Pending payment for BOA?

[frogfan12]

I no longer bank with BOA but still have two CCs with them because they are two of my oldest. Yesterday I went in to pay on my CC and when I logged online, it says "pending payment" although I paid cash. Do cash payments not immediately apply to the account? Just curious. I really think BOA likes to wait until the last possible minute to credit accounts (and make customers have late payments), hence the class action lawsuit. 

[john398]

If you paid yesterday and it said pending yesterday they may wait til end of day to post it, or is it showing pending today?

[marty56]

I seem to remember BofA has a cutoff time of 2PM EST for payments in person.  Anything paid after that is  credited the next day which sucks but not unexpected from them.  Save your receipt.

[Cleanmachine]

BOA Web Site:

PAYMENT SCHEDULING

Payments (made to FIA Card Services using the Service): If you complete and enter a Payment Instruction prior to 11:59 p.m. Eastern Time ("ET") then you can enter that same day as the Scheduled Payment Date. If you complete and enter a Payment Instruction after 11:59 p.m. ET, then the earliest Scheduled Payment Date will be the next day. When scheduling payments to FIA Card Services, you must select a Scheduled Payment Date that is no later than the actual Due Date reflected on your FIA Card Services bill. Payments can be scheduled up to a year in advance.

Payments (made to other Payees using the Service): If you complete and enter a Payment Instruction prior to 1:00 p.m. Eastern Time ("ET") on any given Business Day, then you can enter the following Business Day as the Scheduled Payment Date. If you complete and enter a Payment Instruction after 1:00 p.m. ET, then the earliest Scheduled Payment Date will be two (2) Business Days from the date of scheduling. When scheduling payments, you must select a Scheduled Payment Date that is no later than the actual Due Date reflected on your Payee bill unless the Due Date falls on a non-Business Day; if the actual Due Date falls on a non-Business Day, you must select a Scheduled Payment Date that is at least one (1) Business Day before the actual Due Date. In certain rare situations, a payment may take four (4) Business Days to be processed, in which case the Service will notify you within the application of the earliest date that the payment can be scheduled. Scheduled recurring payments (auto-pay) that fall on a non-Business Day will be automatically adjusted by the Service to fall on the prior Business Day.

[frogfan12]

I paid cash yesterday and it is not reflected online as being applied. Even today, it is showing as pending. I thought that cash trumped everything at banks. Apparently not with BOA because they like to take your money, sit on the payment, and not even credit your account. Kind of ridiculous if you ask me. 

[stefanc]

Did you pay at a teller in the branch?

More often than not I pay cash in the branch (occsionally a transfer from checking). It has always shown almost immediately online as pending and shows up posted (with the correct payment date, and payment applied to available credit) the next day. I think once I had a payment show pending for two days, but I don't remember the circumstances surrounding that one.

[frogfan12]

I paid cash to a teller in the branch. There's no reason why it hasn't yet posted. Cash should not be pending for over 24 hours or even one business day. BOA needs to get it together. 

[afbar1114]

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@frogfan12 wrote:

I paid cash to a teller in the branch. There's no reason why it hasn't yet posted. Cash should not be pending for over 24 hours or even one business day. BOA needs to get it together. 

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i paid in cash with cap1 a few times it takes about 24 hours to post. was it a large amount?

[Anonymous]

Many years ago I used to work as a bank teller (NationsBank).

In general, even if you pay cash after the business day cutoff time (usually 2pm local), it will tagged as a next business day transaction.

Different CC's do it differently.  Sometimes the CC transaction cutoff is later in the day.

I do know that my Citibank card updates immediately when I pay cash in person.

[frogfan12]

I paid a whopping $80. And I would like to point out that I went in at about 5:50 PM yesterday. Today at 9:40 it's still marked as pending. And has not been reflected in my available credit. That just irritates me.