I've been fairly remiss at keeping an eye on my (2) current accounts with BOI. Basically my salary goes into one which I also use for Laser/cash spending, and mortgage/bills come out of the other. (works for me). Anyway decided to pay closer attention to accounts using online banking. (Trying to build up New York shopping fund).
Last night checked one of my accounts (the bills/mortgage account) which should have had mortgage coming out yesterday. I had transferred in sufficient to cover it plus a bit extra last Friday. This should have left a balance of €2k if the mortgage had not come out and €400 if it had. Anyway, having checked online the balance was a negative figure of over €400. Even worst going back several months in online 'customise a statement' there were incorrect plus/minus signs on transactions, wrong amounts, some transactions missing (e.g. my March mortgage payment missing in its entirety). As I use this account in such a structured manner,it's always been in credit and I pretty much follow the same transfer in/transfer out pattern every month. Checked with telephone banking and same negative balance quoted. Did panic a bit in case account in unauthorised overdraft and had bit of sleepless night.
Anyway checked this am - and all was back to normal and the expected positive balance there and mortgage taken out. Panic over.
Decided to ring BOI Banking 365 and was told that this is due to 'shadow banking'. From 10pm every night (as it was described to me) the bank's IT system goes through all accounts to 'check' them and this can result in duplicate, missing, or simply incorrect information whilst this is ongoing. This 'fixes' itself during the night.
Bizarre? Anyway the lesson is not to check BOI after 10pm and before 9am.
Has anyone ever heard of such an issue?
Should I be concerned about this random account adjustment?
Should BOI?!
Last night checked one of my accounts (the bills/mortgage account) which should have had mortgage coming out yesterday. I had transferred in sufficient to cover it plus a bit extra last Friday. This should have left a balance of €2k if the mortgage had not come out and €400 if it had. Anyway, having checked online the balance was a negative figure of over €400. Even worst going back several months in online 'customise a statement' there were incorrect plus/minus signs on transactions, wrong amounts, some transactions missing (e.g. my March mortgage payment missing in its entirety). As I use this account in such a structured manner,it's always been in credit and I pretty much follow the same transfer in/transfer out pattern every month. Checked with telephone banking and same negative balance quoted. Did panic a bit in case account in unauthorised overdraft and had bit of sleepless night.
Anyway checked this am - and all was back to normal and the expected positive balance there and mortgage taken out. Panic over.
Decided to ring BOI Banking 365 and was told that this is due to 'shadow banking'. From 10pm every night (as it was described to me) the bank's IT system goes through all accounts to 'check' them and this can result in duplicate, missing, or simply incorrect information whilst this is ongoing. This 'fixes' itself during the night.
Bizarre? Anyway the lesson is not to check BOI after 10pm and before 9am.
Has anyone ever heard of such an issue?
Should I be concerned about this random account adjustment?
Should BOI?!