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Paying the bills requires good timing for deposits to come in — and payments to go out. The amount of time for a payment to post to your account varies by the financial institution.
Discover Bank is mainly an online financial institution that offers many financial services such as checking accounts, savings accounts, and money market accounts. However the first and original location of the Greenwood Trust Company on 502 East Market Street is still operating and is the only physical banking location of Discover Bank.
Real-time posting systems may still need to support batch processing. Batch processing is attractive for some processing as it is a cost-effective means to process large groups of items. Examples of those batches would be check (cheque) clearing files or payment exchange files.
The private company that processes many bank-to-bank electronic transfers said a 'processing error' last week led to payment delays on roughly 850,000 transactions.
While payment processing at financial institutions has become faster over the years — and some large players already are part of a “real-time payment” network — many people still may have ...
A standing order (or a standing instruction) is an instruction a bank account holder ("the payer") gives to their bank to pay a set amount at regular intervals to another's ("the payee's") account. The instruction is sometimes known as a banker's order. They are typically used to pay rent, mortgage or any other fixed regular payments.
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