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Hm. I'm amazed that, considering the fast-paced technologically-advanced world we're living in, the banks and credit companies fall behind in incredibly stupid little piddling things.
I bough Tales of Symphonia on the weekend, and used my Visa for it. Now, I understand that most of the transactions will go through on the following business day, but here we are at the end of the next business day and it's still not listed in my statement. (I'll probably pay it off before it shows up on the statement, anyhow. XD)
I've found that with a lot of places, actually. I guess that Future Shop just waits until they have a certain number of Visa transactions, then makes the call to Visa and passes them all through or something. (At Canadian Tire, the credit card transactions wouldn't go through until the end-of-day, which was processed at around 11pm, depending on sales. This also allowed us to reverse credit card transactions in case there was a return on the same day.)
Maybe the long weekend had something to do with it? They probably had a ton of transactions to pass through this weekend.
Also, why do payments take a business day to process? They take my money immediately (holding process), then pay off Visa tomorrow. (Probably the same thing - Visa's phone lines must light up all night...)
And yet, my debit card is totally up-to-date. Probably because that's "real" money.
~~~
OMGOMG Peasant's Quest is up! :D :D I'll be playing... er no, I gotta get to bed. But at least there's a "save" function! :D
I bough Tales of Symphonia on the weekend, and used my Visa for it. Now, I understand that most of the transactions will go through on the following business day, but here we are at the end of the next business day and it's still not listed in my statement. (I'll probably pay it off before it shows up on the statement, anyhow. XD)
I've found that with a lot of places, actually. I guess that Future Shop just waits until they have a certain number of Visa transactions, then makes the call to Visa and passes them all through or something. (At Canadian Tire, the credit card transactions wouldn't go through until the end-of-day, which was processed at around 11pm, depending on sales. This also allowed us to reverse credit card transactions in case there was a return on the same day.)
Maybe the long weekend had something to do with it? They probably had a ton of transactions to pass through this weekend.
Also, why do payments take a business day to process? They take my money immediately (holding process), then pay off Visa tomorrow. (Probably the same thing - Visa's phone lines must light up all night...)
And yet, my debit card is totally up-to-date. Probably because that's "real" money.
~~~
OMGOMG Peasant's Quest is up! :D :D I'll be playing... er no, I gotta get to bed. But at least there's a "save" function! :D
no subject
I dunno why the payments take a day. I believe though, it has to do with the fact that the bank has to approve and verify the transaction. It's because you're fiddling around with something directly in your bank account, so they want to make sure and add as much security to it as possible.
The debt card is a direct access card that is attributed to the bank. Visa or any credit company is a 3rd party company just like any other company not the banks. I guess they trust their own system moreso than they trust Visa's system... If that makes sense. There might be something else to it too. Not sure. Probably has something to do with the insurance the bank has. ie, in a fraudulent situation, they probably have insurance to cover their debit cards, but there would probably be a huge arguement between Visa and the banks if there wasn't that one day "checking" period. Just my guess.
no subject