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Started By
Message
Why does online banking transfers not go through on weekends and holidays?
Posted on 9/19/16 at 7:36 am
Posted on 9/19/16 at 7:36 am
I understand this pre-internet, but no post-. Why are these transactions not automatically going through? I did Airbnb this past weekend and that transaction goes through Saturday but never posts until Wednesday. Frustrating...
13
Posted on 9/19/16 at 7:37 am to rpg37
The lest teller to leave on Friday turns off the internet and locks the door.
Posted on 9/19/16 at 7:42 am to rpg37
quote:
understand this pre-internet, but no post-.
What does the internet have anything to do with it?
Most banks operate their business days as 8AM-5PM Mon-Fri, with the exception of Federal Holidays.
The internet didn't change this, its been that way for a very, very long time.
Posted on 9/19/16 at 7:43 am to rpg37
Mine do 
Change banks
Change banks
Posted on 9/19/16 at 7:47 am to rpg37
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
/thread
This post was edited on 9/19/16 at 7:53 am
Posted on 9/19/16 at 7:55 am to mizzoukills
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.
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 on 9/19/16 at 7:56 am to rpg37
Mine go through instantly. I am talking about transfers to other accounts in the same bank.
Posted on 9/19/16 at 7:56 am to mizzoukills
quote:Well, that's just wrong.
Has nothing to do with the banks, but rather the Federal Reserve.
Posted on 9/19/16 at 7:58 am to rpg37
Payments are done in batches after settlements are received from card companies such as visa. Look at your available balance, not posted.
Posted on 9/19/16 at 7:58 am to LSURussian
quote:
Well, that's just wrong.
If it's between different financial institutions it's 100 percent correct.
If it's between accounts within the same institution, the OP needs to familiarize him/herself with the financial institution's posting policy.
/thread
This post was edited on 9/19/16 at 8:01 am
Posted on 9/19/16 at 8:00 am to ACT
They not doing real time updates.
Get another bank.
Ask next time.
Get another bank.
Ask next time.
Posted on 9/19/16 at 8:00 am to rpg37
Because those are not banking days.
It is odd though. I use Square for credit card payments, and I can get money instantly from them if I pay 1% extra on processing. Usually don't do it though. One time I was at costco and forgot they stopped taking AMex, so while in line I swiped my Amex into my square reader and transferred the money to my bank account and used my debit card.
It was a Saturday or Sunday.
So a bank could do transactions when not open, but they choose to only allow debits and not credits.
Posted on 9/19/16 at 8:13 am to rpg37
Yea, "online" is just a front on top of the same old system.
Posted on 9/19/16 at 9:06 am to rpg37
The most frustrating thing to me is that restaurant/bar tips do not post until Monday or Tuesday, but the actual price pre-tip posts automatically. I hate getting surprised with the tips in the beginning of the week.
Posted on 9/19/16 at 9:11 am to MaHittaMaHitta
Within same bank it should be instant.
Between institutions it has to go through a process that requires federal reserve to be open.
I believe.
Between institutions it has to go through a process that requires federal reserve to be open.
I believe.
Posted on 9/19/16 at 9:17 am to TheCaterpillar
quote:
Within same bank it should be instant. Between institutions it has to go through a process that requires federal reserve to be open. I believe.
This is correct.
Posted on 9/19/16 at 9:19 am to rpg37
quote:
Why does online banking transfers not go through on weekends and holidays?
Why does you not talk English very good?
Posted on 9/19/16 at 9:24 am to rpg37
Federal Reserve not open at those times.
Posted on 9/19/16 at 9:24 am to rpg37
quote:
Why does online banking transfers not go through on weekends and holidays?
USAA for me, appears instantly.
I can transfer money from my local bank to USAA and it immediately posts. I do believe, however, they are "fronting" me the money, based upon my customer and credit history - but nonetheless, it's still available.
Posted on 9/19/16 at 9:27 am to rpg37
quote:
that transaction goes through Saturday but never posts until Wednesday
You must be with Bank of America.
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