Sunday, September 11, 2011

Citibank does transactions in future

I just paid my Citibank credit card bill online using my Citibank savings account. The bill was due tomorrow, and so was the standing instruction on my savings account to transfer the minimum due amount. I checked my account after paying the rest of the bill (total minus the minimum due), and noticed that
  1. both the payments are debited today, my savings account balance has depleted by the amounts, and
  2. both the transactions show tomorrow as the dates of transactions.


Does this earn Citibank the title of a Futuristic Bank?
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6 comments:

  1. KTSeptember 11, 2011 at 6:44 PM

    Some citibank employee was facebooking while coding this part of module I guess

    ReplyDelete
  2. AshutoshSeptember 12, 2011 at 3:44 PM

    This is the first time I saw such an issue. I guess this is more than a simple bug. Citi might have a tough time finding the root cause.

    ReplyDelete
  3. Amiya ShrivastavaOctober 1, 2011 at 7:01 AM

    That's because 12th September is a Monday...and banks don't work on Sundays...

    ReplyDelete
  4. AshutoshOctober 1, 2011 at 5:03 PM

    Well yes, but then the bank should wait till Monday to show that transaction on my net banking transaction history, shouldn't it?

    ReplyDelete
  5. Amiya ShrivastavaOctober 1, 2011 at 8:56 PM

    Is it a pending transaction? Read about ACH...I am not sure if it is ACH...but ACH works in that mode...debits first and then credits later....Debiting activity is not actual though...

    ReplyDelete
  6. AshutoshOctober 4, 2011 at 12:45 PM

    No, this was an EFT, and not a pending transaction. Pending transactions do not show up in the account statement till they are actually executed. EFT also debits first and credits to the receiving account later, however, the debiting activity is actual.

    ReplyDelete

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