How long for payment to clear bank?

[StrollPatrolMom]

Same exact situation....made the payment the 20th, it took an immediate hold for the funds which has since gone away...showing as cleared on Disney's site...and the money is still sitting in the bank...my friends said it took a LONG time for them to process hers last time...I'm not worried since it shows as paid by Disney....I'll give it some more time...maybe a lot of people paid their trips the 20th and they are backlogged in batching the payments or something. I saw their stock took a hit today, they'll probably take the money tonight

 

[Tine731]

Mine is still not showing up.

Disney is having "issues".
Good luck and pixie dust.

 

[jenga1030]

Well, still nothing clearing through my bank so I called Disney today and spoke with a CM. She said I am showing paid in full with my Visa payment posting July 20.

Part of me thinks that would be some major Pixie Dusting if my (almost, except for $200 deposit) entire trip was free! Of course, had I known that would happen, I would have booked the Grand Floridian, not the All Stars.

Seriously, I just want this trip paid off officially! Anyone else still waiting?

 

[LittleFlounder]

Finally, my payment is showing up on my American Express. I paid my $200 deposit last friday (July 20) and I've been checking my account online daily.. finally I have been charged for the $200... oddly, its dated "July 20", even though today is the 27th. I got my Amex bill in the mail today and my flight I paid for July 20th is on it, but NO Disney. Oh well.

Yeah, it would have been so nice if something happened and I was never charged that $200 deposit! yayyy pixie dust!

 

[DarthKTrava]

jenga: Tried contacting your bank to see what's going on? Sounds like it's the bank that's holding things up....

 

[LisaNJ25]

Well, still nothing clearing through my bank so I called Disney today and spoke with a CM. She said I am showing paid in full with my Visa payment posting July 20.

Part of me thinks that would be some major Pixie Dusting if my (almost, except for $200 deposit) entire trip was free! Of course, had I known that would happen, I would have booked the Grand Floridian, not the All Stars.

Seriously, I just want this trip paid off officially! Anyone else still waiting?

yep I am waiting also.

 

[raven69david]

Purchases made with your debit card generally take 2 to 4 business days to post to an account. If the debits don't settle within that time-frame, the hold falls off of the account and the funds are added back to your available balance. The debit will post to your account at a later date when your bank receives the authorization slip from WDTC.

When i make a payment, the authorization is immediately posted on my account and the funds are held from my available balance. Usually on the next business day it will fall off and then appear within 1 to 2 business days as a settled transaction. Every bank is different, but the posting must be submitted within 4 business days, otherwise the banks will remove the hold and add the funds back to your account. This is part of Federal Regulation E.

I'm glad the teethrdh's transaction finally settled. The only way to get that peace of mind is to know and see that the payment has been posted to your account. Have a fun trip.

 

[raven69david]

jenga: Try contacting your bank to see what's going on? Sounds like it's the bank that's holding things up....

A bank simply waits for a debit authorization slip to come in so that they can pay whatever item may present to the account. It doesn't hold on to it for days and then debits the funds from the account. If you call the bank, it's most likely that they will tell you that the authorization came in on any given day, and then simply fell off as it wasn't submitted by the payee within the alotted time-frame to collect on the funds. Sometimes a business will wait to "settle" their terminals at the end of the week or send one large batch report on any given day of the week to collect on signature-based (debit/credit ) payments. Once they do this, it may take up to 4 business days to reach the bank and post to your account.

It's rare that a problem with the authorization slip occurs which may cause the bank to return the item unpaid. This is usually caused by an error committed by the merchant processing the payment. An example of something going wrong could be the merchant enters or mis-keys a number for the expiration or card verification value (cvv, i.e. security code) which in turn would cause the bank to return the item unpaid. The merchant would credit your account, but your bank would not debit the funds as there was a problem with the authorization slip submitted. This would be to your advantage, but when the mistake is discovered, you could be in for a surprise once you check in and they tell you that you're canceled for non-payment. YIKES.

 

[jenga1030]

I checked this morning and it finally cleared my bank. It took a full week which has never happened before, but I'm so glad it is paid for!!! Now I can relax.

 

[StrollPatrolMom]

I checked this morning and it finally cleared my bank. It took a full week which has never happened before, but I'm so glad it is paid for!!! Now I can relax.

Mine cleared as well, although it wasn't my final payment...so I'll be sweating it awhile longer since I made another payment this morning!

 

[kelscross]

My bank does "real time" banking. When I paid a payment yesterday with my bank card it showed up immediately in the pending list. It will officially post on Monday, but it's been taken out of my available funds in the account. Too bad they don't do that with deposits, that takes up to three days to be available. Funny how they will deduct immediately, but take their time giving the deposits..lol

 

[raven69david]

Too bad they don't do that with deposits, that takes up to three days to be available. Funny how they will deduct immediately, but take their time giving the deposits..lol

Easy solution: direct deposit.

The 3 day hold on deposits means the checks your employer is giving you are not local checks and they have to collect on the funds before they can credit your account. This is done by the federal reserve and is not your banks fault. The bank simply waits to receive the funds from the federal reserve and then immediately credits them to you after a specified time in the morning...usually after 7am which is when credits usually post to an account.

Now, if you know someone at the bank, they can remove the hold if you make the deposit inside with a teller or through the drive-thru.