Electronic Transfer to AIB

[caoimhe]

Hi all,

I recently withdrew my money from Northern Rock by electronic transfer to AIB.
In the past, such transactions would always come up as leaving my Northern Rock account on a certain day and would appear as lodged to my AIB account 2 days later (i.e if it left NR on a Monday it would appear in AIB on Wednesday morning).

In this particular case, the money left my NR account on Wednesday, 19th Oct. I didn't check my AIB account on the Friday but when i checked it on the Saturday morning the money had been lodged into the account. However, the date that appeared beside the lodgement was Monday (24th Oct) - still 2 days away! Am i right to assume that the money was transferred to AIB on the Friday as they don't do business on a Saturday. Also, as this was quite a considerable amount of savings, is it possible that they deliberately delayed processing it to avoid having to pay interest for the few days over the weekend.

I have no problem if i takes that long for the transaction to be processed but it seems strange that the money can appear in my online account on a Saturday but not be credited to the account (so as to gain interest) until the following Monday.

Any clarification on this would be much appreciated.

Thanks,

Caoimhe

 

[rob67]

I've just encountered a similar situation. According to NR spokesman it takes 3-4 working days from when money is recorded as having left the NR account to when it will be recorded as being in my AIB account. He wasn't able to say where the money would be during this period. Apparently no interest is earned on the money. This seems quite extraordinary and I too would breatly appreciate clarification.

Rob