Thread

Online Banking Concerns

· General · 4 posts · Jun 30, 2004 View original thread ↗

#1 Wed, 30 Jun 2004 - 16:09

I am a customer of Peoples Heritage Bank (a Banknorth company in Maine), and I have noticed that while my balances are always up to the minute, my transaction history is often as much as 24-48 hours behind. This means that my "virtual checkbook" often does not balance, and I find this quite alarming.

The policy stated on their website reads: "Transactions shown are as of end of day processing, however, balances may include activity that occurred after end of day processing."

Is this normal in the industry? If it is, it shouldn't be. Are there any online banks that show transactions in real time (or at least with only a few minutes' delay)? Should I complain to the FTC?

#2 Wed, 30 Jun 2004 - 16:20

Same with my bank. Balance is up to date but I may not see a transaction for a day or two.

#3 Wed, 30 Jun 2004 - 16:44

I don't think it should be required, but BofA's online banking seems to show transactions within an hour. I haven't noticed if it takes longer for after-hours transactions though.

#4 Wed, 30 Jun 2004 - 21:35

Quote:

Originally posted by xi_hyperon:

Same with my bank. Balance is up to date but I may not see a transaction for a day or two.

Don't you think there's something wrong with that?!