Changes to DD Payment Display

Changes to DD Payment Display

From the 1st of January 2018, the name BCU or Ballincollig Credit Union will no longer show on members bank statement as the originator of any payments.

Instead, the member's bank statement will display the name of the member's account in Ballincollig Credit Union.

This new change is stipulated by SR VII and the Regulation (EC) No 1781/2006 of the European Parliament and of the Council of 15 November 2006 on information on the payer accompanying transfers of funds.

It is also considered best practice to include true remitter name in payments, as it affects the effectiveness of Anti Money Laundering (AML) and Countering the Financing of Terrorism (CFT) screening and sanctions filtering.

Should any members have any queries regarding these changes please contact BCU on 021 -4872305 or email