Tilted Forum Project Discussion Community - View Single Post - Why don't purchases clear my bank account immedently when using a check card?

ibis · 07-12-2004, 10:40 AM

hey~

Why does it take so long for finacial transaction to take place? For instance, I pay Geico $93 on my check card on Friday. Come Monday, not only has it not hit my account, my bank doesn't even show it as a pending transaction. Yes, I know the weekends are not business days... but people aren't processing these transactions, it's all automated w/ machines. [sarcasm] The last time I checked, computers still work on the weekends.[/sarcasm].

I do think how it's charged makes a difference. I've noticed when I use my check card as a debit card it goes faster then as a Visa card. I assume that's because the transactions have to go through less "hands" to get to my account.

Nevertheless, this is the 21st century - why can't these things be automatic?

07-12-2004, 10:40 AM	#1 (permalink)
ibis PIKE!	Why don't purchases clear my bank account immedently when using a check card? hey~ Why does it take so long for finacial transaction to take place? For instance, I pay Geico $93 on my check card on Friday. Come Monday, not only has it not hit my account, my bank doesn't even show it as a pending transaction. Yes, I know the weekends are not business days... but people aren't processing these transactions, it's all automated w/ machines. [sarcasm] The last time I checked, computers still work on the weekends.[/sarcasm]. I do think how it's charged makes a difference. I've noticed when I use my check card as a debit card it goes faster then as a Visa card. I assume that's because the transactions have to go through less "hands" to get to my account. Nevertheless, this is the 21st century - why can't these things be automatic?