At this time of year, it's fairly common practise to go out and buy presents for friends and family. Still, it's hard to keep track of how much you're spending as you go from shop to shop over the weekend. When I go to the cashpoint to check how much I've got left in the bank, it doesn't get updated until Tuesday (well Monday at midnight to be precise) leaving me wondering whether I can afford to buy a particular present or not. Why can't the amount remaining in your account be updated instantly, even over the weekend? And no, I don't have the time to collect the receipts and go through my account of an evening.
2006-12-11 05:09:28 · 8 answers · asked by drcswalker 2 in Business & Finance ➔ Other - Business & Finance
If you can't keep track of what you spend maybe you should draw out cash and pay that way. when you run out of money then you can't buy anymore.
If you don't want to keep a ledger of your spending then get rid of the check book...
Duhhhhhhhhhhhhhhh!
2006-12-11 05:21:36 · answer #1 · answered by Angell 6 · 0⤊ 0⤋
This is a very good question. Data transits in nanoseconds, why 2 days?
The reason is that banks have to have 10% of the money they have loaned out on Friday afternoon. SO if a paycheck is there for that time it counts. If the bank doesn't have that much THEY HAVE TO BORROW it AND PAY INTEREST. They get the money from the fed. Its a good thing cuz if they got it from the unfed it would cause riots.
2006-12-11 05:14:39 · answer #2 · answered by kurticus1024 7 · 0⤊ 0⤋
Every bank is different - however, basically, they are only required to do this every month - most do it as a service to you. Most rely on the dependability and maturity of their bank holders to keep track of their spending by writing it down (in a passbook) or keeping the receipts to be sure where you are each day.
2006-12-11 05:14:57 · answer #3 · answered by Been there 3 · 0⤊ 0⤋
I'm sure there is soem reason, they need to be verified by an outside source, they are double audited, ect...
Really I think its because banks are lazy and spoiled where else is there a business that thrives on being open for so few hours a day.
2006-12-11 05:13:10 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I've never had a problem like this with my bank. What account do you have?
2006-12-11 05:16:39 · answer #5 · answered by Anonymous · 0⤊ 0⤋
it happens at 11:59.59 pm on Monday...the end of the first business day of the week
2006-12-11 05:12:55 · answer #6 · answered by Generator gator 3 · 0⤊ 0⤋
Might be the way the system is designed
2006-12-11 05:11:09 · answer #7 · answered by â¤??? ?å???? 4 · 0⤊ 0⤋
idk
2006-12-11 05:11:26 · answer #8 · answered by Ashley 1 · 0⤊ 1⤋