Bills only paid during Bank hours | Tangerine Bank | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
sp_Search Search
Advanced Search
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Search Search
Go to Bottom
No permission to create posts
sp_Feed Topic RSS sp_TopicIcon
Bills only paid during Bank hours
April 16, 2018
6:18 pm
bankinformer
Member
Members
Forum Posts: 7
Member Since:
July 13, 2014
sp_UserOfflineSmall Offline
Go to Top
1sp_Permalink sp_Print

Tangerine a virtual bank only pays bills during Bank hours. You have to go online and pay bills during those period.

Example. If a bill is due on Saturday you have to pay it the prior day or leave the amosf-surprisedsf-confusedunt pending till Monday

April 18, 2018
9:10 pm
AltaRed
BC Interior
Member
Members
Forum Posts: 2884
Member Since:
October 27, 2013
sp_UserOfflineSmall Offline
Go to Top
2sp_Permalink sp_Print

Is that not the case for all financial institutions? I've never seen a Bill Pay, or even a pre-authorized debit done on a non-business day from any FI I deal with.

April 19, 2018
4:03 am
file
Member
Members
Forum Posts: 120
Member Since:
August 1, 2015
sp_UserOfflineSmall Offline
Go to Top
3sp_Permalink sp_Print

Money only moves on business days externally, and even then only a few times a day. It's batched (both bill payments and EFT). Institutions write an instruction about moving money from somewhere to somewhere else. It gets transferred. The other institution reads in the instructions and then reflects them on their side. This happens a few times a day and when it is all done depends on when your instruction is written in.

A financial institution may allow you to "pay" a bill on a weekend but nothing will actually happen until the next business day externally.

Payments Canada is looking to improve it to be faster but I don't believe that includes weekends, just faster (and eventually realtime) during business days.

April 19, 2018
4:34 am
Top It Up
Member
Members (temp break)
Forum Posts: 1363
Member Since:
December 17, 2016
sp_UserOfflineSmall Offline
Go to Top
4sp_EditHistory sp_Permalink sp_Print

Use your debit card on a weekend day, and your account will show the transaction as "booked" on the following Monday; at least, that's what my bank shows.

No permission to create posts
sp_Feed All RSS
Go to top

Please write your comments in the forum.