Personal Finance

[RBC] Unpostable item paid (transaction name) ???

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  • Feb 15th, 2020 1:42 pm
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[OP]
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May 7, 2007
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[RBC] Unpostable item paid (transaction name) ???

So you go to Tangerine ... and you set up (with 2 micro-deposits) an external link with your RBC Day to Day Savings account (free bank account, where you are allowed one free debit transaction a month ---- any other debit transactions in the same months are $2.00 each).

After you confirm the micro-deposits ... and the link is establish ... you PULL $3.00 from that RBC account to your Tangerine (the debit transaction over at RBC is 1st debit transaction in that account in February ... so it = Free transaction)

In a day or two ... the money arrives to Tangerine no problem ... and posted as a normal credit transaction over at Tangerine's end

So you go to your RBC account ... and see the following transaction there (no fees are showing by the way ... not yet anyhow ... and hopefully won't show at all) :


Feb 12, 2020 - Unpostable item paid - $3.00


WTF is Unpostable item paid ?? ...Will that transaction be free (I HOPE SO).

And why don't they call that transaction normally, for example something like: "Pre-authorized Debit" ... as it's done at all other normal institutions?

P.S.

You Google "RBC Unpostable item paid" ... and some of the results shown there are quite unique ... with some people going to RBC Facebook etc to ask them -- "this transaction showed up in my account ... why?" etc ..
7 replies
[OP]
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May 7, 2007
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Looks like they changed the transaction name now ... (not sure if manually (after I called and wasn't too happy about few things related to this) or if the name changed automatically)).

LOL ... Now the transaction name shows as:


Feb 12, 2020 - Item Paid - $3.00
Sr. Member
Jul 28, 2012
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Montreal
Perhaps it showed up as "(Unpostable) item paid" the first time and the next times, it will show the usual way. From experience, it would be "Inter-FI Fund Tr Dr" or "Investment" (whether it's a withdrawal or a deposit at RBC, respectively).

Important : in case you didn't know, the number of free debits included in your RBC account does not work per calendar month but per statement cycle. The cut-off date is based on the first letters of your last name:
https://www.rbcroyalbank.com/onlinebank ... art2A.html (under "Monthly Fee")
[OP]
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May 7, 2007
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^ ok.. Good to know ...account hasn't been used for over 2 years in any case. It was about to go to dormant state soon and penalized if some transaction wasn't made by March 16th.
[OP]
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We pulled $3 out of there and now pushing $2 back in, just for the hell of it :)
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Jul 28, 2012
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Montreal
Darkman wrote: ^ ok.. Good to know ...account hasn't been used for over 2 years in any case. It was about to go to dormant state soon and penalized if some transaction wasn't made by March 16th.
Ah-ha, that may have been the cause. Perhaps the account was already dormant and someone had to post the Tangerine debit manually, hence the different description.
[OP]
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airodyssey wrote: Ah-ha, that may have been the cause. Perhaps the account was already dormant and someone had to post the Tangerine debit manually, hence the different description.
Nope ... it wasn't dormant ... I called them for info a week ago or so about this ... plus it say in the mail they sent what to do if you don't want account to go dormant or penalized or whatever it was on March 16.

We could have stopped at any ATM machine for example and withdraw $5 ... or deposit some money in ... whatever ... or have any transaction basically ... even for $0.01 ... So Tangerine thingy should have worked with $0.01 instead $3.00 to te resolve the issue in the letter.

AND who knows actually, lol ... maybe nothing was needed to do at all already ... AFTER Tangerine sending in their 2 micro deposits :D
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Jan 27, 2004
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Its an internal transaction lingo...
Simply put... an electronic transaction comes through an account and they don’t know what to do with it. It gets processed as that term “unpostable item paid”. Perhaps as an internal control measure to prevent against fraud and errors. Like you mentioned that happens with dormant accounts.
It was your first pull so maybe thats why it got flagged. But it eventually changes description while it works itself over behind the scenes.

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