delays in internet banking transactions appearing online

C

Charley

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Can anyone working in the banks I.T. depts explain why it takes so long for transactions to appear via internet banking on irish bank accounts?

It often takes several days - even up to a week for debits & withdrawals to appear online so it makes it difficult to keep track of cash and what was spent where etc.

When living in the states, as soon as I used my card anywhere, the transaction was pending immediately and usually cleared within one day, making it much easier to reconcile funds available.

Why is there such a delay here?
 
Re: delays in internet banking

In general I have not experienced those delays with AIB , BOI or Per/TSB.
 
Re: delays in internet banking

With Ulster Bank transactions appear straightaway. Only yesterday I went to the ATM and as soon as I got to the office (3 mins later) the withdrawel appeared. Same with Laser transactions. Although I don't see them immeadiately, my balance is different to the amount available, the difference being the Laser transactions that are going through.
 
Re: delays in internet banking

The only delay i have found with PTSB is Laser transactions - the cash flow is real time - i.e. if i have €50 in my account and make a €50 transaction i cannot spend anymore but the actual transaction details take days to appear online.
 
Re: delays in internet banking

The transactions might take a few days to appear on your online account, but the funds have been taken and you should see that your available balance is lower.

In cases where it takes up to a week for some transactions to appear could be because of the shop. Some places do their readings every day other every other day and then some every week. They have to do these 'x' and 'y' readings to fully complete the transaction going through. Untill they do those the transaction wont appear on your statement. It was a while ago that i was envolved in doing this but i think the shop has up to a month before they lose the money...but i might be wrong on this.
 
I know the available balance is reduced but it would be handy to be able to see the list of purchases online as soon as they're gone through. It can be difficult to reconcile the before & after balance if you've made a lot of small purchases and you can't see what the pending transactions are for.

Curious because, if the available balance has already reduced, then surely the bank have a record of the transaction taking place, so why isn't it displayed as a pending transaction in that case?

surely it can't be that every single shop or business in the US completes their transactions quicker than the irish ones??

Could it be the different machines used? In the US they have card readers where you swipe the card as opposed to inserting.
 
Charley said:
Could it be the different machines used? In the US they have card readers where you swipe the card as opposed to inserting.
Click to expand...

The retailer name is not always available/accurate at time of payment, so the transaction narrative is generic until the retailer presents the payment for value.
 
Re: delays in internet banking

samanthajane said:
The transactions might take a few days to appear on your online account, but the funds have been taken and you should see that your available balance is lower.

In cases where it takes up to a week for some transactions to appear could be because of the shop. Some places do their readings every day other every other day and then some every week. They have to do these 'x' and 'y' readings to fully complete the transaction going through. Untill they do those the transaction wont appear on your statement. It was a while ago that i was involved in doing this but i think the shop has up to a month before they lose the money...but i might be wrong on this.
Click to expand...

They can in theory take up to a month to finalise a transaction, but in reality the machine auto completes the transactions everyday at approx 3am. The retailer does not need to manually do anything to get his money. The 1 month is to allow firms like car hire companies to keep pre-auth amounts open until a car is returned.
 
Must be new technology or just the larger shops.

When I had my terminal I had to do both the readings myself or the money would of never gone into my bank account.
 
I have experienced this too Its a nuisance! ATM transactions appears immediately but laser card and DD transactions often dont!
 
It amazes me that electronic transfers can take 3 to 5 working days plus bank holidays. It disappears from one account and is in limbo for a few days. It’s all automatic, does the computer take week-ends and holidays off?
 
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