There is a 75% chance that you have a major problem with your bank, building society or vulture fund that you know nothing about. Are you one of the lucky 25%?

O’Driscoll Cost Management is your totally independent financial partner, with a checking service that will quickly tell you if there are any problems with your bank account and set about fixing them.

We will recover any monies owed to you (with interest of course).

Major areas of concern are:
  • Interest overcharges;
  • Inaccurate fees;
  • Penalty rates;
  • Hidden charges;
  • Incorrect account setup;
  • Incorrect interest margins;
  • Credit accounts ignored;
  • Accounts not set off;
  • Unfair contracts;
  • Inappropriate security;
  • Unjust guarantees.

What we do

Because of our combined expertise, we can cover every aspect of a case. We can, if you wish, act on your behalf totally, accompany you at meetings with your bank or simply supply you with the information to enable you to negotiate on your own.

The choice is entirely yours.

We can:
  • Check the accuracy of interest and banking fees;
  • Obtain refunds of monies overcharged;
  • Access your present banking set-up and make suggested changes;
  • Obtain legal opinion and representation.

Our initial meeting is free of charge and complete confidentiality is guaranteed.

Our business can help your business to trade more profitably and thrive in an increasingly complicated financial marketplace.

Frequently asked questions

What am I paying for and what will I get?

Your first interview with us is completely free of charge. What we offer is a complete review of all your banking costs including interest, transaction fees, commissions, excess fees, penalty interest and arrangement/renewal fees.

When the recalculation and reconstruction is complete, you will receive a bound report showing the day-to-day movement of your bank accounts, the charges (including interest) levied by the bank, the charges as recalculated and the compounding effect on the interest, all of which is taken into account to produce the final overcharge figure.

Will this harm my relationship with the bank?

When our reports are complete, it is again the client’s decision on how best to handle the situation.

There are four choices:
  1. Do nothing;
  2. Approach your bank with our findings and negotiate with them yourself;
  3. Request us to accompany you to your bank to explain our findings and help settle matters;
  4. Request us to act on your behalf and negotiate for you in your absence.

We are happy to follow whatever path our client decides on. We always deal with the banks in a professional manner and in line with your wishes.

Always remember, we will not get involved with any bank unless we have the authority of the client to do so.

What documentation do I have to provide?

When you agree for work to be carried out for you, we need as much information about the operation of your bank accounts as possible.

This information will include:
  • All the bank statements for the years you want audited or a report prepared for;
  • Bank facility letters.

How long does all this take?

We usually have a waiting list and try to avoid it getting any longer than three months. The actual process time – once we have all the information – is usually between two and four weeks.

Negotiations to claim refunds or renegotiate facilities vary in time, depending on the amount of the claim, reason for it, and the attitude of the bank. This can range from a month to a couple of months.

Can I jump the queue?

In exceptional circumstances, usually where pending legal action is involved, we will take action on the case.

We consider each request and will advise you accordingly, depending on the problems involved.

I’m going to have to pay your processing fees – will it be worthwhile?

Our processing fees are very modest on a per year basis, when you consider that we have to set up a computer program for each client.

In addition to this, we have to input each days balance and every banking transaction in that year, as well as compare costs levied as against agreements with the bank and produce a report, with its findings advised to yourself.

All figures have to be checked by a second analyst before releasing any reports, so that no manual errors have occurred in keying your data to our computers.

Due to the massive effects that the compounding of interest can have (interest upon interest), a modest error say 10 years ago will now be worth a substantial amount of money. For example, an error of €250 in 2005 could now be worth over €23,000 today.

Agricultural Credit Corporation

If you have an Agricultural Credit Corporation (ACC) account, please contact us to have the account checked for overcharges. You can contact John O’Driscoll on: 086-8200258; or email at: [email protected].