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Super Contributor
DI
Posts: 5,744
Registered: ‎01-28-2008
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Re: Chase payment Due Today Sat, paid in cash and......

If I  deposit $500 in cash in my checking account on a non-business day  the money won't all be available immediately.  It  seems the same thing goes for when making payments too.  The transaction will remain pending until the next business day. 

Regular Contributor
daylove
Posts: 146
Registered: ‎08-06-2009
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Re: Chase payment Due Today Sat, paid in cash and......

Payment due on a Sat or Sunday should be paid on Friday...always pay on a business day (Mon-Fri)

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Epic Contributor
haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
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Re: Chase payment Due Today Sat, paid in cash and......

[ Edited ]

usmc58555 wrote:


All in all I simply think its insanely stupid that a cash transaction at the actual bank of the account cannot get a same day credit when the due date is THAT day.

 

I mean the only solutions are Rube Goldberg work arounds?

 


+1

 

And for those commenting about when things ought to be paid and how, you might want to realize that OP is not one of the flakier members here by any means. I think he knows how to pay his bills. :smileywink:

 

Every now and again, we're all gonna **bleep** up. Guaranteed. If it hasn't happened to you yet, it will. A week with a Monday holiday where Friday "feels" like a Thursday; set up bill-pay for the wrong account; paid out of the wrong account; paid TO the wrong account; you name it. If it happens, and you have to go into scramble mode, it's useful to know what does and does not work.

 

This aging, doddering member (me, I mean) learned something today about how payments are credited, and there might be a few others who did so as well.

 

 

edited to re-insert random semi-colon

edited also to apologize for anyone offended by the **bleep.** It wasn't an obscenity, it was a common use of the word that describes how one removes the top of a jar, but since it was used too often here in a bleep-you context, it wound up on the naughty list. One day I'll remember that.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Valued Contributor
athensguy
Posts: 1,291
Registered: ‎02-26-2008
0

Re: Chase payment Due Today Sat, paid in cash and......

It would be illegal for them to charge you a late fee:

Credit CARD Act

Section 106:

"(a) In General- Section 127 of the Truth in Lending Act (15 U.S.C. 1637) is amended by adding at the end the following:

 

‘(o) Due Dates for Credit Card Accounts-

 

‘(1) IN GENERAL- The payment due date for a credit card account under an open end consumer credit plan shall be the same day each month.

 

‘(2) WEEKEND OR HOLIDAY DUE DATES- If the payment due date for a credit card account under an open end consumer credit plan is a day on which the creditor does not receive or accept payments by mail (including weekends and holidays), the creditor may not treat a payment received on the next business day as late for any purpose.’."

 

AND

 

From Section 202:

 

"(C) PAYMENTS AT LOCAL BRANCHES- If the creditor, in the case of a credit card account referred to in subparagraph (A), is a financial institution which maintains branches or offices at which payments on any such account are accepted from the obligor in person, the date on which the obligor makes a payment on the account at such branch or office shall be considered to be the date on which the payment is made for purposes of determining whether a late fee or charge may be imposed due to the failure of the obligor to make payment on or before the due date for such payment.’."



Valued Contributor
bunnyrabbit
Posts: 1,413
Registered: ‎01-20-2008
0

Re: Chase payment Due Today Sat, paid in cash and......


usmc58555 wrote:

Ok, Lets talk.

 

Its a Chase Freedom Card.

 

The Due Date was/is 6/18. Saturday. Today.

 

Online Billpay from my two main Banks/accounts USAA AND NFCU, (and even if I used my local Dollar bank) does not do weekends.


When setting the online bill pay I accidentally set it to Capital One one the 17th, when I logged into my account this morning I saw the error realized what I had done and immediately drove to Chase with cash to pay the bill.

 



Have you ever tried to pay through the Chase Credit Card Online Acct?   It's much better than pay at the bank at last minute.  I normally pays through the bank web site, but sometimes I had to make the payments through the credit card online acct to be ON TIME.  

 

In the past, I made the payment on the due date and somehow it was posted as received payment on the following day.  I called in and rep saw the transaction made on the due date and waved late fee for me.

 

IMO ~ payment with cash at bank is inconvenience.   Wait in the line is the most wasting time ...   So, I am so used to do online banking and bill payments.   :smileytongue:

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
It's very tough with small income ~ The Rewards are big little helper to me.
Valued Contributor
usmc58555
Posts: 1,668
Registered: ‎02-18-2009
0

Re: Chase payment Due Today Sat, paid in cash and......


DI wrote:

If I  deposit $500 in cash in my checking account on a non-business day  the money won't all be available immediately.  It  seems the same thing goes for when making payments too.  The transaction will remain pending until the next business day. 



Umm again as I said about Chase's policy and this one, its really institution specific.

My Local bank is Dollar Bank, and they are known to have late open drive up windows. (7 and 8 at night)

 

I specifically asked and was told that when cash is deposited in either checking or savings to a teller, the second they enter/finalize the transaction the money is available.  It would stop someone from depositing money on Friday night and having a debit card transaction blocked.

 

Again I understand many things, and the crisis was averted. I can even understand if this transaction was say after 2:30 on Saturday.

My issue, and apparantly other peoples issue was, how can you actually be open, at a normal, fully functional branch, with a teller involved cash transaction and not get credit at 9:30 in the morning.


If other people were not thinking something was wrong they would not have amended the law.

Signature line begins:
Credit is not a right, but a business transaction, one that takes into account risk, and charges accordingly based on that risk.
Your credit score is an aspect of your credit profile. Important? yes but just an aspect. Contributing/supplemental information determines the finer point of the deal. Ask any question, respect me not to get mad if the answer is not the affirmation you are looking for,
Valued Contributor
bunnyrabbit
Posts: 1,413
Registered: ‎01-20-2008
0

Re: Chase payment Due Today Sat, paid in cash and......

[ Edited ]

Do you have banking acct with NFCU?    If not don't you open one ... I just guessed from your user name.  If you are not eligible, sorry ...

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
It's very tough with small income ~ The Rewards are big little helper to me.
Valued Contributor
usmc58555
Posts: 1,668
Registered: ‎02-18-2009
0

Re: Chase payment Due Today Sat, paid in cash and......

[ Edited ]

I have a banking account at both NFCU and USAA. The closest NFCU branch to me is the federal building 30 minutes highway then parking fun away. I understand about some mutual credit union reciprocity but...., i use them for dd. My cash income I deposit to Dollar Bank free checking. Then just write myself a check that I scan into USAA and pay bills from.


The Freedom card is my oldest active line of credit.


 

Signature line begins:
Credit is not a right, but a business transaction, one that takes into account risk, and charges accordingly based on that risk.
Your credit score is an aspect of your credit profile. Important? yes but just an aspect. Contributing/supplemental information determines the finer point of the deal. Ask any question, respect me not to get mad if the answer is not the affirmation you are looking for,
Valued Contributor
bunnyrabbit
Posts: 1,413
Registered: ‎01-20-2008
0

Re: Chase payment Due Today Sat, paid in cash and......

So, then do you have Chase CC online acct?  and able to log in to your Freedom acct?

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
It's very tough with small income ~ The Rewards are big little helper to me.
Contributor
Amnesia87
Posts: 132
Registered: ‎12-07-2010
0

Re: Chase payment Due Today Sat, paid in cash and......


bunnyrabbit wrote:

So, then do you have Chase CC online acct?  and able to log in to your Freedom acct?


This is what I'm currious about... Why are you trying to send the money using bill pay with NFCU or USAA? It seems it would be more efficient to access your Chase account and PULL the money, since in general, when you do that, even if the money isn't pulled until later, it counts for that day, and is logged in their system as paid on that date.


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