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AIB charging 'astronomical' fee for records of payments

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    #32
    MrPudding
    Registered Users Posts: 9,788 ✭✭✭MrPudding


    I am currently working for a bank in the uk. I work in the Data Storage Management team.

    Once you are looking for data going back any period of time it becomes quite troublesome to retreive the data. We can bring the data back, it is all there, but it is not a simple matter to retreive it.

    The amount of "live" data that the systems can hold is limited. The mainframes will be attached to very expensive disk. As the data ages it will be moved to cheaper methods of storage. The further it moves from the tier one expensive disk, the longer it takes, and the more involved it is, to get it back.

    In some cases the tapes the data is on will be on an offsite storage facility. No problem, just ove them a call and they will send it on a bike or van. Of course they will charge for this.

    Perhaps you don't care about this but the fact remains, it can cost money to retrieve the data. The banks are not a charity, they have to charge.

    MrP


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    #33
    ScouseMouse
    Closed Accounts Posts: 5,070 ✭✭✭ScouseMouse


    Nobody said the banks are a charity but my heart does not bleed for any bank that makes 1.7BILLION yes BILLION profit in one year ( source : google - breaking news - aib -2005.)

    I can understand the real pain in the ass you would have paying for a van or motorcycle to bring the relevent tapes to yoU, or even buying an extra disk to hold this data inhouse, which could threaten an obviously tight profit margin....






    NOT


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    #34
    MOH
    Registered Users Posts: 6,464 ✭✭✭MOH


    It's a bit of a joke if they can't provide statements going back 6 months without resorting to offsite backups.


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    #35
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    stepbar wrote:
    Its not too hard to put away your bank statements / bank info in a folder in fairness.

    ..............


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    #36
    Sangre
    Registered Users Posts: 12,153 ✭✭✭✭Sangre


    Since statement printing is automated I'd imagine the cost is having to manually check if the statements are stored are not and then enter the detailed to be printed etc.,


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    #37
    Solair
    Closed Accounts Posts: 7,230 ✭✭✭Solair


    There's also an element that bank charges don't necessarily reflect newer technologies. Even if more and more data is "on-line" within the bank, it doesn't mean that they'll adopt a new charging system for retrevial of that data.

    That being said, there are definitely considerable amounts of administration required to do retreive old statements. It's not like scrolling back through your inbox in gmail.

    In many cases it involves inputting horribly convoluted commands into a big old main frame system with a user interface from hell, created in back in the 80s.

    It's also not unreasonable for a bank to expect that you might file your statements of accounts at home in a lever arch. To be fair, if you don't, you can't really expect them to do your admin for free.

    The banks do make huge profits, but that's primarily from mortgage lending and business banking, not from current account activities and they will, like any business, attempt to recover costs incurred.


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