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It absolutely is that bad. There’s no reason a credit card payment done at 11am on Monday doesn’t take money from my account until Wednesday when I could just g
by atkailash 3y ago
It absolutely is that bad. There’s no reason a credit card payment done at 11am on Monday doesn’t take money from my account until Wednesday when I could just go to Target and have money come out instantly buying something stupid I probably don’t need.
It may be slightly vendor dependent, my rent is usually maybe a day or so faster depending on when I do it, but again, no reason it shouldn’t be instant. (Yes I couldn’t use my debit card but I’m not paying 5% oR so surcharge for that)
- pbreit 3y agoYour credit balance is reduced immediately when you make a credit card payment. For debit card payments, your available balance is reduced immediately. But no money actually moves until overnight.
- throwaheyy 3y agoIt’s not though. Your bank and/or credit card issuer may be that bad but there are plenty of others that operate faster. I pay my Amex card from Fidelity and the balance updates on the Amex immediately and the money comes out of Fidelity the next day.
- pbreit 3y agoI paid IRS at 10am and the money left my checking account at 11am. It absolutely can be that fast with ACH.