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re: Why does online banking transfers not go through on weekends and holidays?

Posted on 9/19/16 at 7:47 am to
Posted by mizzoukills
Member since Aug 2011
40686 posts
Posted on 9/19/16 at 7:47 am to
Has nothing to do with the banks, but rather the Federal Reserve. The Federal Reserve doesn't consider weekends and federal holidays "banking days".


/thread











This post was edited on 9/19/16 at 7:53 am
Posted by the LSUSaint
Member since Nov 2009
15444 posts
Posted on 9/19/16 at 7:55 am to
Money transfers between different banks go thru an ACH process.
There are a ton of reasons.

I use chase, I can transfer between my accounts 24/7.

I think the key to your question is knowing the difference between a transfer and a payment.
Posted by LSURussian
Member since Feb 2005
127260 posts
Posted on 9/19/16 at 7:56 am to
quote:

Has nothing to do with the banks, but rather the Federal Reserve.
Well, that's just wrong.
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