Which bank has the fastest bill payment transactions?

Question

I use Bank of America for online bill payments. But every bill I pay it takes at least 5 days for the bank to forward the money from my checking account of a positive ballance to a utilities company.

I bet a turtle could deliver payments to the utilities in less then 5 days.

Please tell me what is your bank and how long it takes to complete the bill payment from online banking from a checking account.

Thanks all.

Answer 1

Actually it might not be the fault of BofA. What happens is the bank will send payments electronically to the billers that are able to accept electronic payments. The bank mails a check on your behalf to those billers who cannot accept electronic payments, usually the utilities companies. The bank is probably getting the check to the utilities company within a matter of a couple of days, but the utilities company may wait a few days before depositing it and therefore making it take longer to clear your account.

Answer 2

Definitely US Bank. Some of my bills are paid the same day, but most are paid the next day.