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AIB Credit Card balance query

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  • 08-02-2023 10:17am
    #1
    masterboy123
    Registered Users Posts: 5,730 ✭✭✭


    Has it ever happened to you that AIB Credit card balance is incorrect?

    I noticed all of a sudden it was few euros extra but I didn't tally the amount yet. (perhaps it was a pending transaction).

    Thanks



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    #2
    OrangeLavender
    Registered Users Posts: 83 ✭✭OrangeLavender


    Don't know how that happened. My post appeared twice so I changed one to the text "duplicate" but it seems to have removed the other post and left that one.


    I just commented that I find my AIB credit card takes a while to update and reflect new transactions. Sometimes a couple of days.

    Post edited by OrangeLavender on


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    #3
    masterboy123
    Registered Users Posts: 5,730 ✭✭✭masterboy123


    https://www.boards.ie/discussion/comment/120214836#Comment_120214836

    In what ways please?



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    #4
    coylemj
    Registered Users Posts: 25,366 ✭✭✭✭coylemj


    Based on my experience with a BoI credit card, you cannot trust that the online balance is accurate until all of your pending transactions show up in the online statement. For example, if a purchase in a non-Euro currency is pending, the online balance they show you will typically not be accurate until they decide the FX rate and the transaction shows in your statement.



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    #5
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,080 Mod ✭✭✭✭Jim2007


    https://www.boards.ie/discussion/2058283399/aib-credit-card-balance-query

    All account balances are a snap shot it time and in most cases the balance will be off - if you want an accurate balance you need to keep an account yourself of all you transactions and reconcile it with the bank balance on a regular basis.



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    #6
    masterboy123
    Registered Users Posts: 5,730 ✭✭✭masterboy123


    https://www.boards.ie/discussion/comment/120216457#Comment_120216457

    But are we as customers ever charged more by a financial institution? For example, charged double.

    Do their computer system ever fail and do miscalculation?



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    #7
    coylemj
    Registered Users Posts: 25,366 ✭✭✭✭coylemj


    https://www.boards.ie/discussion/comment/120216495#Comment_120216495

    If you're ever charged double, it's almost always the fault of the retailer or their equipment. The bank will never charge you twice because every purchase is assigned a unique transaction id and if the bank's systems attempt to apply that transaction twice to your account, the duplication will be spotted.



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    #8
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,080 Mod ✭✭✭✭Jim2007


    https://www.boards.ie/discussion/comment/120216495#Comment_120216495

    Of course, that is one of the reason you should track your balance and reconcile it on a regular basis. There will almost always be little differences but you should have a fairly accurate estimate of what it should be.



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    #9
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,080 Mod ✭✭✭✭Jim2007


    https://www.boards.ie/discussion/comment/120216621#Comment_120216621

    I know of at least of two situations were wrong backup tapes were restored to production at two banks and in one case it was about 36 hours before it was accepted.



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    #10
    Citrus_8
    Registered Users Posts: 1,162 ✭✭✭Citrus_8


    https://www.boards.ie/discussion/comment/120216621#Comment_120216621

    Actually, a double (or a ghost) transaction happens due to a network connection issues more often rather than the retailer's equipment. Very often there is a middle man between the bank and the retailer. These payments systems sometime fail. This is not a trouble as usually double transaction gets automatically rejected, in most cases. It could be, however, the matter of a few days inconvenience when twice the amount is pending. It could be an problem to those who have a low amount of money in their bank, or a ghost transaction happened to be the one for a very large amount.



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