Transaction posting process

[cr101]

Is it the credit card company that determines when transactions post?

I've noticed with some banks or credit card companies that if the transaction is pending on the statement close date, the transaction will be posted much quicker and will be included on that statement. I've had transactions occur one day and post with the statement close the next day. Is this quicker posting intentional?

[FireMedic1]

Theres been many talks on this with certain banks. Before midnight this time zone. Day later. Same day. And so on. Make your payment a few days earlier so it will post before the statement cuts and no problems.

[SouthJamaica]

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@cr101 wrote:

Is it the credit card company that determines when transactions post?

I've noticed with some banks or credit card companies that if the transaction is pending on the statement close date, the transaction will be posted much quicker and will be included on that statement. I've had transactions occur one day and post with the statement close the next day. Is this quicker posting intentional?

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I have noticed on occasion that the interval between a pending transaction and its posting is sometimes shortened when the transaction date is the day before the statement date.

[cr101]

@SouthJamaica @FireMedic1 Thanks. Do either of you know who makes the decision to "settle" a transaction? Is it the CC company? The issuing bank? I tried reading up on this process, but it looks complicated. I was just curious since it's happened a few times.

[SouthJamaica]

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@cr101 wrote:

@SouthJamaica @FireMedic1 Thanks. Do either of you know who makes the decision to "settle" a transaction? Is it the CC company? The issuing bank? I tried reading up on this process, but it looks complicated. I was just curious since it's happened a few times.

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I have no idea but I'm pretty sure it's the credit card bank, since they're the ones with the incentive to get it posted sooner rather than later.

[AndySoCal]

@cr101  There is no speed difference of how quick posts depending on the statement cutoff date. The speed of which a pending charge goes from pending to posted is related to the one who is requesting the payment.  Here are a few examples

1) When I submit my grocery order on line I will see the pending charge post right a way.  It will not post to the account until the groceries have been delivered.  The tip for the driver will not post until 24 hours after the delivery.

2) When I stayed at a hotel this some summer the pending charge for the stay was on the card the day I checked in.  The charge did not post  to the account until after I checked out. 

3) I submitted on order on line and later that day I cancelled that order and submitted a different order.  The pending charge for the cancelled order never posted to my credit card account.