I've had an auto loan with Cap One for over a year; I've been late a few times, but no more than 60 days. Still, I'm regularly about 10 days late with the monthly payment. I made an online payment on 9/12. Cap One credited my account, but to date have not debited my bank account. The payment usually hits my account within 48 hours. It's been almost 10 days. Are they up to something?
I have to ask the obvious here; you are certain that you had sufficient "available funds" to cover the payment? It didn't bounce did it? Also, you're certain the bank account on your on-line payment was correct? As long as your Cap1 account is credited with the payment, you're fine. The clearing lapse on the payment could just be a processing thing. There are many possible reasons for this, that have nothing to do with any questionable motives.
No problem asking the obvious. Yep, funds are available and I check my CapOne account daily just to make sure the payment wasn't reversed because of a transposed number or something like that. You're probably right; it's likely a processing snafoo. I've just heard many a story of midnight repo's, and I wondered if they were trying to justify a repo attempt.
Then you may want to call Cap1 and inquire if there is any problem with clearing the payment. It is a good probability they may have made an error in forwarding the payment to the wrong institution.....
I had the same thing happen to me with an on-line purchase I made with a debit card. The store said everything was OK and cleared, but it didn't show up as withdrawn from my checking account for about a week. If you're concerned (and after 10 days, it might be time for concern) call your bank and see if you can find out more. The transaction should have been registered as an authorization, at least.
