Random Banking Questions

Sully

Forgive my ignorance but I've a few basic banking questions I'm hoping someone csn clarify.

The tap and go facility. I've always been with AIB and it's almost immediate. Since moving to KBC it's a fair bit slower before the approval is given, so much so it's not much of an advantage to not using a pin. Why would this be?

Last question is about credit scores. How are they calculated? When does it negatively effect you (in terms of over draft, loans with bank and credit unions etc)? Never had an issue thank God, but was always curious as to how this all worked out. I've a credit card no loans and always paid on time but you'd be wondering can it still impact on you.

Anyway random as they are, thanks!:)

Geuze

Sully wrote: »

Last question is about credit scores. How are they calculated? When does it negatively effect you (in terms of over draft, loans with bank and credit unions etc)? Never had an issue thank God, but was always curious as to how this all worked out. I've a credit card no loans and always paid on time but you'd be wondering can it still impact on you.

No such thing in Ireland as "credit scores".

Creamy Goodness

Sully wrote: »

The tap and go facility. I've always been with AIB and it's almost immediate. Since moving to KBC it's a fair bit slower before the approval is given, so much so it's not much of an advantage to not using a pin. Why would this be?

I think there's an extra hop involved. most merchants here have terminals supplied by AIB or backed by AIB at some point in the chain. So when you tap an AIB card it's able to settle much quicker, where as using a KBC card it'll have to hop over to KBC to see if they can authorised the transaction.

ED E

Creamy Goodness wrote: »

I think there's an extra hop involved. most merchants here have terminals supplied by AIB or backed by AIB at some point in the chain. So when you tap an AIB card it's able to settle much quicker, where as using a KBC card it'll have to hop over to KBC to see if they can authorised the transaction.

If thats the case how can a BOI and N26 card process equally fast when one has to use a non national clearing house?

Spocker

ED E wrote: »

If thats the case how can a BOI and N26 card process equally fast when one has to use a non national clearing house?

Nice infographic from N26 on how they do that:

https://mag.n26.com/what-it-takes-to-send-you-realtime-push-notifications-b84b6002cf20

ED E

That was my point, both N26 and KBC are out of network so purely being out of network doesnt explain the delay. KBC being slow does.

GerardKeating

Creamy Goodness wrote: »

I think there's an extra hop involved. most merchants here have terminals supplied by AIB or backed by AIB at some point in the chain. So when you tap an AIB card it's able to settle much quicker, where as using a KBC card it'll have to hop over to KBC to see if they can authorised the transaction.

I have noticed that AIB does not seem to require an on-line auth for contactless, and KBC do.

Most of the time (when i go Contactless) with AIB, the transactions does not appear on-line for a day or more.

But with KBC, they appear instantly, so perhaps they are going online for authorisations.