Why does it take two days to move money from my bank account to my credit card?I've just payed off my credit card bill but i was wondering why it takes the money straight out of mt bank account but doesn't pay off my credit card for 2 working days. What do HSBC have to do in that time? | |
well im actually 14 and i just signed up for this website...its simple im doing this cause i have nothing to do over the summer try it its easy you dont need to give personal info.
http://cashcrate(dot)com/667958
Hiya !
ALL banks and credit card companies do that !
It's because - In the time period from when the credit card company gets the money from your bank, to them crediting your card account with the payment, they earn interest on it as it's just sat in their OWN bank account.
Doesn't sound like much - but when you multiply it by the hundreds (or thousands) of card holders - you get an idea of how much they're making !
Sadly - that's just another way the credit companies squeeze more cash out of us customers !
Hope this explained it a little ?
It takes Littlewoods catalogue FIVE days to process an Internet payment - even though the money comes out of my bank account immediately !
Pretty much as the first guy said. Your bank has no access to your credit card. You can get it issued through your bank, but they are not responsible for anything done on it. The card companies are. So it has to go through your bank to the card companies. It is basically like a check clearing. Takes 2 to 3 days.
because the funds have to go through the bacs system,
however once all financial institutes will soon be rolling out the faster payments service, so it shall be soon be there within the same workin day.
