Issues with paying off CC this weekend?

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Aug 5th, 2019 5:06 pm

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Aug 3rd, 2019 10:25 am

Veeshmack [OP]: Sr. Member; Dec 26, 2015; 515 posts; 304 upvotes; Manitoba

Aug 3rd, 2019 10:25 am

Issues with paying off CC this weekend?

So I get paid on Thursdays, I usually pay off my CC's immediately, and the payments show up on my CC accounts by the Saturday. Not the case this weekend. Not sure if this is normal (its never happened before) and not sure which side of the transaction is going to be at fault. My payment to Scotia Visa Infinite & Tangerine MC worked fine as normal. My payments to my TD Visa Infinite and my PC WE MC did not go through yet.

Anyone else noticing any issues?

5 replies

Aug 3rd, 2019 11:31 am

masterman: Sr. Member; Mar 21, 2019; 746 posts; 728 upvotes

Aug 3rd, 2019 11:31 am

My payment to MBNA is the only payment that has not been posted to the account, out of 5 that I made through PayTM on Aug 1, all made at the exact same time..
Usually MBNA is as quick as AmEx to post payments in my experience, but I’ve noticed lately they take longer than everyone else.
I wouldn’t sweat it, they’ll get the payment.
Delays like this are a good example why you should never leave a payment to the last minute.

+1

Aug 3rd, 2019 10:33 pm

titaniumtux: Deal Guru; May 8, 2009; 14610 posts; 12649 upvotes; Going to the Moon

Aug 3rd, 2019 10:33 pm

masterman wrote: ↑ My payment to MBNA is the only payment that has not been posted to the account, out of 5 that I made through PayTM on Aug 1, all made at the exact same time..
Usually MBNA is as quick as AmEx to post payments in my experience, but I’ve noticed lately they take longer than everyone else.
I wouldn’t sweat it, they’ll get the payment.
Delays like this are a good example why you should never leave a payment to the last minute.

Also a case for using PayTM, and keeping cheesy savings bank accounts at each issuer where you have their CC, wherever possible.

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Aug 4th, 2019 2:58 pm

Alivenate: Deal Addict; May 1, 2018; 1580 posts; 1123 upvotes; Vancouver

Aug 4th, 2019 2:58 pm

Not sure if it's a TD issue (they always have issues seems like) but trying to pay my PCF card via TD is not being accepted. Keeps saying system error.

Aug 4th, 2019 8:29 pm

iamthebest: Deal Addict; May 15, 2013; 1776 posts; 479 upvotes; Montreal

Aug 4th, 2019 8:29 pm

masterman wrote: ↑
Delays like this are a good example why you should never leave a payment to the last minute.

According to my experience, Banks in practice take the date you paid as the day of payment (and not the day they received the money). So, paying the same due date from one Bank to other Bank is not considered a late payment according to, again, my experience.

Aug 5th, 2019 5:06 pm

ROYinTO: Deal Addict; Dec 12, 2009; 4863 posts; 2449 upvotes; Toronto

Aug 5th, 2019 5:06 pm

iamthebest wrote: ↑ According to my experience, Banks in practice take the date you paid as the day of payment (and not the day they received the money). So, paying the same due date from one Bank to other Bank is not considered a late payment according to, again, my experience.

My experience says otherwise.
Even in the same bank (CIBC) payments do not always go through the same day which includes payments made before 6:00 PM Eastern. I've seen them span a long weekend.
Best to pay a few days early. Especially if they up your interest rate for x late payments per time period.
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