How long to transfer between Irish banks online?

ZappaMan

Hello,

An acquaintance of mine who owes me some money claims he transferred it to me online last Friday. He is AIB and i am bank of Ireland.

However it is now Wednesday evening and there is no sign of the funds in my account. I was under the impression that transfers between two personal accounts should only take a day or so? I've had issues with him before, hence my scepticism.

Thank you.

GerardKeating

ZappaMan wrote: »

Hello,

An acquaintance of mine who owes me some money claims he transferred it to me online last Friday. He is AIB and i am bank of Ireland.

However it is now Wednesday evening and there is no sign of the funds in my account. I was under the impression that transfers between two personal accounts should only take a day or so? I've had issues with him before, hence my scepticism.

Thank you.

Next working day, or sometimes same day.

barrier86

I transfer from UB to BoI and PTSB all the time. I usually do it in the morning it's there before noon the same day.

r93kaey5p2izun

I transfer money from my AIB account to a BOI account every month and it always takes at least 4 working days. It's a pain. Hope you got your money by now at least though.

dobsdave

Stevie Easy Chin wrote: »

I transfer money from my AIB account to a BOI account every month and it always takes at least 4 working days. It's a pain. Hope you got your money by now at least though.

It should only take one working day if done before the cutoff on a weekday.

r93kaey5p2izun

dobsdave wrote: »

It should only take one working day if done before the cutoff on a weekday.

So I'm told but unfortunately that's not what happens every month.

Yggr of Asgard

You should complain to the Financial Services Ombudsman and the Central bank, your bank is not complying with SEPA regulations there.

Delta2113

I think your scepticism is correct.

DMcL1971

In my experience for money transferred to any SEPA account using online banking.

From Rabodirect sent before 13:15 will arrive the same day, sent after 13:15 will arrive next day.
From KBC sent before 11:00 will arrive the same day, sent after 11:00 will arrive next day.
From EBS regardless of when sent will arrive the next day.
From PTSB regardless of when sent will arrive the next day.

Obviously this refers to business days.

I would be interested to know what the rules are for other banks?

Arbie

DMcL1971 wrote: »

In my experience for money transferred to any SEPA account using online banking.

From Rabodirect sent before 13:15 will arrive the same day, sent after 13:15 will arrive next day.
From KBC sent before 11:00 will arrive the same day, sent after 11:00 will arrive next day.
From EBS regardless of when sent will arrive the next day.
From PTSB regardless of when sent will arrive the next day.

Obviously this refers to business days.

I would be interested to know what the rules are for other banks?

I recently sent from KBC at 13.00 and it arrived same day.

DMcL1971

Arbie wrote: »

I recently sent from KBC at 13.00 and it arrived same day.

KBC have told me previously that they can only guarantee same day payment if it is submitted before 11:00 but will often go through when sent later.

Many banks will often offer same day payments between their own customers regardless of branch.

JTMan

SEPA payments require a 'batch out' by the sender and a 'bath in' by the receiver. Some banks do multiple batches per day. Some banks do one batch per day.

Banks can really only guarantee same day sending. The sender can't guarantee what the recipient bank will do, albeit subsequent business day should be the latest that the recipient bank applies their SEPA batch in and the payment when applied might be back valued by the recipient if the sender requests this.

PTSB do 3 SEPA batches in and 3 SEPA batches out per day. (PTSB also do 3 SWIFT batches).

The sooner SEPA Instant Payments directive comes into force (November 2017 is the target for payments up to 15k EUR) the better. Better still, let's hope Blockchain global instant payments happens.

keysersoze0330

Sorry to drag up an old thread. I was supposedly sent money from an AIB account Wednesday evening 4:30pm. Due to snow closures Thurs/ Friday will this delay the transfer or will they continue to transfer regardless. My bank is PTSB.

368100

keysersoze0330 wrote: »

Sorry to drag up an old thread. I was supposedly sent money from an AIB account Wednesday evening 4:30pm. Due to snow closures Thurs/ Friday will this delay the transfer or will they continue to transfer regardless. My bank is PTSB.

Banks still need process sepa transfers regardless of snow. Those funds should have been in your account on thursday. id contact the sender to get proof of transaction

keysersoze0330

368100 wrote: »

Banks still need process sepa transfers regardless of snow. Those funds should have been in your account on thursday. id contact the sender to get proof of transaction

Yes. Arrived about 4:30pm Thursday. Thanks