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If I want to (for example) pay my credit card bill online after business hours, I usually get some kind of confirmation message saying that the transaction will not go through until the next business day. It seems to me that this kind of transaction does not require any human involvement, so why can it not go through until the next business day?

  • Not so, money transfers go through immediately, atleast in UK. Credit card bills are a different matter. Once I asked the same question to a bank employee and was told it is because of the time taken for the funds to be cleared from the payee bank. – DumbCoder Oct 15 '15 at 14:42
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Generally, unless you're doing a wire transfer, bank transactions are processed in batches overnight. So the credit card company won't be able to confirm your transfer until the next business day (it may take even longer for them to actually receive the money).

  • Why can't the confirm the transfer until the next day? Do they need a person to manually confirm every credit card payment? – Daniel Oct 15 '15 at 16:04
  • No, but they do need to confirm that the transaction was processed. – littleadv Oct 15 '15 at 18:08

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