# Processing time for Standing Order between BOI & AIB



## T_Virus (17 Nov 2008)

Hey folks,

I've recently arranged for my wages to go into my BOI account and set up a standing order from that account into my AIB account that I use for day to day spending (e.g. Petrol for work, etc).

I set it up to leave my BOI account on 14/11 (Friday last) - sure enough the money was gone that morning. It's still not in my AIB account though which left me a bit screwed for money over the weekend, and pretty tight for money unless it goes in today

Does anybody else have experience with this? I've set the SO up through the online system, checked the bank account/sort code too in case the money went to somebody else but everything appears in order - I just want my wages paid in on the Friday of every week.

Should I just call the bank?


----------



## Towger (17 Nov 2008)

To put it very simply, they will tell you "It takes 3 bank working days". It can be done faster, but then the money does not sit in limbo for a few days, so the banks make no interest on it. If you do a search you will find multiple threads on the same topic.


----------



## T_Virus (17 Nov 2008)

Yeah, I meant to post back to say I'd done a search after posting (I know, a silly thing to do).

So with the in mind, should I set up the Direct Debit to leave BOI on a Monday, so it arrives in AIB on the Friday?


----------



## Towger (17 Nov 2008)

T_Virus said:


> So with the in mind, should I set up the Direct Debit to leave BOI on a Monday, so it arrives in AIB on the Friday?


 
Yep, but Wednesday will do, once the money leaves the account before 10am etc depending on the bank. It can be done next day once the transfer goes through in the morning, but the banks have not bothered to change their (Internet) software.


----------



## T_Virus (17 Nov 2008)

Ahh right, that's great, thanks for your help


----------



## TarfHead (17 Nov 2008)

Hang on ..

A Standing Order is based on 20+ year old processes. All other things being equal, the money should be in your account tomorrow morning. BoI would have '_handed over the payment_' to AIB this (Monday) morning.

An interbank standing order can not '_be done faster_'. It *could* be done faster, but can *not* be done faster under the existing system.

Why not get your wages paid into the BoI account, if that is where the money needs to be ?

'_but the banks have not bothered to change their (Internet) software. _'. The banks don't have '(_Internet) software_'. The processes supporting payments initiated via a browser-based application are similar, but different, to those intiated by Standing Order. The Standing Order payment process has not changed materially in many years. The browser-based applications have.


----------

