RANT - credit cards

pickarooney

Doesn anyone have a reasonable explanation for this :

I pay €300 from my current a/c into my credit card a/c, using Banking 365.
The money disappears immediately from my current a/c but doens't show up in my CC a/c for a number of days.

??

RainyDay

I pay €300 from my current a/c into my credit card a/c, using Banking 365.
The money disappears immediately from my current a/c but doens't show up in my CC a/c for a number of days.

If your credit card account is at a different bank to your current account, then your payment goes through the normal bank clearing system - This takes 3 days to clear a payment (even electronic payments). This does seem a bit crazy, in this day & age.

if your credit card account is with the same bank as your current account, then you might find that you have an option to 'transfer funds' instead of making a payment. The 'transfer funds' option will do an instantaenous real-time transfer, whereas the 'payment' will go through the normal 3-day clearing process.

dmeehan

if you are "transerring" funds to a visa card then you can only do it by the bill payments option, for both AIB and BoI

AIB allow you to transfer funds from a visa account. I did this last week from my AIB visa to my AIB account. The money appeared in my current account instantly, but the money didnt "leave" my visa account for 2 or 3 days

"that money was only resting in my account":D

RainyDay

if you are "transerring" funds to a visa card then you can only do it by the bill payments option, for both AIB and BoI

That's very dissapointing - My National Irish Bank telephone/internet banking service allows me transfer funds instantly to/from my credit card account.

dmeehan

just cancelled my BoI visa card
i have already paid last years €40 govt. tax and now i am liable to pay this years too..

so i have to fork out another €40 to close the account

i wish they had pointed out when the "year" starts and ends, it would have saved me paying €40:mad: :ninja:

dmeehan

Originally posted by RainyDay
That's very dissapointing - My National Irish Bank telephone/internet banking service allows me transfer funds instantly to/from my credit card account.

do you get charged a cash advance fee for transferring money from visa to your current a/c?

RainyDay

do you get charged a cash advance fee for transferring money from visa to your current a/c?

Unfortunately yes - I asked the same question as soon as I noticed this facility (in the vain home of getting some free money), but not surprisingly, it's treated as a cash advance.

Ivan

I paid €50 for the government charge.

Praetorian

There is a legal way around it. At least there was this year.

I cancelled my card just before the government levy was going to be taken from my card. Then signed up again for a new card. Piece of cake really

eth0_

Originally posted by dmeehan
do you get charged a cash advance fee for transferring money from visa to your current a/c?

If you have money on your visa card no, if you're charging money from your visa to your current a/c then yes you get changed a cash advance fee.

As for the American credit card tip....seriously, are you in touch with reality? You don't automatically get a US credit card if you have an address there. There's this little thing called credit ratings and being a resident of the country and having a job there, you don't get a card without background checks. And it would be so much hassle and expense paying to do a bank transfer into a US account every month, far easier and cheaper just to stick with an Irish card and pay it off in full every month!

Tazz T

I'm going to have a little rant about credit cards since MBNA recently messed up mine too. I already had an MBNA credit card when I saw the new one MBNA card from Ryanair with a free flight offer, so I phoned and asked to switch from one card to another. They said this was fine. I confirmed at least another two times that I wouldn't be left holding two accounts - that it would be a simple transfer and was told this would be the case. A couple of weeks later I get my new card and a month later two credit card statements both with €40 on both. I was raging, phoned them up and said I wanted both credit cards consolidated and they said they couldn't do that. To make matters worse my DD payment was only applied to one of the cards and I got a late payment charge on the other. I've written complaining and if I don't get a decent response I'm transferring to the new Zinc card.

I hate them all.

dmeehan

whats the zinc card?

eth0_

Originally posted by Tazz T
if I don't get a decent response I'm transferring to the new Zinc card.

What, so you can be whacked with another €40?

myhandle

Originally posted by dmeehan
if you are "transerring" funds to a visa card then you can only do it by the bill payments option, for both AIB and BoI

AIB allow you to transfer funds from a visa account. I did this last week from my AIB visa to my AIB account. The money appeared in my current account instantly, but the money didnt "leave" my visa account for 2 or 3 days

"that money was only resting in my account":D

With AIBs 24hour-online.ie can you transfer money TO someone elses credit card (as is possible with accounts)?

BuffyBot

Originally posted by myhandle
With AIBs 24hour-online.ie can you transfer money TO someone elses credit card (as is possible with accounts)?

You can, but you need to set it up with Telephone banking first if you are doing it regularily - if its a once off, telephone banking will do the transfer for you.