Author Topic: Floating payment  (Read 989 times)

Offline aj26

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Floating payment
« on: February 19, 2013, 04:34:16 PM »
I made a phone payment for someone else's citi card using my bank account routing and acnt number. The payment posted, but apparently, there is a "float." I was told "There is a "payment float" on it which means we will post the payment to your account but the credit isn't released until we very with the bank that the payment is coming from."
Are they going to verify teh bank account name matches the credit card it came from? That would be such a pain

Offline outsider

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Re: Floating payment
« Reply #1 on: February 19, 2013, 05:10:20 PM »
I made a phone payment for someone else's citi card using my bank account routing and acnt number. The payment posted, but apparently, there is a "float." I was told "There is a "payment float" on it which means we will post the payment to your account but the credit isn't released until we very with the bank that the payment is coming from."
Are they going to verify teh bank account name matches the credit card it came from? That would be such a pain
usually there is a 7-14 businesses day hold time on new payment accounts. I have paid my citi almost always from a account with a different name
It's what is on the outside that matters

Offline Ez

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Re: Floating payment
« Reply #2 on: February 19, 2013, 11:45:26 PM »
Call them and ask for the hold to be released, they'll call the bank to verify the funds cleared the bank, (you'll need the account holder on the line) and don't be affraid to say the bank acct is not yours, they don't care who paid it.

Offline MEIR613

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Re: Floating payment
« Reply #3 on: February 19, 2013, 11:52:59 PM »
It doesn't make a difference if the names don't match.


Offline Ez

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Re: Floating payment
« Reply #4 on: February 20, 2013, 12:04:57 AM »
The reason for the "Float" happening is not due to the name mismatch, they'll almost always say it's because you made a large payment (even if it's not that large)