If you bank with AIB in the UK, do you accept credit/debit card payments?
Up to this month, if we took a card payment, it was credited to our bank account effectively next day, and we could post this to the Customer account as paid in full.
At the end of the month, we would receive a summary for all card payments, and the amount due for AIB's charges was deducted by direct debit. This was one single posting to the Purchase accounting side.
WEF July 1st 2020, they are now taking their charges off each individual card payment made to us, hence the payments received don't match what the customer owes.
I have never heard anything so stupid blamed on the Covid-19 excuse, and I have said as much to them. But AIB will not budge.
Also, we realised they have been charging us the Irish VAT Rate of 23%. We've been with AIB for over 20 years, and have a six figure turnover, well above the appropriate limit. Now we have to formally notify them of our VAT number, and go through old card summaries to resolve this issue.
To say that I'm angry and confused, is an understatement.
George