Is irish banking system the worst in the world

Specialun

Kind of getting sick of the sh it irish banking system

To pay my own credit card and for it to show on the online banking it takes at least 4 working days

I went to shop other day and the shop took the payment from my card twice..it will take at lease 5 working days for it to be rejected and come back around

Why is everything so slow...if I was stuck for the money i would be well annoyed

o1s1n

This also drives me mental.

I always think it's made extra hilarious by the speed in which money leaves your account when you're paying off a credit card bill.

Cody Pomeray

Banking is pretty sh1t everywhere; most countries' banks seem to have inflexible opening hours not accommodative to enterprise or workers, and transactions can take a number of days anywhere I've used them abroad (in Europe, at least).

bacon n eggs

YE THINK ?? DOH

Montroseee

It's next to impossible for postgraduates looking to get loans for another degree even with a guarantor. If you do manage to get one, you'll be horrified at the amount of interest you'll pay. A stark contrast to the student loan system in the UK.

Specialun

o1s1n wrote: »

This also drives me mental.

I always think it's made extra hilarious by the speed in which money leaves your account when you're paying off a credit card bill.

Exactly.it leaves straight away but doesnt show up on the othervaccount for a week

Its like its gone missing on a coke and hooker session

SEPT 23 1989

They are like a cancer on society

malkmoose

I have an Irish credit card, bank account and mortgage. I also have a Finnish credit card, bank account and mortgage. The differences are night and day, I can see money leave from my banks account to credit card on screen instantly.

I don't understand with so many tech savy people around in the Irish banks that they cannot copy other systems from Europe. The level of skill and expertise when it comes to employees is the same in both countries.

jimgoose

Worst in the world? Ah no, I'd place the Irish system up there with say, Uganda.

Kichote

malkmoose wrote: »

I have an Irish credit card, bank account and mortgage. I also have a Finnish credit card, bank account and mortgage. The differences are night and day, I can see money leave from my banks account to credit card on screen instantly.

I don't understand with so many tech savy people around in the Irish banks that they cannot copy other systems from Europe. The level of skill and expertise when it comes to employees is the same in both countries.

The other systems in Europe are pretty crap too. Copying Europe is not the solution to every problem

malkmoose

Kichote wrote: »

The other systems in Europe are pretty crap too. Copying Europe is not the solution to every problem

Copy more efficient systems such as in Finland. It would not make sense to copy a less efficient system.

dan1895

malkmoose wrote: »

It would not make sense to copy a less efficient system.

That's what they'll do so, then say "but that's what they do over there and we have to keep up with them"

Kichote

malkmoose wrote: »

Copy more efficient systems such as in Finland. It would not make sense to copy a less efficient system.

More efficient in this case just means the banks are able to make more money out of you while hiring less staff.

If you are going to overhaul the banking system you might as well start from scratch. Get rid of fractional reserve lending for one

Aseth

We have a saying; if you don't know what it's all about - it's about money.

Banks get massive amounts for being able to handle your money for few days in between. Bunch of b*rds if you ask me.

charlemont

malkmoose wrote: »

I have an Irish credit card, bank account and mortgage. I also have a Finnish credit card, bank account and mortgage. The differences are night and day, I can see money leave from my banks account to credit card on screen instantly.

I don't understand with so many tech savy people around in the Irish banks that they cannot copy other systems from Europe. The level of skill and expertise when it comes to employees is the same in both countries.

I'd say there may be difference there, A big one.

malkmoose

I understood the question to be "is the irish banking system the worst in the world" from the perspective of the customer.

If that is the question then I would say there are better systems in Europe from the perspective of the customer. One that I am very familiar with is the Finnish banking system and I have a better customer experience.

I don't have a clue about efficiency in terns of the banking system as a money making operation

Dravokivich

malkmoose wrote: »

I have an Irish credit card, bank account and mortgage. I also have a Finnish credit card, bank account and mortgage. The differences are night and day, I can see money leave from my banks account to credit card on screen instantly.

I don't understand with so many tech savy people around in the Irish banks that they cannot copy other systems from Europe. The level of skill and expertise when it comes to employees is the same in both countries.

Financial regulations may differ, meaning the software/infastructure will have to act/process in a certain way.

syklops

malkmoose wrote: »

I have an Irish credit card, bank account and mortgage. I also have a Finnish credit card, bank account and mortgage. The differences are night and day, I can see money leave from my banks account to credit card on screen instantly.

I don't understand with so many tech savy people around in the Irish banks that they cannot copy other systems from Europe. The level of skill and expertise when it comes to employees is the same in both countries.

Its not the IT system, Irish banks, along with other banks in Europe and parts of the world gamble with your money for the brief period of time its not in your account. Thats why there are no or few instant transactions.

malkmoose

Dravokivich wrote: »

Financial regulations may differ, meaning the software/infastructure will have to act/process in a certain way.

Yep, that could be the reason right there.

The Backwards Man

Banks try to make money?

I've never heard anything as absurd as this in my life!

Cody Pomeray

Montroseee wrote: »

It's next to impossible for postgraduates looking to get loans for another degree even with a guarantor. If you do manage to get one, you'll be horrified at the amount of interest you'll pay. A stark contrast to the student loan system in the UK.

Student Finance UK don't pay for Masters or PhDs either though, they only pay for the smaller post graduate in education type programs. Most UK candidates I know are borrowing heavily from banks or their parents just like us.

--Kaiser--

SEPT 23 1989 wrote: »

They are like a cancer on society

What, banks? Do you think we should go back to bartering?

Micky Dolenz

Who here knows jack about any other banking systems in the world?

Please come forward, we need your professional opinion.

syklops

The Backwards Man wrote: »

Banks try to make money?

I've never heard anything as absurd as this in my life!

They dont get enough from interest, late fees, bank charges etc already?

In the past, if I got paid on the 10th of the month, and the 10th fell on a Saturday then I saw no sign of it until Monday. Tuesday if it was a bank holiday. What was happening to my money for those 3 days?

inc21

I would like to say what I think of Irish banks, but swearing is not allowed here unfortunately.