AIB Credit Card. Payment took 10 days to be credited from my AIB current account.

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Odea

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I called in to local AIB branch in Stillorgan to transfer €200 from my current account there, to my AIB credit card.

My receipt shows the transaction happening on the 1st May. I got my AIB Credit card statement today and it is showing that the transaction happened on the 10th May and credited on the 11th May.

Has anyone any idea as to why it takes 10 days to transfer funds from one AIB account to another?

When my account was with the Ulster Bank, they would debit my current account there and then and credit my Ulster Bank credit card there and then.
 
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Would have to say its most unusual for that long delay.

If done online the longest it would take could be from Friday (depending on time of day that transfer is done) to Tuesday morning.

Contact them and ask what the delay was because you will need to be aware of timelines for future payments.
 
I recently had similar experience with them.money sent on April 28 and arrived on the 18th of may.
Mind you it was for an international transfer.
Normally only a couple of days at most
 
Sue Ellen said:
Would have to say its most unusual for that long delay.
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With the Ulster Bank my current account was debited as a cash withdrawal and immediately lodged to my Ulster Ban credit card as a cash lodgment. Immediate transfer.

Where was my €200 sitting for 10 days in the AIB?
 
Odea said:
Where was my €200 sitting for 10 days in the AIB?
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Only AIB can answer that for you.

The only time I've ever had an issue like this, although not AIB, was when I quoted the incorrect reference on the payment (I switched 2 digits of my credit card number). What should have been an automated transfer went into suspense and someone in the bank had to manually investigate, find my account based on name, and manually apply the lodgement.
 
RedOnion said:
The only time I've ever had an issue like this, although not AIB, was when I quoted the incorrect reference on the payment (I switched 2 digits of my credit card number). What should have been an automated transfer went into suspense and someone in the bank had to manually investigate, find my account based on name, and manually apply the lodgement.
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The cashier dealt with the withdrawal from my current account. I completed the withdrawal form at the counter, he did the computer bit. I handed in the giro part from my credit card statement. Account numbers already on it.

I asked him for a receipt for the current account withdrawal, he said they didn't do receipts. The receipt for the credit card lodgment was a date stamp on the top portion of my credit card statement.

The Ulster bank used to give me a receipt for both the withdrawal and the lodgment.....I could check the transaction.

As a former banker, working in branches, I have never seen anything like the mess the AIB has made of my accounts since I switched over from the Ulster bank.
 
RedOnion said:
As a former banker, working in branches, you will know the only people than can answer your original question is AIB.
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I have contacted them via their online complaints form. It will be interesting to see what their response is. I will report back.
 
AIB banking and AIB cards sit on seperate core banking systems. Hence files will have had to go back and forth. Depending on timing, this transaction may also have fallen foul of the May 1st banking rule where May 1st is an European wide bank holiday and the bank settlement process (including Ireland) is closed that day. The link below is from 2020 but it will outline the principles

bpfi.ie

Businesses urged to avoid payment delays to wages and salaries due to upcoming European May Day holiday on Friday May 1st - Banking & Payments Federation Ireland

Banking & Payments Federation Ireland (BPFI) is today advising businesses that due to the upcoming European May Day holiday, payment requests for wages and salaries due on the 1st May should be submitted earlier to ensure employees receive their pay on time. Explaining the impact of this Gill...
bpfi.ie bpfi.ie

Most branches have a 3.30/4pm cut off for transactions on the same day, so if you did the transaction at 4.15 on Friday April 28th, it's likely to have been Tuesday May 2nd before it really started flowing. It still shouldn't have taken until the 10th. However I am just wondering if AIB are using Mastercard/Visa in Southend on sea for it's core card processing system in which case, the May 8th Bank holiday over there also comes into play. Certainly, as a merchant, that is where things like chargeback letters come from so they use the UK for some things
 
thedaddyman said:
AIB banking and AIB cards sit on seperate core banking systems. Hence files will have had to go back and forth. Depending on timing, this transaction may also have fallen foul of the May 1st banking rule where May 1st is an European wide bank holiday and the bank settlement process (including Ireland) is closed that day. The link below is from 2020 but it will outline the principles

bpfi.ie

Businesses urged to avoid payment delays to wages and salaries due to upcoming European May Day holiday on Friday May 1st - Banking & Payments Federation Ireland

Banking & Payments Federation Ireland (BPFI) is today advising businesses that due to the upcoming European May Day holiday, payment requests for wages and salaries due on the 1st May should be submitted earlier to ensure employees receive their pay on time. Explaining the impact of this Gill...
bpfi.ie bpfi.ie

Most branches have a 3.30/4pm cut off for transactions on the same day, so if you did the transaction at 4.15 on Friday April 28th, it's likely to have been Tuesday May 2nd before it really started flowing. It still shouldn't have taken until the 10th. However I am just wondering if AIB are using Mastercard/Visa in Southend on sea for it's core card processing system in which case, the May 8th Bank holiday over there also comes into play. Certainly, as a merchant, that is where things like chargeback letters come from so they use the UK for some things
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It always amazed me the electronic bank transaction take a bank holidays same as bank employees (they must need a rest), even using online banking my wages were always late going in on a bank holiday week end
 
roker said:
It always amazed me the electronic bank transaction take a bank holidays same as bank employees (they must need a rest), even using online banking my wages were always late going in on a bank holiday week end
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the files run in the background and you may see transactions "in progress" on your banking app, so the banks are working over the BH. What doesn't happen is the financial exchange between the banks. So if your employer is AIB and you bank with Bank of IReland, the money only moves between banks Monday to Friday. Hence the transactions are not "cleared" and don't post. That's not just the Irish banking system, all banks are like that
 
thedaddyman said:
the files run in the background and you may see transactions "in progress" on your banking app, so the banks are working over the BH. What doesn't happen is the financial exchange between the banks. So if your employer is AIB and you bank with Bank of IReland, the money only moves between banks Monday to Friday. Hence the transactions are not "cleared" and don't post. That's not just the Irish banking system, all banks are like that
Click to expand...
Nevertheless the money hasn't gone through and payment is late, I wonder if they charge for overdraft if you are negative before it transfers?
 
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