How come nothing ever goes through on like a balance sheet when online banking over the weekend? It always updates on Monday it seems like. What’s that all about?
In: Economics
Processing. It doesn’t happen on the weekends when no ones there to make it happen.
At the end of the day the system starts processing all of the transactions. It sends out the EFTs and posts the balances to accounts and ledgers. So no one is there on Saturday or Sunday to kick off and watch the processing to make sure it goes right. That’s why any transactions that you do on the weekend aren’t posted until after processing on Monday evening.
I used to work in IT for a mid sized community bank. The IBM System I we used technically wasn’t my responsibility but somehow when something was wrong I had to fix it.
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