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Eric

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Isn’t it curious?

I use MINT on my iPhone to track and monitor my financial activity. There are other such apps... And I use apps for bank and credit card accounts. I’m for instant gratification financial reporting.

When I purchase something using a credit card, the transaction shows up almost instantly in my MINT app and the card app. This happens whether my end of the transaction is at a gasoline pump, or at a checkout point in a store, or even using PayPal.

When I use “bill pay” from a checking account to pay a credit card, that payment along with payments from other customers, appears to be processed by the bank during the wee hours the night it was scheduled.

When I look at my bank account activity the payment transaction shows up when it should, given the banks’ timetable for processing such transactions.

Yet when I look at the activity of the credit card being paid, the payment always seems to take two or three business days to arrive.

The purchase activity and the payment activity are both done by Electronic Funds Transfer - no checks written.

Curious how the credit card account, which knows of a purchase almost instantly, takes many hours to learn of a payment made.

Wonder why that is...


Sent from my iPhone using Tapatalk

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