Citi Payment~why So Long?

Citi always states 3 to 4 business days for payment to post.
When I make a payment it usually tells the date the payment will post.

Remember it is 6 days to set up the banking part.
Why would they hurry on posting payments?

When they first started online payments I was hit with a late fee because of slow posting.
I called and had a fit and they removed the fee.

My argument was they are the largest bank and take the longest to post a payment.

 

My payment was supposed to post on 2/21 per the system and it has not. I just sent an e-mail to Citi asking why??They already pulled the money from my checking account on Wednesday, 2/20..

 

Pay early!! I usually pay it a few days after it closes. They like me.

 

You can make them like you, George. Pay them early, pay 3-4 times minumum, but keep a nice balance, so they make some money. Our balances are their "assets."

All the CC Co's are scared of defaults right now. I read recently that there have been a lot of defaults and bk's on accounts of long-time good standing. You gotta let them know you're not going to be one of those.

 

I noticed that they take a long time when you use their payment system. I use bill pay through my credit union and they have the capability to send payments to Citibank electronically. It takes 1 day if you do it before a certain time (1pm?) or 2 days if you do it after the cut off time. The payment posts to Citibank like ASAP.

 

My payment posted today 2/23. System staed it would post on 2/21. Funds pulled from my checking on 2/20. They kept my money 1 day before applying it to my account. Add that up and they accrue millions by holding everyones money 1 day!

 

It's usually better to pay each CC twice a month.

First, as soon as you get the (online) statement, pay the minimum amount due (preferably online).

Second, to utilize your grace (i.e. interest-free) period, make an additional payment closer to the due date.


99% of the time, my second payment posts before the due date, thus I'm paying no interest. And if, for some reason, it posts after the due date, my account would still be in good standing.


Saar

 

Yeah, they're "floating" it a day or so.

 

George,


I have Citibank auto-pay and they deduct automatically from my checking account by due date. They posted it at the same day.



Ron.

 

This has nothing to with slow paying.late charges on this is a con game.

 

There is nothing to argue about because you never paid late.

 

lbrown59

I agree, I authorized my payment and they took 4 days to deduct and apply it.

If you notice on their web site they now explain it will take 3-4 days to post a payment.

Way back then, when that happened there was no mention of a delayed posting.

They did credit the late fee.

And now that I know how the game is played I make sure any payments are at least a week or more in advance.

 

George,

I agree but try and get Citibank to see the point.

I have tried for years.

 

I can issue an ACH from my online bill pay and get faster results than paying on Citibank's web site.