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We're not talking a few dollars here, we're talking a few grand. Making a large e-check payment to a company, they sent me an email saying "We got your payment" and all online metrics show that they did (lower balance, last pay date, etc) while the bank doesn't show the withdrawal (not even a "pending transaction").

I don't suppose maybe someone screwed up and I got a "free" 8 grand payment applied to my account??? Because that would be very sweet.

We're not talking a few dollars here, we're talking a few grand. Making a large e-check payment to a company, they sent me an email saying "We got your payment" and all online metrics show that they did (lower balance, last pay date, etc) while the bank doesn't show the withdrawal (not even a "pending transaction"). I don't suppose maybe someone screwed up and I got a "free" 8 grand payment applied to my account??? Because that would be very sweet.

4 comments

[–] IsThisUsernameTaken 2 points (+2|-0) Edited

I just experienced a similar situation at work recently.

It takes about 5-10 business days to reflect in your bank account. wanted to get this out of the way

What happened (in my situation) is that because it was a large payment, the bank placed a temporary hold to confirm/cross reference account details with the payee. If your name did not match up, they would cancel the payment and the funds remain in your account.

after 5-10 b days, youd either have the payment reflect in your bank account, or a return fee from the 'payee'.

Ive also had it happen with a student loan payment. a friends' parent made payments on their behalf, but they were rejected due to not being the ACTUAL "student", nor was it authorized from the student's bank account.

I hope that cleared up your concern. If necessary, I can speak with an accountant on your behalf and ask for you.

Please advise, Id like to help :)

[–] ScorpioGlitch 1 points (+1|-0) Edited

Yhanks.

I'm familiar with it especially since it always places a hold on the account. Except this time there's no hold! I can't help but wonder if it actually went through as a check and they maybe jumped the gun and said "You're good" since they do automatic drafts every month anyway and might be able to see the balance.

Plus it's been almost a week since I made the payment.

That happened with me when i first opened an account and deposited cheques. I assume its to build up a trust with you.

If youre really anxious about it, just phone up your bank. I memorized the processing times for all my bank accounts.