topic Re: ACH Push CC Payment Timeframe? in Credit Cards

ACH Push CC Payment Timeframe? (Update)

Anonymous — Wed, 06 Mar 2019 22:59:49 GMT

I did a push payment via my bank's bill pay last Wednesday, Feb 27th to Chase and Thursday, Feb 28th to Synchrony. Both instantly deducted my checking account the respective (small, but not $1) payments. After that, there's been no other progress, naturally the bank shows and says it's all a done deal. They were both done about 9AM.

[Insert a call from US Bank's fraud department here to verify my phone number is mine. Thanks US Bank, I was typing a forum post.]

Absolutely nothing shows on either Chase or Synchrony, I know it "typically" is 1-3 business days and I'm at that 3 day mark on Chase already, but what has been the timeframe experience from others here? Specifically Chase and Synchrony (PayPal CB MC). Trying not to be paranoid, but I've never used the bill pay system so it's all new to me. What would happen if I had typoed one of the account numbers as well? Would it be returned/refunded timely or would I have to call it in and do a stop-payment? (Fairly sure I didn't but information is always good)

Re: ACH Push CC Payment Timeframe?

rbentley — Mon, 04 Mar 2019 19:08:17 GMT

@Anonymous wrote:
I did a push payment via my bank's bill pay last Wednesday, Feb 27th to Chase and Thursday, Feb 28th to Synchrony. Both instantly deducted my checking account the respective (small, but not $1) payments. After that, there's been no other progress, naturally the bank shows and says it's all a done deal. They were both done about 9AM.

[Insert a call from US Bank's fraud department here to verify my phone number is mine. Thanks US Bank, I was typing a forum post.]

Absolutely nothing shows on either Chase or Synchrony, I know it "typically" is 1-3 business days and I'm at that 3 day mark on Chase already, but what has been the timeframe experience from others here? Specifically Chase and Synchrony (PayPal CB MC). Trying not to be paranoid, but I've never used the bill pay system so it's all new to me. What would happen if I had typoed one of the account numbers as well? Would it be returned/refunded timely or would I have to call it in and do a stop-payment? (Fairly sure I didn't but information is always good)

The title of your post references "ACH push" while the body of your post refers to "bill pay". Those are two different payment methods. ACH payments do often take 3 days. My local credit union delays two days before they push the payment by ACH. I don't know if that is a fraud prevention meausre. Online bill pay times vary by provider and whom the payment is being sent to. Sometimes it is instanteous and shows up the next day, but in other cases they may actually mail out a paper check and it can take 3-4 days before you see the payment posted.

You got caught by the intervening weekend. You should see the payments post as received tomorrow.

As to what happens if you make a type and overpay? Well, you should get a credit after alerting them to the error, but how quickly that happens can vary. Here is a news story from my local news where such a typo resulted no credit being issued for months until the TV stations consumer advocate got involved on her behalf. https://kutv.com/news/get-gephardt/oops-typo-costs-riverton-woman-thousands-of-dollars

Re: ACH Push CC Payment Timeframe?

FinStar — Mon, 04 Mar 2019 19:16:06 GMT

I suppose it depends on the bill payer timeframe for each payee. Since you were paying (pushing) these from US Bank to both Chase and SYNCB respectively, what did it say would be the actual date for paying these 2?

Depending on how they were set up from your end via US Bank, some payments can generally post within the next business day, others could take 2-3 business days and those that normally can't be processed via ACH would generally be processed/paid in about 5 business days.

Did you take a screenshot as a means of reference?

Re: ACH Push CC Payment Timeframe?

Anonymous — Mon, 04 Mar 2019 19:32:11 GMT

@FinStar wrote:
I suppose it depends on the bill payer timeframe for each payee. Since you were paying (pushing) these from US Bank to both Chase and SYNCB respectively, what did it say would be the actual date for paying these 2?

Depending on how they were set up from your end via US Bank, some payments can generally post within the next business day, others could take 2-3 business days and those that normally can't be processed via ACH would generally be processed/paid in about 5 business days.

Did you take a screenshot as a means of reference?

It wasn't from US Bank, I just mentioned them because they had called me in the middle of typing it. Was just their fraud department verifying the number on the application was mine (for a Cash+ card). I was using a local bank's bill pay, the only real information they give as far as "how" it's paid is, if it's a paper check it says "Use Paper: Yes" in the recipient info. Otherwise the info is fairly sparse, just "Recipient Name: Chase Credit Card, Recipient Type: Company. Transaction Type: Bill Pay" (same for Paypal Buyer Credit). It simply comes up as Pay To: Company name, Account number, and confirmation number on the actual payment statement . So I figured it was likely an ACH push. Also it seems for anything requiring paper checks, you have to schedule it for the next day and gets queued, these instantly deducted my checking account and gave me a confirmation number. Figured everything is probably fine, I was just seeing what others have experienced.

Re: ACH Push CC Payment Timeframe?

FinStar — Mon, 04 Mar 2019 19:41:43 GMT

Local or smaller banks typically can take longer than most major banks. This largely depends on the ACH agreements with the payees, batch processing and settlement timeframes.

So, as long as you are familiar with your bill payer's T&C (hopefully you perused it to see how your bank processes these timeframe-wise), then just keep checking your intended recipients to confirm receipt of your payments.

Re: ACH Push CC Payment Timeframe?

rbentley — Mon, 04 Mar 2019 19:51:15 GMT

If I was facing a due date crunch I would do a "pull" from the payee account. Those are usually marked as done the same day. Push payments can take longer and are not considered as paid until received.

Re: ACH Push CC Payment Timeframe?

Anonymous — Mon, 04 Mar 2019 20:04:26 GMT

@rbentley wrote:
If I was facing a due date crunch I would do a "pull" from the payee account. Those are usually marked as done the same day. Push payments can take longer and are not considered as paid until received.

Yeah, every pull payment I've done has posted next day generally and I know they mark as paid same day. I was just seeing the real timeframe for push payments to get around the whole "You can't pay more than your current balance" just to keep a couple cards from reporting balances. Discover did that to me today, gave me the "You cannot make a payment right now, you have a 0 balance" with pending charges yesterday. Today they rolled the charges, then issued the statement, and reported those charges instead of 0. I actually pulled the payment this morning before they even emailed me the statement, or Experian reporting a 'change' to my account (first statement, added the discover account + charges). Nothing major, just 2% uti, but still, trying to AZEO I have auto-PIF just incase I ever miss anything.

Re: ACH Push CC Payment Timeframe?

Jetboy — Mon, 04 Mar 2019 20:09:57 GMT

@FinStar wrote:
I suppose it depends on the bill payer timeframe for each payee. Since you were paying (pushing) these from US Bank to both Chase and SYNCB respectively, what did it say would be the actual date for paying these 2?

Depending on how they were set up from your end via US Bank, some payments can generally post within the next business day, others could take 2-3 business days and those that normally can't be processed via ACH would generally be processed/paid in about 5 business days.

Did you take a screenshot as a means of reference?

I have experienced this with RBFCU. It is driving me away from using there ACH system. And that they will not let you set up external bank accounts for future use...you have to enter the routing and account number each time you want to do an external ACH. They seem to want to make ACH use as inconvenient as possible...ughhh.

Re: ACH Push CC Payment Timeframe?

Anonymous — Tue, 05 Mar 2019 13:15:01 GMT

@FinStar wrote:
Local or smaller banks typically can take longer than most major banks. This largely depends on the ACH agreements with the payees, batch processing and settlement timeframes.

So, as long as you are familiar with your bill payer's T&C (hopefully you perused it to see how your bank processes these timeframe-wise), then just keep checking your intended recipients to confirm receipt of your payments.

Update... Synchrony posted the payment, Chase still has not, despite being paid a day earlier. So 3 business days for Synchrony... Feb 28 - Mar 5, Chase is on day 4, was paid on Feb 27th. Another interesting note, I pulled a payment for Discover yesterday and it was reporting a balance to my CR. Today, however, after the payment has been reflected (next day ftw, even bank account is updated), All reports show 0 balance on Discover. I remember chase reports 0 after balance paid off, wasn't aware that Discover did it as well.

Re: ACH Push CC Payment Timeframe?

Anonymous — Tue, 05 Mar 2019 13:27:29 GMT

Yeah Sync didn’t post my push payment until today but my bank automatically moved my payment delivery date to today when I scheduled it on Thursday evening, debiting my account for it yesterday.

Push payments are kind of nerve wracking, I have been loathing having to make my payments as pull for my Sync accounts but I might just have to start doing it and keep push for emergencies.

Re: ACH Push CC Payment Timeframe?

Anonymous — Tue, 05 Mar 2019 13:36:11 GMT

@Anonymous wrote:
Yeah Sync didn’t post my push payment until today but my bank automatically moved my payment delivery date to today when I scheduled it on Thursday evening, debiting my account for it yesterday.

Push payments are kind of nerve wracking, I have been loathing having to make my payments as pull for my Sync accounts but I might just have to start doing it and keep push for emergencies.

Thinking I will likely do push payments if I intend to do large purchases that will run my uti up preemptively. Or, if a ln AU makes a purchase, push when they pay me. At least Synch was timely (as timely as 3 days is, but still) vs Chase... Kinda jittery that I might have typo'd my chase account on bill pay, and of course security stars keep me from actually checking.

Re: ACH Push CC Payment Timeframe?

Anonymous — Tue, 05 Mar 2019 13:39:23 GMT

Yeah I will keep doing push payments since I actually pay my bills before the statement generates anyway, that gives me plenty of time.

If you are worried you entered it wrong, contact your bank. They can see the account numbers in the bill pay department (although it may be through a third party vendor).

Re: ACH Push CC Payment Timeframe?

Dilbert934 — Tue, 05 Mar 2019 13:53:05 GMT

I was under the impression that a 0% util reported by the CRAs can be a bad thing in some cases, and that it's best to let some small balance be reported.

Re: ACH Push CC Payment Timeframe?

Anonymous — Tue, 05 Mar 2019 14:28:08 GMT

@Dilbert934 wrote:
I was under the impression that a 0% util reported by the CRAs can be a bad thing in some cases, and that it's best to let some small balance be reported.

0% only hurts if all cards report 0%. It helps if all cards report 0% except for one card between 1%-8%

Re: ACH Push CC Payment Timeframe?

UpperNwGuy — Tue, 05 Mar 2019 15:14:29 GMT

Absolutely do a pull instead of a push if you're in a hurry.

I don't believe in AZEO, but my advice to those who practice AZEO would be: don't have pending transactions in the days leading up to the statement closing date. You should stagger the due dates on your cards. Then rotate your cards so you don't have to use them in the days immediately before their statements close.

Re: ACH Push CC Payment Timeframe?

Anonymous — Tue, 05 Mar 2019 16:47:34 GMT

@Anonymous wrote:
Yeah I will keep doing push payments since I actually pay my bills before the statement generates anyway, that gives me plenty of time.

If you are worried you entered it wrong, contact your bank. They can see the account numbers in the bill pay department (although it may be through a third party vendor).

As expected, whole lotta nothin' for calling. My bank apparently CAN'T see the account number to verify it was sent to the proper account. They can only see the last four digits like I can. They did say, however, that their e-payments are 2 business days, so this is well over their processing. They suggested I contact Chase, as it's completely done on their end, then open a dispute. Contacted chase, their automated system and all was clear, then when I got a rep, their voice was extremely choppy and could barely understand them. Naturally all I got from them was they don't see any payments on their end, but they transfered me to the CC department to 'track down' the payment, just to have someone else tell me they can only help with payments made via their portal, and I should open a dispute with my bank. Well... Opened a dispute with my bank, so we'll see what happens!

Place your bets!

1: Is it a system problem? My bank says it was sent and processed last Friday morning. Chase knows nothing about it, limbo?

2: Is it user error? Did I happen to typo it somewhere in the mystical **** part of the account number that nobody can see?

3: Did the e-pidgeon get lost and will eventually show up?

Cast your votes now, you have until my bank emails or calls me back.

Re: ACH Push CC Payment Timeframe?

Kforce — Tue, 05 Mar 2019 19:07:55 GMT

Pushing payments from most Banks-Credit Unions, that use ACH transfers for the payments, take between 1-4 business days. From my CU to Barclay's = 1, CU to (BoW, Citi, Discover, Fnbo) = 2, CU to (US-Bank) = 3, CU to CU = 4. It varies depending on both sending Bank/CU and receiving Bank/CU, some are just faster and others a day or two behind.

Same holds true for Pulls, 1-4 days. Many CC issuers as a service give instant credit however the real transfer is still a couple days out, and subject to the money being there. If trying to control utilization just be sure to send it early

Re: ACH Push CC Payment Timeframe?

Kforce — Tue, 05 Mar 2019 19:23:09 GMT

@Anonymous wrote:

Cast your votes now, you have until my bank emails or calls me back.

My bet, both will clear and be shown tomorrow !

Re: ACH Push CC Payment Timeframe?

Anonymous — Tue, 05 Mar 2019 19:33:52 GMT

@Kforce wrote:
@Anonymous wrote:

Cast your votes now, you have until my bank emails or calls me back.
My bet, both will clear and be shown tomorrow !

That's what I'm hoping for. I can handle a slow payment as long as I know the length of time. Just a bit jittery that my bank says it should have posted already, and the other one saying they have no idea what I'm talking about. Once I know the system works, I can feel better. Like Synch, I sent it a day after Chase, but it already posted and cleared. I have a feeling it's going to end up being a typo or something on my end.

Re: ACH Push CC Payment Timeframe?

FinStar — Tue, 05 Mar 2019 19:44:19 GMT

IMO, it sounds like this was a bit premature to open a dispute given the ACH settlement timeframes can really vary for a variety of payments for different institutions.

I could see going the research or escalation route if your payment had exceeded >5 business days (excluding weekends) if the payment had not been credited/posted to the Chase account. Often times, getting "jittery" on things too early in the process or prematurely, especially if new/unfamiliar with the bill pay service, can open another can of worms. Just my .02¢.