3 bank holidays in a row

But that doesn't really explain why the computers have to observe public/bank holidays...
 
It doesn't seem to impact instant payments between my non-Irish bank accounts, Revolut etc.
 
Itchy said:
It doesn't seem to impact instant payments between my non-Irish bank accounts, Revolut etc.
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I got a €60 referral bonus from Revolut over the holidays within seconds of the final purchase transaction being made by the new account holder over the holidays.
 
ClubMan said:
But that doesn't really explain why the computers have to observe public/bank holidays...
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They don't. Banks will run payment files in the background over public/bank holidays but they won't necessarily transfer funds until they can make an interbank settlement.

People should also be aware that just because funds appear on your statement doesn't mean they are cleared funds. IT companies like Revolut will either have accepted a financial risk if they give you cleared funds without receiving payment from another entity or will have them flagged as uncleared funds and buried deep in their T&C's will be something to allow them take the funds back if they don't get it paid over from the other entity.
 
Since we moved to online banking and all electronic transactions. Transfers seem to take ages.

If feels as if there's someone who comes in two days a week, and fires up a transfer machine, then turns it off when they go home.
 
AlbacoreA said:
Since we moved to online banking and all electronic transactions. Transfers seem to take ages.

If feels as if there's someone who comes in two days a week, and fires up a transfer machine, then turns it off when they go home.
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Which Bank?

Where are you sending the transfers to?
 
I've not seen any delays, recently opened a BoI account as I am a UB customer and once it was set up I made a transfer from UB to BoI and it was visible the next day. The banks do have a cut off time each day to allow them run their files so if you try and make a transfer in the evening for example, it may not be the next day when it touches down. Some entities such as building societies and credit unions may have an additional day delay as they may not be full members of the relevant clearing.
 
AlbacoreA said:
The main street banks.
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Which bank are you making the payments from?

Assuming it's one of: AIB, BoI, UB, KBC or PTSB, it should be next working day, at the latest. If its not, you need to go talk to your bank.

If you bank with N26, Revolut etc. In theory, payments should be same day, but due to delays within some receiving Banks, could run into next day.

Is it's a Bank outside of Ireland, it may take a couple of days, depending on their correspondent relationships, if they are members of SEPA etc.
 
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