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jeffery581
Posts: 373
Registered: ‎03-26-2010
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citi taking way to long to post ach payment

I have noticed citi takes days to post an ach payment. Of ALL my other cards NOBODY does this on an ACH. I will never apply for a citi card again. Once I get another gas card citi is getting the boot. HSBC, Capital one, GEMB, even Credit One post the ACH payment the next morning, everytime!  What is it with citi? The ach payment is good as cash yet they still take days to post it. What is there problem? Citi is for the birds! I am not playing these games.

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FrugalRican
Posts: 2,876
Registered: ‎02-02-2012
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Re: citi taking way to long to post ach payment

I've noticed this happens with my MBNA card.

I will set the payment for the 8th, and it will recognize the payment on that day, but won't actually physically post til a few days later.

 

In order to avoid a certain sticky situation, I just make sure I "make the payment" at least 5 days before the due date.

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laz98
Posts: 4,336
Registered: ‎09-06-2008
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Re: citi taking way to long to post ach payment

I've noticed this too, but it doesn't really bother me.

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jeffery581
Posts: 373
Registered: ‎03-26-2010
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Re: citi taking way to long to post ach payment

I pay as soon as the statement cuts for other "just in case situations". They are holding my money. Its the principle. It is not right. I bet they are making some extra interest money of folks who dont PIF I bet somehow too. 

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ptr2593
Posts: 1,486
Registered: ‎08-14-2011
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Re: citi taking way to long to post ach payment


jeffery581 wrote:

I pay as soon as the statement cuts for other "just in case situations". They are holding my money. Its the principle. It is not right. I bet they are making some extra interest money of folks who dont PIF I bet somehow too. 


 

They are holding "your" money?  Once you pay them, it is their money.  Why do you care what they do with your payment?  If you post your payment before the due date, they aren't going to charge you extra interest or late fees.  You need only post your payment before the due date.  It is up to them when they process it.

 

 

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jeffery581
Posts: 373
Registered: ‎03-26-2010
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Re: citi taking way to long to post ach payment

[ Edited ]

Isn't interest being added in average daily balance? granted its only 2 days, but.... (x 4 million customers?)

 

 

Plus, when I issue a payment I like to see the payment has posted the next day and has been credit to the proper account. I've just never seen any place that takes so long. Everything else I pay shows the next day. No big deal but its irritating.

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Walt_K
Posts: 3,065
Registered: ‎11-02-2009
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Re: citi taking way to long to post ach payment


ptr2593 wrote:

jeffery581 wrote:

I pay as soon as the statement cuts for other "just in case situations". They are holding my money. Its the principle. It is not right. I bet they are making some extra interest money of folks who dont PIF I bet somehow too. 


 

They are holding "your" money?  Once you pay them, it is their money.  Why do you care what they do with your payment?  If you post your payment before the due date, they aren't going to charge you extra interest or late fees.  You need only post your payment before the due date.  It is up to them when they process it.

 

 


In general, I agree and don't care that much when my payments get applied.  I don't have a Citi card currently.  I could see that it could matter if they are not freeing up the CL while they take the time to process the payment, and are putting you in a position where you can't use the card until they free up the CL again.  Is that the case?


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FrugalRican
Posts: 2,876
Registered: ‎02-02-2012
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Re: citi taking way to long to post ach payment


jeffery581 wrote:

Isn't interest being added in average daily balance? granted its only 2 days, but.... (x 4 million customers?)

 

 

Plus, when I issue a payment I like to see the payment has posted the next day and has been credit to the proper account. I've just never seen any place that takes so long. Everything else I pay shows the next day. No big deal but its irritating.


When I've paid my card, the payment goes through as if it had been paid that day, even though it posts 2 or 3 days later. So the interest is always spot on. MBNA hasn't "cheated" my interest by hard posting the transaction later on. This is what you need to verify.

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Frequent Contributor
jeffery581
Posts: 373
Registered: ‎03-26-2010
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Re: citi taking way to long to post ach payment

The available credit is not an issue. 

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john398
Posts: 3,526
Registered: ‎01-19-2009
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Re: citi taking way to long to post ach payment

When I pay on barclays it showed up right away but took a while for my available credit to show up, I did not mind


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