes a spot contract, requiring payment details to be added within two business days. If you   choose a date later than two days after the date the deal was booked, it becomes a forward contract with payment details required on the date you choose. You can choose to add an ‘Early Take Up’ date to a forward contract if you wish.

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  • What does 'Early Take Up' mean?

    When booking a deal that is a forward contract (i.e. it has a value date of more than two days), you will be given the option of choosing an early take-up date. This means you are creating a time frame beginning at the early take up date and ending on the payment date during which you can make your payment. If you choose to enter this date, this means you can make a payment earlier than the deal payment date. When you choose a deal to display in the Deals panel, you will be able to see if ‘Early Take-Up’ applies and the date where this is available.

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  • How far forward can I book a forward contract?

    If you have permission to deal, you can book forward contracts up to a value date of 12 months into the future.

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  • Can I change the maturity date on a forward contract?

    No, you can’t change the maturity date on a forward contract.

    However, when booking a deal which is a forward contract, e.g. has a value date of more than two days, you will be given the option of choosing an early Early Take Up Date. This becomes the earliest date you can make a payment. You can then make a payment any date between the Early Take Up Date and the Payment Date. When you choose a deal to display in the Deals panel, you will be able to see if ‘Early Take Up’ applies.

    If you have not chosen ‘Early Take Up’ when booking, you can call your dealer to discuss your options.

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  • Can I extend a forward contract on the system?

    No, unfortunately you cannot extend a forward contract on the system. You can call your dealer to discuss any requirements around extending forward contracts.

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  • What hours am I able to Deal?

    Users with dealing permissions can deal five days a week, from 8am on Monday morning to 8pm on Friday night. The rates available will be the latest market related rates as set out in the Bank of Ireland FXPay terms and conditions. Payments can be sent for processing or authorised at any time. Payment Cut-off times still apply when sending payments and are set out on ['What are the Payment Cut-Off Times?'](Link to the FAQ What are the Payment Cut-Off Times?)

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  • How do I cancel a deal?

    To cancel a deal, you will need to call your dealer. Your dealer contact details will always appear at the top right hand panel of the system. Your dealer will then talk you through the deal cancellation.

    To cancel a deal: Contact your dealer or phone us on

    Republic of Ireland 00 353 (0) 76 6244300
    Northern Ireland 00 44 (0) 28 9032 2778

    Available 8am - 6pm, Monday - Friday (excluding bank and public holidays)

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  • What is an Inbound Deal?

    An ‘Inbound Deal’ is a rate booked for a currency payment you are expecting to receive into your account. It allows you to agree a rate for conversion into your account before you receive the payment.

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  • How do I book a rate for an inbound deal?
    1. Choose ‘Book an Inbound Rate’ in the Inbound page.
    2. Choose the currency you are due to receive from the ‘I want to sell’ dropdown, then enter the amount. You can also choose the amount you want to buy in Euro and it will show you the foreign currency amount you will have to send to receive this. This is the currency coming into your account. Enter the date the payment is expected.
    3. Once all details have been filled here, a rate will appear for a timed countdown, usually ten seconds. If the market rate changes within the countdown, the rate will update accordingly, otherwise the rate will remain the same. The currency amount which will be due to your account will also update.
    4. To deal, click ‘Submit’.
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  • How do I make a payment?

    Choose ‘Make a Payment’ in the Payments page or in the ‘Quick Action’ Panel on the bottom left of the page.

    1. Choose the deal you want to use for the payment. You can make a payment for some or all of the balance of the deal chosen. You should choose a deal with a currency balance of the same currency as the payment you want to make. The deal you choose should be equal to or greater than the payment you want to make. If you don’t use all of the deal to make a payment, you can make another payment with the remaining amount.
    2. Enter the payment details.
    3. Choose the amount you want to pay- it will default to the balance of the deal you are using. Choose the Fee Policy (Shared, You Pay, Payee Pays- explained in ["What does 'Fee Policy' mean?"](Link to the FAQ)), Pay To and Pay From Accounts, and enter a Reason for Payment.
    4. Click submit. Depending on your user permissions, the payment will either be sent to an Authoriser to authorise the payment, or you will be notified that the payment has been sent for processing.
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  • When will my payment be made? Does this affect cut-off times?

    When you make a payment, you choose the payment date. The cut-off times for making a payment remain the same. If you authorise a payment online before the cut-off time, the payment will issue that day, otherwise, the payment will issue on the next available payment date. The system will prompt you if the cut-off time has passed and advise you of the new date.

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  • What are the Payment Cut-Off Times?

    Republic of Ireland

    Currency For Same Day Payments: Instruction must be receevied before: Standard 2 Days Payment: Instruction must be received before:
    Sterling Payment 10:30am 4:00pm(2 days prior to payment date)
    US Dollar Payment 1:30pm 4:00pm(2 days prior to payment date)
    Euro Payment 12:30pm 4:00pm(2 days prior to payment date)
    Non-Legacy Payment n/a 4:00pm(2 days prior to payment date)
    Account transfer to another BOI Account (ROI) 3:00pm n/a

    Northern Ireland

    Currency For Same Day Payments: Instruction must be received before: Standard 2 Days Payment: Instruction must be received before:
    Sterling Payment 12:00pm 4:30pm(2 days prior to payment date)
    US Dollar Payment 12:00pm 4:30pm(2 days prior to payment date)
    Euro Payment 12:00pm 4:30pm(2 days prior to payment date)
    Other Currencies 4:30pm 4:30pm(2 days prior to payment date)
    Sterling Payment to (ROI) 10:30am 4:30pm(2 days prior to payment date)
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  • What does 'Fee Policy' Mean?

    For payments where a currency conversion applies and for all payments involving currencies other than EEA currencies, you have the option to pay the other bank’s charges, in addition to our charges. Bank of Ireland FXPay allows you to choose how payment fees are shared between you and your payee. The examples below relate to Republic of Ireland customers only. For Northern Ireland customers, please refer to your schedule of Fees and Charges.

    Shared:

    This is the standard method for allocating international fees. This means that you pay Bank of Ireland’s payment fee and your payee pays their banks fee. For example, if you decide to share fees, you will be charged €0 for processing a standard non urgent payment, and €20 if you opt to process an urgent same day payment until 01/01/17.

    You Pay:

    This means that you are electing to pay both Bank of Ireland’s fee and the foreign bank fee. In this case a €7 charge will be applied to your account. This covers charges levied by a foreign bank up to an amount of €20. If however, the foreign bank charges exceed €20, then you will be retrospectively charged with the difference (for example, if the foreign bank charges €40, you will be debited €33 - taking into account the €7 already paid). Some foreign banks have no upper limit on payment charges and can typically take up to 4 weeks for these charges to be passed to Bank of Ireland customers. However, on occasion this can take considerably longer (e.g. up to 3 months).

    Payee Pays:

    This means that you are electing that your payee pays Bank of Ireland’s fee along with the foreign bank fee. This means that your payee will receive less than the instructed amount. For example, if you want to make a payment for €10,000 to your payee. If you decide that the ‘Payee Pays’ in the fee details on the payment instruction, then your customer would normally receive a smaller amount of €9,995 = €10,000 - €5 fee from 01/01/2017.

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  • How are my 'Pay From' account(s) set up?

    The ‘Pay From’ accounts are set-up from the details supplied in the Annex you completed when setting up Bank of Ireland FXPay. In order to add any additional Bank of Ireland accounts, you will need to send us an amendment form. Your dealer can send you on the relevant form to complete and send to us.

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  • Will I receive a payment confirmation?

    We currently don’t provide a confirmation of payment receipt. However, when a payment has been sent for processing, you will receive an email confirmation. This email confirmation is not proof that the payment is received, but that it has been added to the payment queue. You can also print a PDF payment advice for each payment on Bank of Ireland FXPay.

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  • How do I cancel a payment?

    If you want to cancel a payment, you need to call our helpdesk. Be sure to clearly explain that it is a currency payment sent through Bank of Ireland FXPay to allow prompt support from our Helpdesk.

    To cancel a payment, phone us on:

    Republic of Ireland (01) 6094314
    Northern Ireland (0845) 6015599

    Available 9am - 5pm, Monday - Friday (excluding bank and public holidays)

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  • How do I add/ upload my payees?
    1. Choose ‘Add a Payee’ in the Payee page or in the ‘Quick Action’ Panel on the bottom left of the page.
    2. Enter the:
      • Payee Short Name or nickname.
      • Payee Name.
      • Address.
      • Country.
      • Currency.
    3. After choosing the country, you will then see an asterisk* beside the fields you need to complete in order to add a payee from that country. Fill in these fields.
    4. Complete Intermediary details if applicable.
    5. Enter a ‘Reason for Payment’ for this payee.
    6. Click save.

    Depending on your user permissions, the payee will either be sent to an Authoriser to authorise the payee, or you will be prompted to authorise the payee. (Please see ‘Authorising a Payee’ below).

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  • How do I edit/amend a Payee?
    1. Click on the ‘Payee’ panel on the left hand navigation to access the Payee page.
    2. On the Payee Panel, choose the payee you want to edit/amend. You can find the payee by checking the authorised drop down on the top right. Click on the payee you want to edit.
    3. You can then click the orange ‘Edit’ button on the Payee View Panel, which will give you the option to change the payee details, similar to entering a new Payee.
    4. Click Save. Depending on your user permissions, the payee will either be sent to an Authoriser to authorise the payee, or you will be prompted to authorise the payee edit. (Please see ‘Authorising the addition/amendment of a Payee’ below).
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  • How do I Authorise a Payee?

    For all changes to Payee details, you will need to use your Digipass.

    Authorising the addition/amendment of a Payee.

    To authorise an addition or change to a Payee, you’ll need your Digipass. After you click on the Authorise button, a pop-up box will appear with the following instructions.

    1. Turn on your Digipass by pressing the red button.
    2. Enter Your 5 digit PIN and press the green button.
    3. A message ‘SELECT I or S’ is displayed on the Digipass screen.
    4. Press the ‘I’ button twice. ‘VERIFY’ is displayed on your Digipass screen.
    5. Press the green button to continue. ‘HASH’ is displayed on your Digipass screen. A unique code will be displayed on the screen beside the heading ‘Source’.
    6. Input the unique code displayed into your Digipass and press the green button. A Message Authentication Code (MAC) is displayed on the Digipass.
    7. Enter the MAC code in the MAC field onscreen and click ‘Verify’. You should then be prompted that you have successfully authorised the payee addition or amendment.

    Authorising the deletion of a Payee.

    To authorise the deletion of a Payee, click on the Payee awaiting deletion in the ‘Awaiting Authorisation’ list. After you click on the ‘Authorise’ button, a pop-up box will appear with the following instructions.

    1. Turn on your Digipass by pressing the red button.
    2. Enter Your 5 digit PIN and press the green button.
    3. A message ‘SELECT I or S’ is displayed on the Digipass screen. Press the ‘I’ button once. ‘VERIFY’ is displayed on your Digipass screen.
    4. Press the green button to continue. ‘LOGON’ is displayed on your Digipass screen. Press the green button to continue.
    5. A 6-digit One Time Password (OTP) is displayed on the screen.
    6. Enter this code into the One Time Password field onscreen and click ‘Verify’. You should then be prompted that you have successfully authorised the Payee deletion.
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  • How do I reject a Payee addition/amendment?

    Choose the Payee awaiting Authorisation. Details will appear in the Payee Details screen. To reject a Payee addition or amendment, simply click on the ‘Reject’ button.

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  • What are the Order Types and what do they mean for me?

    Depending on your permissions, you may be able to place an order on the system. Essentially, this is the ability for you to set parameters for when you would like to execute a spot deal depending on the rate. The different type of limit orders are explained below.

    A spot deal:

    A deal booked to make a foreign currency payment within the next two days.

    FX Order:

    The customer places an order to buy or sell currency on or before a certain date (‘Expiry Date’) at an agreed rate. The customer agrees a rate which is more favourable than currently available in anticipation of benefitting from more favourable market conditions. If the rate becomes available on or before the Expiry Date, the deal is executed as a Spot Deal.

    For example. a customer has a need to buy sterling and sell euro and the current market price is 0.70 or 70p. The customer has the view that the market will move in their favour and is targeting 72p. The customer places an order to buy £10,000 sterling if the rate hits 0.72 or 72p before the Expiry Date. If the rate becomes available on Bank of Ireland FXPay before the Expiry Date, then the order will automatically become a deal booked for the rate and amount specified. The customer will receive an email to notify them that the deal has been executed. If the market doesn’t reach 0.72 or 72p before the Expiry Date, nothing happens and the order expires. An email will issue when your order expires.

    WARNING: THESE PRODUCTS MAY BE AFFECTED BY CHANGES IN CURRENCY EXCHANGE RATES.

    Stop Loss:

    The customer places an order to buy or sell currency on or before the Expiry Date at an agreed rate. In anticipation that market conditions will deteriorate, the customer seeks to agree a rate in order to “put a stop” on losses. If the rate becomes available on or before the Expiry Date, the deal is executed as a Spot Deal.

    For example. a customer has a need to buy sterling and sell euro and the current market price is 0.70 or 70p. The customer has the view that the market will move against them and is targeting 0.68 or 68p. The customer places an order to buy £10,000 sterling if the rate hits 0.68 or 68p before the Expiry Date. If the rate becomes available on Bank of Ireland FXPay before the Expiry Date, then the order will automatically become a deal booked for the rate and amount specified. The customer will receive an email to notify them that the deal has been executed. If the market doesn’t reach 0.68 or 68p before the Expiry Date, nothing happens and the order expires. An email will issue when your order expires.

    One Cancels Other (OCO):

    This is a pair of orders which are essentially a combination of an FX Order and a Stop Loss. The customer agrees a minimum and a maximum conversion rate at which they wish to deal. The customer seeks to obtain some benefit from favourable market movements but also to limit their losses. Whichever rate first becomes available on or before the Expiry Date, the deal is executed as a Spot Deal.

    For example. a customer has a need to buy sterling and sell euro and the current market price is 0.70 or 70p. The customer has the view that the market may move in either direction. The customer wants to capitalise on any movement in their favour (allows them to pay less euro for a sterling amount) but also wants to limit the loss if the market moves against them (need to pay more euro for a sterling amount). Therefore, the customer places an OCO for two rates, targeting 0.68/68p or 0.72/72p. The customer places an order to buy £10,000 sterling if the rate hits either 0.68/68p or 0.72/72p before the Expiry Date. If the rate becomes available on Bank of Ireland FXPay before the Expiry Date, then the order will automatically become a deal booked for the rate and amount specified. The other order will then be cancelled. The customer will receive an email to notify them that the deal has been executed. If the market doesn’t reach 0.68/68p or 0.72/72p before the Expiry Date, nothing happens and the order expires. An email will issue when your order expires.

    Track a Rate:

    This allows you to track a rate over a your specified time period. You simply input the target rate for the particular currency conversion you wish to track (e.g. Euro/Sterling) and you will receive an email alert is the specified target rate for that currency conversion becomes available on Bank of Ireland FXPay. This is not an order, but simply an alert. Please note, it is not guaranteed that this rate will be available when you next login to Bank of Ireland FXPay. You will also be notified by email once the time period you have specified for tracking this rate has expired.

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  • What are the different permission levels?

    Each User is assigned permissions according to the Annex to Account Mandate completed.

    Bank of Ireland FXPay Permissions Explained

    All users have the basic ability to:

    • View Deals.
    • Add Payment Details.
    • Add Payee Details.

    Optional User Permissions:

    FX Dealing:

    You can grant Users permission to book the following types of deals:

    • Spot - A deal booked to make a payment within the next two days.
    • Forward - A deal booked to make a payment in more than two days’ time.

    Making Payments:

    • Limited Authorisation - This grants the User permission to authorise payments added by other people in the company. They cannot authorise payments they have added.
    • Full Authorisation - This grants the User permission to authorise payments added by everyone, including their own. This is the highest level of payments permission.

    Adding/Amending Payees:

    • Limited Authorisation - This grants the User permission to only authorise payee details added by other people in the company. They cannot authorise payments they have added.
    • Full Authorisation - This grants the User permission to authorise payee details added by everyone, including their own, on the system. This is the highest level of payee permissions.

    System Administrator:

    The Administrator permissions allow the User to enable/disable every other user from the system instantly, if the need be. It also grants the User access to view the permissions of every other User in the company on Bank of Ireland FXPay.

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  • How do I change my permissions?

    To change permissions, you will have to send us in a written request. Contact your dealer or download the amendment form online. To add a new user, you need to fill in the details required, sign it and return it to the address on the form. In the meantime, if you want to just restrict a User’s access your Administrator can do so on the Administration page.

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  • One of my employees has left the company, can I remove their access?

    In order to remove the employee from the list of users, you need to send us in written instructions to delete the user. Your dealer can send you a copy of the amendment form or you can download the amendment form online. To delete a user, you need to fill in the details required, sign it and return it to the address on the form. However, you can enable or disable users whenever you want if you are the Administrator for your company.

    • Simply, click on the Administration Panel.
    • Choose the User you want to disable.
    • Untick the enabled box for the User and then click Save.
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  • How do I add a new user?

    To add a new user, you will have to send us in a written request. Contact your dealer or download the amendment form online. To change permissions you need to fill in the form and return it to the address on the form.

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  • What is my password for Bank of Ireland FXPay?

    You will receive a password in letter 1 of your welcome pack. When you first login you will be prompted to change your password for Bank of Ireland FXPay. The password must be a combination of both letters and numbers (minimum 2). The minimum length of a password is 6 characters. You will be required to change your password every 90 days.

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  • What if I forget my password for Bank of Ireland FXPay?

    To protect the security of the accounts, you will have to ring our helpdesk if you forget your password. You will be allowed 8 attempts before you are locked out of the system. The Helpdesk number is (01) 6094314 for the Republic of Ireland and (0845) 6015599 for Northern Ireland. If you have your Bank of Ireland FXPay user ID ready, they will be able to reset your password following some routine security questions. Be sure to clearly state that you want to reset your Bank of Ireland FXPay password to ensure we can promptly help you.

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  • The system logged me out, why?

    Security is very important to us. The system is configured to log you out for security reasons after 15 minutes of inactivity. You can re-login straight away using your login details and Digipass, which protects the security of your account.

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  • What do I need my Digipass for?

    In order to ensure maximum security and protection for your account, every user has a ‘two factor’ authentification process to login to the system and make changes to Payees.

    Two factor authentification means you have the security of your password and also a security tool - the Digipass, that works off a timing algorithm to minimise security risk. Further details on the Digipass are available in the Digipass User Guide which is sent to every user.

    Two factor authentication is a security measure we champion to minimise risk to our customers.

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  • What Browsers is Bank of Ireland FXPay compatible with?

    The website is available on all browsers, for the best experience, we recommend that you use one of the following:

    • Google Chrome.
    • Internet Explorer 11.
    • Mozilla Firefox.
    • Safari.
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  • I am having difficulty logging in, what's the problem?

    The two most common reasons for a failed login are that incorrect login details were entered.

    An error message appears saying “Invalid name and password combination, please re-enter” - Is your username and password correct?

    The username and password is case sensitive, so make sure you have entered it correctly. If you cannot remember the password you set up at initial login, you can ring us to re-set the password The Helpdesk number is (01) 6094314 for the Republic of Ireland and (0845) 6015599 for Northern Ireland. If you have your Bank of Ireland FXPay user ID ready, they will be able to reset your password following some routine security questions. Be sure to clearly state that you want to reset your Bank of Ireland FXPay password to ensure we can promptly help you.

    An error message appears saying “Authentication has been rejected”- Are you using the correct digipass?

    Your digipass is mapped specifically to you and is activated prior to your login. Make sure you are using the digipass (marked blue) and not the backup digipass (marked yellow). Your backup digipass is not activated and it is a spare in case you lose your main digipass.

    If you forget your PIN or enter a wrong PIN nine times, your digipass will be locked. If you do this, you can contact the helpdesk to activate your spare/back-up digipass. The Helpdesk number is (01) 6094314 for the Republic of Ireland and (0845) 6015599 for Northern Ireland.

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  • What currencies are available on Bank of Ireland FXPay?

    The following currencies are currently available:

    • Canadian Dollar (CAD)
    • Euro (EUR)
    • Sterling (GBP)
    • US Dollar (USD)
    • Australian Dollar (AUD)
    • Polish Zloty (PLN)
    • Hong Kong Dollar (HKD)
    • Swiss Franc (CHF)
    • New Zealand Dollar (NZD)
    • Swiss Franc (CHF)
    • South African Rand (ZAR)
    • Hong Kong Dollar (HKD)
    • Swedish Krona (SEK)
    • Japanese Yen (JPY)
    • Danish Krone (DKK)

    If we add any more currencies, we will update this list.

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  • It's my first login, what do I do?

    Step 1: Create your unique 5 digit Digipass Personal Identification Number

    1. Make sure you use the correct digipass (marked blue). You will be issued with two digipasses and you should make sure you use the correct digipass and not the back-up (marked yellow).
    2. Turn on the Digipass by pressing the red button. New devices will display NEW PIN
    3. Enter a 5-digit PIN (this should be unique to you)
    4. Press the green Enter button
    5. Re-enter your new PIN to confirm. Your Digipass will now be active with your 5-digit PIN
    6. Please note: It is important to remember this PIN and also keep it confidential to you. If you forget your PIN, you will need to order a new device.

    Step 2: Use your Username and Password from your welcome letter

    1. Your Username and Password for your initial login will be sent to you in a letter
    2. You should use these for your initial login and make sure you enter them as written on the letter as they are case sensitive

    Step 3: Login to Bank of Ireland FXPay

    1. Visit www.bankofireland.com/fxpay
    2. Click the login button to the top right
    3. Enter your Username and Password
    4. After you enter your username and password, you will then be prompted to enter your One Time Password or OTP. To get your One-Time Password:
      • Turn on your Digipass by pressing the red button
      • Enter your 5 digit PIN and press the green button
      • A Message SELECT I or S is displayed on the Digipass screen
      • Press the ‘I’ button once
      • ‘LOGON’ is displayed on your Digipass screen
      • Press the green button to continue
      • A 6-digit One Time Password (OTP) is displayed on the screen
    5. Enter this code into the OTP field
    6. Click Login

    Step 4: Change Your Password

    When you first login you will be prompted to change your password for Bank of Ireland FXPay. The password must be a combination of both letters and numbers (minimum 2). The minimum length of a password is 6 characters. You will be required to change your password every 90 days.

    Once you have changed your password, you should now be logged into FXPay.

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