FNB to FNB EFT

[daveob]

yep. sorry.

[Perform Computers]

It's ok. I'm just extremely irritated with this whole thing. Apologies from my side too daveob ( Sorry I don't do emoticons )

[Dave A]

Well I LOL'd at daveob's crack anyway. I guess you need to have read the spam scam thread to appreciate the joke.

I went to the bank & the Manager told me that after 7pm it only reflects the following day. Which I think is BS.

The problem is that deposits made after 7.00pm are dated for the following business day. It's also the same in any other transaction. If you make a payment out of the account after 7.00pm it is dated the following day too.

I hear you that it's BS, and I suspect most of us agree it is when they bounce a payment when there is clearly sufficient funds to cover by the time the decision is made. It would make far more sense if they smacked you with an overlimit charge. Bouncing the payment is just adding insult to injury - (and some extra banks fees I suspect).

On the flip side, when you look at this from the point of view of when the transaction was initiated, then it makes sense why it happens the way it does though. In fact from that angle it's handy that they tend to give you the grace of depositing on the same business day, even if you initiate the deposit later than when the debit order was intiated.

Swings and roundabouts. But it certainly helps when you know how they play the game.

[Perform Computers]

Thx Dave A

Your post makes perfect sense.

FNB 1 Andrew 0

[Perform Computers]

Just to let everyone know, the cutoff time for an eft from fnb to fnb is 8pm. The bank called me & confirmed it. After 8pm, it'll reflect in the recipients bank account the following day. ( Don't know how weekends work though ).

[Justloadit]

Just to let everyone know, the cutoff time for an EFT from fnb to fnb is 8pm. The bank called me & confirmed it. After 8pm, it'll reflect in the recipients bank account the following day. ( Don't know how weekends work though ).

From my experience, it is shown immediately that there is an amount to receive, however access to the funds is only available towards the end of the next day. Also from my experience, during weekends the money is available right away up to late evening on Saturday, which I now take it as 20H00 and on Sundays between 07H00 and 20H00 the money is available immediately.

I do not know if you know of a new service from FNB, many ATM's can now accept cash deposits 24/7. I know as in my business I get vendors depositing at all hours in these ATMs. It's great for me as I have an automated system which identifies the deposits and immediately makes the services available to the vendors. It has improved my business as vendors never have sufficient cash to carry them over weekends and public holidays.

[BusFact]

Swings and roundabouts. But it certainly helps when you know how they play the game.

Exactly. Its not personal, there are just some strange rules we need to figure out over time. Once you understand most of them, its easier to put up with some of their nonsense.