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EBS Money Manager and instant payment

  • 11-06-2025 04:02PM
    #1
    coylemj
    Registered Users, Registered Users 2 Posts: 25,891 ✭✭✭✭


    I have an EBS Money Manager (MM) account and I got a letter from them today along the lines of what's already been discussed in other fora - the introduction of support for instant payments and the consequent changes in terms and conditions.

    The second paragraph in the letter caught my eye: - 'Since January 2025 you have been able to receive instant payments to your payment account. This means your balance is updated straight away when someone send your an instant payment'.

    My only experience so far of instant payments is when I send money from Revolut to my AIB current account, that goes through straight away because I get a notification from AIB within a minute telling me that 'a payment has been received'.

    So I decided to test the claim from EBS that this facility has been available to their account holders since January. At 15:25 I send €25 from Revolut to my EBS MM account and waited and waited. At 15:30 I sent €20 (by design, a different amount) also from Revolut, this time to my AIB current account and got the confirmation straight away. Logged into the AIB app and the €20 transfer had arrived but, over in my EBS MM account, there was no sign of the €25 sent 5 minutes earlier.

    At 15:45 I got a notification from Revolut that the transfer to EBS had failed and the €25 was back in my Revolut account. Bad enough that it was not instantaneous but it failed outright. I was about to try it again but under the amount, Revolut said a transfer to EBS was 'arriving tomorrow' whereas if I said I was going to transfer to AIB, it said 'arriving in seconds'.

    Post edited by coylemj on


Comments

  • #2
    Jim2007
    Moderators, Business & Finance Moderators Posts: 11,048 Mod ✭✭✭✭Jim2007


    Well without having a detailed analysis of why the transaction failed, there is no way of concluding who was at fault and if it was a one of or recurring issue…. Get Revolut to do a trace, did the order even leave the building?



  • #3
    coylemj
    Registered Users, Registered Users 2 Posts: 25,891 ✭✭✭✭coylemj


    https://www.boards.ie/discussion/comment/123541836#Comment_123541836

    The transaction record in Revolut said it was rejected by the receiving bank. Tried it again the next day and got the same result. Rang EBS, they said that because I was able to transfer in from my AIB account, it must be Revolut's fault.



  • #4
    Jim2007
    Moderators, Business & Finance Moderators Posts: 11,048 Mod ✭✭✭✭Jim2007


    https://www.boards.ie/discussion/comment/123542977#Comment_123542977

    Well there is not much EBS can do, because only the sending bank can request a trace. It's possible any part of the system is not in full go live status yet, who knows..



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