What
is Bank Transaction Posting?
Bank Transaction Posting
is the process of recording the credit and payment transactions received for
your account. This is not like temporary holds that can be placed on your
account for certain pending transactions that have not yet been submitted for actual
payment. For example, a transaction may be made to your account, a hold or
temporary credit on your account is placed in the case of a deposit. As a
result, you may see a temporary hold or credit on your account that has not yet
been posted. These pending debits and credits might be posted to your account
on that business day for real, or in future, depending on the nature of the
transaction.
What is important to
know about posting order?
The order in which
transactions are posted and paid from your account is important if there is not
enough money in your account to pay all of the transactions that are received
for payment. The order can affect the number of transactions that overdraw your
account or that are returned unpaid, as well as the amount of fees you may have
to pay.
How are transactions
posted to your account?
Transactions can be
posted to your account in two different ways: in “real time” or in “batch” at
the end of the day.
Posting in Real Time
Certain transactions are
posted to your account in real time, during the business day as they are made.
These include:
·
Transfers between accounts and payments to loans made
through Online Banking or through one of our Telephone Banking Service
Representatives
·
Certain reversal transactions (e.g., certain reversals of a
prior credit or debit posted to your account)
Posting in Batch
Other transactions can
be posted to your account in a batch process at the end of each business day.
The order used for posting these transactions in batch each night is described
below.
1. The
batch posting of transactions to your account begins by posting credits (other
than interest, which is credited at the end of batch), as well as reversals and
adjustments for transactions from prior business days that have not already
posted in real time.
2. Next,
debit items are posted received for payment from your account on a given
business day. These are posted in a particular order within groups and applied
a unique methodology based on the type of debit item.