Re: Re: Re: * * Got Taken By Bank One *- * What I'm saying is that there is no law (as far as I know) that says if you take it to the bank today they have to post (credit) it today. They have everything to do with each other in bill payment. The payment is due (meaning it has to be posted, or credited) to your account by the due date. There is no law that says if you hand it to them today they have to give you credit for paying today. Your agreement will say what time they have to receive it for it to be considered paid.
Re: Re: Re: * * Got Taken By Bank One *- * See Regulation CC: http://www.federalreserve.gov/Regulations/regref.htm#cc
Re: Re: Re: * * Got Taken By Bank One *- * Actually that was for availability of funds. FCBA says they have to credit it, even if they post it later, but they can set a cutoff time.
Re: Re: Re: * * Got Taken By Bank One *- * Does it say they have to credit it if it's paid on a weekend? He may have gone through the drive through on a Saturday, it wasn't credited until Monday because it isn't even "received" by the bank until the next business day.
