Delay in Wages Since SEPA

..Brian..

Hi Guys,

For years my wages appeared in my account shortly after midnight in the early hours of Friday morning.

Since SEPA was introduced, wages are not hitting my account until late afternoon Friday.

I have check with Payroll, as did many other employees here as it was happening with all banks and they assure me that files are being sent as per usual and the delay is on the banks end.

All employees in my job with BOI are experiencing similar delays. Other employees who bank with your competitors, who were reporting the same, are now reporting that wages are again going through in the mornings in a timely fashion. Later than before, but certainly a lot earlier that later afternoon Friday.

What is the delay here and are you working to resolve the issue?

Regards

Brian.

Bank of Ireland: Sarah

Hi Brian,

Thank you for contacting us on Boards. 

With the introduction of SEPA going forward the timings of credits will now appear throughout the banking day. We would like to reassure you that as soon as payments are received from other banks, we will process them without delay to your account. You may see the payments delayed by a number of hours but certainly not days. 

We understand this may be frustrating for you. Unfortunately we have no control over the timing of these credits. Please allow us to reassure you again that we will certainly credit payments as soon as they arrive.

Thanks,

Sarah  

dub45

So why are there delays as a result of SEPA?  What is causing them?

AmilcarAlho

Delays caused by a well designed SEPA process, I'm sure. As an example, a non Irish back account is showing the funds early in the morning, with funds originating in an Irish Bank. 

..Brian..

Bank of Ireland: Sarah wrote: »

Hi Brian,

Thank you for contacting us on Boards. 

With the introduction of SEPA going forward the timings of credits will now appear throughout the banking day. We would like to reassure you that as soon as payments are received from other banks, we will process them without delay to your account. You may see the payments delayed by a number of hours but certainly not days. 

We understand this may be frustrating for you. Unfortunately we have no control over the timing of these credits. Please allow us to reassure you again that we will certainly credit payments as soon as they arrive.

Thanks,

Sarah  

It's funny as that's what payroll is saying and what the jobs bank is saying. Unusual that employees who bank with PTSB and AIB are getting their wages a lot earlier than us in BOI. 

NinjaTruncs

It's funny how payments into our accounts are taking longer however you have no problem taking payments out early. MY mortgage has always come out of my account on the 4th or each month, however with SEPA payments now come out a day earlier.