AIB End Of Day Balance

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kamakaze J

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In the AIB website it says to avoid banking fees you need to:

"Personal current account customers who maintain a minimum daily credit statement balance of €2,500 in the account for each fee quarter can qualify for maintenance and transaction free banking.
The statement balance is the end of day account balance."

Does this end of day account balance refer to a 24hour day or within banking hours day?
So for example;

If a cheque was cashed before 5pm that brought the balance below €2,500 but at 7-8pm on that same day I transferred money from another current account (also within AIB) to this account to bring the online balance above €2,500, the end of day balance on my statement should be above €2,500 correct?

Looking at my online banking it seems the money I transferred didn't go through to the next banking hours day.

Considering the terms and conditions don't state exactly when the end of day occurs I think I should have a case but I'm not sure how I can prove at what exact date and time I transferred the money from one account to the other.

Before I ring them I just want to see if ye think I'm correct or if there is something mentioned in the T&C's that I'm missing.
 
You need to keep a 2,500 EUR cleared funds end of day balance each and every day to qualify.

Don't know what time of day "end of day" is with AIB. With some other banks, end of day, means 11:59 PM on the relevant business day.
 
CiaranT said:
Don't know what time of day "end of day" is with AIB. With some other banks, end of day, means 11:59 PM on the relevant business day.
Click to expand...

That's my question. If their T&C's don't state anything contrary to this then surely an online transfer from one AIB account to the other at anytime before 11.59pm should have come up on the statement as being on that same business day.

I'm building a house at the moment so have loads of transactions on this account so fear I will get fleeced on fees if I argue this with them.

Problem is I have no way to prove exactly when I transferred the money.
Will their system show the exact date and time it was transferred?
 
I have just logged in to AIB online banking and looked at the 'transfer between accounts' option. It clearly states this at the bottom of the screen

Transfers made between your AIB accounts will take effect instantly. Transfers to meet transactions that have been presented to your account on a business day must be made before 19:00 on that day. For transfers from AIB Credit Cards please be advised that a Cash Advance Fee may apply.

So my reading of that is that while the money transferred from your savings account to your current account may have taken effects immediately, you would need to have done that before 7pm (on a normal business day) to ensure it kept your current account above the €2,500 limit to avoid fees. You say you did the transfer sometime between 7pm and 8pm so too late to affect the balance.
 
Thanks. That's it so if I had it done an hour earlier it would have shown up in same days balance.

Your correct their online banking does clearly state Transfers to meet transactions that have been presented to your account on a business day must be made before 19:00 on that day

I know their T&C's do state "The statement balance is the end of day account balance. It is not impacted by any uncleared items, e.g. due to cheques lodged but not yet cleared or pending debit card transactions."

Considering transfers made online between AIB accounts take effect instantly the only chance I'd have so is to argue that that the 7pm deadline for these to show up on the end of day balance is not clearly stated on their T&C's.

Doubtful I'll manage to argue that so probably best if I try and use a different account for most of my transactions for the next 2 months so.
 
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