General Question

RedDeerGuy1's avatar

What is a normal wait for a bank transfer to a credit card?

Asked by RedDeerGuy1 (24431points) 4 weeks ago
4 responses
“Great Question” (2points)

Mine is three business days.

Is that normal?
Why the delay?
Is It technological?
Or legal?

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Answers

zenvelo's avatar

It depends on the source of the funds and also the amount. And these days it is because banks and others are risk averse; they won’t process too quickly to make sure there is noting untoward in the transactions.

Three days is kinda normal.

If your cc is due on the 14th, and you pay it on the 14th, the cc company will note that you paid on time, but it may take until the 15th before the bank processes the transfer, and then the cc company will not post until the 16th. That’s because they process transactions in batches, not individually.

Pandora's avatar

It really depends. Was it over the weekend or holiday? Also does the credit card belong to the same bank or another bank and is the bank a foreign bank or local? If its a credit card from your bank, then it can be the same day. Over the weekend or holiday, it can take 2 to 4 days for a bank somewhere else. For a foreigh credit card with no local ties, it can take up to a week.If its a scammer. One day. LOL

Forever_Free's avatar

It varies. They will list how many days to expect. Banks vary on so many things. Then the Credit Card companies vary for posting it.
I have seen same day for AMEX to 10 days for a shit card from a Credit Union.

LadyMarissa's avatar

It might be different in Canada, but here in the US, it normally takes 3 days for the transaction to complete; however the credit card companies log in the payment on the day you made it & NOT the day they receive it. I have 1 company where the payment MUST be completed by 8pm in order to get same day privileges. Most of my others, if completed by 11:59pm they consider it received on the current day.

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