Are banks holding funds for longer periods of time?

rucky

(1000+ posts) Send PM | Profile | Ignore

Wed Sep-24-08 12:35 PM
Original message

Are banks holding funds for longer periods of time?

Two things we've noticed recently: Our settled merchant funds are taking longer (3-5 days) to post to our account. Then a customer just drew our attention to another delay in the process. She placed an order online, but didn't receive a verification that the order was received. We called our merchant service, which didn't have anything. She called her bank, and he funds were taken out of her account, and marked "pending"

In the meantime, the money is somewhere. We suspect they're changing their practices to gain fractional interest, like in Office Space or Superman III. Anybody having the similar problems?

Refresh | 0 Recommendations

Printer Friendly | Permalink | Reply | Top

sybylla

(1000+ posts) Send PM | Profile | Ignore

Tue Oct-21-08 11:01 AM
Response to Original message

1. not a similar problem - but banking experience

And I wouldn't be surprised if banks are doing this. Especially during a crunch, they will always shift the rules and process transactions to their advantage.

Hopefully, this isn't costing you more than a little inconvenience.

Printer Friendly | Permalink | Reply | Top

DU AdBot (1000+ posts)

Wed May 01st 2024, 12:04 AM
Response to Original message

Advertisements [?]

Top

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.