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What time your bank batches

  • 03-07-2018 9:09am
    #1
    veryangryman
    Registered Users, Registered Users 2 Posts: 5,586 ✭✭✭


    Im doing an app that measures when one can be expected to be paid/withdrawn etc based on the time the cash/transaction went in/out and need to figure out the banks batch times.

    I know PTSB take out around 8pm, but thats as much as my knowledge stretches to. Anyone else with other banks knowledge?


Comments

  • #2
    G_R
    Moderators, Education Moderators Posts: 5,028 Mod ✭✭✭✭G_R


    Payments credit to my ulsterbank account around 10pm the day before they're due if that helps!

    Sending cut off is 3.30 according to the app, but I've send stuff a bit later and it's gone through for next day payment.


  • #3
    368100
    Closed Accounts Posts: 2,067 ✭✭✭368100


    Will be hard to rely on times, some banks do night time sepa settlements, some do daytime or some do both. Also sepa payments will credit at different times to international transfers or same day money transfers.

    Close of business runs can vary, can be delayed by issues in the COB run or by IT deliveries.

    The only rule you can rely in really is that a sepa payment is next day as long as processed by cutoff which for most banks is now around 5/5.30. Its a sepa rule that they must comply with.


  • #4
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,357 Mod ✭✭✭✭Jim2007


    veryangryman wrote: »
    Im doing an app that measures when one can be expected to be paid/withdrawn etc based on the time the cash/transaction went in/out and need to figure out the banks batch times.

    Do you have any experience at all of backoffice operations? You can rely on two things only: the SEPA rules and any conditions attached to the banking license. Beyond that it is pure guesswork on your part. An up stream fails to deliver a file on time, a business team fails to complete a recon process on time, a sys manager changes a job priority or a sys admin needs to bounce a node on a cluster, any number of things can happen to cause a delay.

    There is a reason why we don’t publish such data, we can’t afford to have people rely on it, can you? When you get it wrong are you going to pony up the mortgage penalty, the credit card charges etc??


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