Banking batch transaction queue question

[Piettt]

Hi,

I'm just wondering how banks handle batch processing.

Here's a scenario:

- I don't have enough funds for my debit orders to go through.
- Someone transfers enough money to my account for the debit orders from another bank which usually clears the next day (same day as debit orders.)
- When the batch system runs, the debit order transactions are first in the queue and the credit transaction is last in the queue.
- When the system gets to the debit transactions, the credit transaction has not run yet and the debits do not go through because of insufficient funds.

I'm sure that the batch systems are more intelligent than what I described above and that it will look at all the transactions before executing them.

Does anyone have knowledge of how this actually works?

Thanks.

 

[ToxicBunny]

Hi,

I'm just wondering how banks handle batch processing.

Here's a scenario:

- I don't have enough funds for my debit orders to go through.
- Someone transfers enough money to my account for the debit orders from another bank which usually clears the next day (same day as debit orders.)
- When the batch system runs, the debit order transactions are first in the queue and the credit transaction is last in the queue.
- When the system gets to the debit transactions, the credit transaction has not run yet and the debits do not go through because of insufficient funds.

I'm sure that the batch systems are more intelligent than what I described above and that it will look at all the transactions before executing them.

Does anyone have knowledge of how this actually works?

Thanks.

It will depend on the bank, and how they've prioritised stuff, what order they get things from BankServ etc etc etc...
.
But you should make sure that you have enough money in your account on the day the debits run, its your responsibility to make sure that happens.

 

[Piettt]

It will depend on the bank, and how they've prioritised stuff, what order they get things from BankServ etc etc etc...
.
But you should make sure that you have enough money in your account on the day the debits run, its your responsibility to make sure that happens.

Thanks.

My advise is not to share a home loan with anyone else or if you do, make sure the debit goes off their account.