Why can’t Computer, to Computer banking transactions happen on the weekend or holidays?
mrjonessr41 asked:
I don’t get why I can’t do banking transactions that actually post, on the weekend and especially on any holiday that they can come up with. Why do Computers need days off?
I took money from 1 account and moved it into a checking account for today’s activities, Now it’s out of 1 account and not yet posted to the other and won’t be until 6am, well no person will be at Wachovia a 6am either, so why can’t it just post now? lol, I hate writing checks.
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I don’t get why I can’t do banking transactions that actually post, on the weekend and especially on any holiday that they can come up with. Why do Computers need days off?
I took money from 1 account and moved it into a checking account for today’s activities, Now it’s out of 1 account and not yet posted to the other and won’t be until 6am, well no person will be at Wachovia a 6am either, so why can’t it just post now? lol, I hate writing checks.
June 8th, 2009 at 2:00 pm
I don’t know why your bank does that, never had a problem transferring money around in my accounts with Wells Fargo.
June 9th, 2009 at 12:29 pm
Computers don’t need days off, but the people that run them and the banking systems do.
None of the government agencies (treasury, etc.) are open on these days, so there is no “banking business” on these days, therefore no online banking, posting, etc. to your account.
June 12th, 2009 at 8:25 pm
The computers don’t need days off. Actually, your transactions (deposits, etc.) go through. With BofA (God help me!), all transactions can be posted immediately through an ATM. If you deposit cash through the ATM, the funds are immediately available. I believe it’s the same way with checks. Of course, you can’t use the lobby or drive-in tellers during holidays, but I have not had any problems. Because of the financial mess that is going on, I even thought about moving my account but so far everything is fine.
June 15th, 2009 at 4:00 am
It is not the computer that is holding up the transaction. It is the Federal Reserve. When transfering funds from one bank to another the money goes through the Federal Reserve, which is a government agency that takes weekends and holidays off.