ELi5: Why do credit card and some bill payments take 1-3+ days to be taken from my account, and how is that allowed? Due Date ≠ Date Due?

Question

ELi5: Why do credit card and some bill payments take 1-3+ days to be taken from my account, and how is that allowed? Due Date ≠ Date Due?

In: 3

Answer 1

Sometimes things take time to process.

A company can see that the process was started before the due date meaning that you paid it before you were late.

It’s allowed because it’s not really avoidable.

That bank is handling millions of transactions per day and paying your bill is only one of them so it just has to wait its turn.