Longer delay in online banking BillPay dates?

[Tiny]

Anyone else notice a longer delay in online banking transactions? 

In the past I could set up billpay transactions on Saturday, and if I didn't give it a "pay date" it would usually show the date it would be paid as either Monday or Tuesday.   Now it shows Wednesday. 
It doesn't really matter when I set up the payment - it's always 3 Business days in the future.  (Saturday, Sunday and holidays are not business days).       I noticed this a couple of months ago.  (so it wasn't because October 9th was a bank holiday.) 

I'm pretty sure in the past I could set up a payment on Monday and it would pay the bill on Tuesday (if I wanted it to).   


I haven't had any issues with this.  I always make sure I sit down and set up my payments at least 5 to 10 business days before the bill is due.  But, I have to admit I have a couple of bills that have very short windows (as in I might only have 10 calendar days before it's considered "late".)    So, now I need to really stay on top of those bills so I don't wait to the last day or two - thinking my bank "billpay" payment will make it in time.   

I've also noticed it pushes out the date for transfers between accounts as well.    


On line Bill pay is starting to feel alot like the "time delay" of dropping an envelope with payment in the mail.    I'm not really complaining.    It's just a bit of a paradigm/habit shift I need to make. 



 

[resolution]

I bank at Truist, and it appears that my electronic payments are taking two days. For example something I set up on 10/11 will be paid on 10/13. I remember that it used to be the following day, but I have no idea when that changed.

They do have a big advertisement for paying with Zelle, which will transact in minutes. But since I don't use Zelle, I don't know if you can even pay bills with that or if it is just for paying other people.

[busymom]

I've noticed a slight delay too, when paying credit card bills online.  It used to be no later than the next day, now it's 2-3 days.  I'm not sure if the bank is profiting, or the credit card company.  

[The Walk of the Penguin Mich]

There have been a few times where my scheduled AmEx payment has been processed but not debited against my account.  The only payment I make regularly that has no delay is paying my USAA visa with my USAA account.  My scheduled payments for insurance seem to go out as scheduled.  

Interesting though.  When we paid off our next cruise, we planned to do it through TD’s bank account.  He let me know the money was there, and I made the payment.  2 days later, he asked me if I had paid it because his account had not yet been debited.  My invoice said $0 balance, so I wasn’t concerned.  It took a few more days before his account was actually debited.  

[Tiny]

Oct 11, 2023 11:02:02 GMT -5 resolution said:

I bank at Truist, and it appears that my electronic payments are taking two days. For example something I set up on 10/11 will be paid on 10/13. I remember that it used to be the following day, but I have no idea when that changed.

They do have a big advertisement for paying with Zelle, which will transact in minutes. But since I don't use Zelle, I don't know if you can even pay bills with that or if it is just for paying other people.

I think Zelle is mostly used for paying other people (or small business).   I use zelle to pay for my landscape service (new way to pay added this year).  And I think I will be able to pay my out of state HOA fees with Zelle starting now.  


When I went to pay my landscaper I noticed that zelle had an added "pay on date" feature.   I could schedule the payment for a future date rather than have the money transfer immediately.   

  

[TheOtherMe]

My credit union has always had a rush feature when I pay using their bill pay that I would be charged extra.

I set up credit card payments through the credit card companies website and they seem to be paid on the day I state.

Transfers between accounts happen immediately.  

I do pay the credit card with the credit union by transfer.  The money is transferred immediately out of the checking account, but it takes a few days to show up on the credit card end.