Why do money transfers only process on work days?

FileNotFound

I had to move money over the xmas from my AIB account to my BoI account, this is a simple pop online and transfer scenario or so I assumed. On the 26th of December I initiated a transfer only to have to wait until the 02nd January for it to complete. If this was a first time transfer then I would say fair enough but it wasn't. 

I am wondering if someone can explain why BoI shut down an automated system on non working days? It kind of makes the whole 365 banking concept a bit redundant does it not?

I would add the BoI had no issue with charging my account with fees in the interim period? Odd how when it comes to taking your money there is no delay, yet simple transfer services are stalled?

It was exceedingly inconvenient as I had transferred the money for convenience only to be left without said money for the xmas period..

I suppose i am just wondering why a computer system is not left to do what it does? Why it has to be stopped. Having many issues with BoI that do not seem to exist with my AIB account and considering the fees I'm beginning to wonder why i stay a customer at all?

TheQuietBeatle

Another reason to use Bitcoin. 

Bank of Ireland: Kareana

Hi Filenotfound,

Thanks for your post here on Boards.

SEPA payments would only processed on banking days as with all other banks.

Please see here for more information.

Thanks,

Kareana

FileNotFound

Hi Kareana,

Having read through the link there is nothing to explain or answer my question. 

I was wanting to know why an automated system needs to stop just because people take a few days off? 365 banking really isn't 365 if there are periods where nothing can be done.

I really just want to know why and what classifies as actually useable banking days so that I can know when your services are unavailable to your customers.

Thanks in advance,

FNF

lfc200

FileNotFound wrote: »

Hi Kareana,

Having read through the link there is nothing to explain or answer my question. 

I was wanting to know why an automated system needs to stop just because people take a few days off? 365 banking really isn't 365 if there are periods where nothing can be done.

I really just want to know why and what classifies as actually useable banking days so that I can know when your services are unavailable to your customers.

Thanks in advance,

FNF

You do know this is the same across all banks and not just bank of Ireland?
Until Sepa instant credit transfer is fully implemented across all banks it will remain the same....

FileNotFound

Hi Ifc200

That's fair enough, I was just wondering why an automated system needs downtime when people are off? That's all?

Also some forewarning would be nice, like I transferred money to my credit card today only for the second I had completed the transfer BoI online informed me it would not transfer until the day after tomorrow (did it after 3pm). Bit late to warn me lol. 

I find it hard to understand why the computerized systems used in banking are so outdated, I mean still no sign of samsung pay etc. 

Does a person have to actually sit down and go through every transaction in the country every day before they can be processed? If not then why the down time? That's all I am asking. No doubt a simple clear and sensible answer is available..

Regards,

FNF

Bank of Ireland: Kareana

Hi FileNotFound,

Thanks for your reply.

Payments would not process outside of hours when you are confirming the payment you will receive the following message before entering your pin to confirm the transfer.

We would also recommend reading all of these important messages displayed when making any sort of payments.  

"Payments that are requested after the daily cut-off time Monday to Friday, or at any time on a Saturday, Sunday or Bank holiday will be processed on the next working day."

There would also be a link for further information below this message regarding cut-off times before you make the transfer.   

As advised all banks would be the same regarding SEPA payments.

Phone and online 365 is available to you to log into 365 days a year.  

Please let us know if there is anything else we can help you with.

Thanks,

Kareana