|
 |
Home >> Accounts
How Long Before Account is Debited?
How long after paying a bill does the bank have to take the funds out of your account?
|
Untitled
|
 If you pay a bill by check, it takes the check some time to reach your bank. If you use your bank's bill payment service, the bill payment service may charge your account right away and send out its check, or issue a check on your account, in which case that check will have to be mailed, received by the payee, deposited, and work its way back to be paid from your account.
If you pay a bill using your debit card on the company's web site or over the telephone, for instance, it may take a couple of days for the charge to appear on your checking account. That would also be the case if you allow the company (for example, your electric company) to directly charge your checking account. You'd be wise to have funds in your account on the day you pay the bill.
Published on BankingQuestions.com 8/20/08
|
| |
|
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
