The banks run seven days a week, automated, so that my evening ATM and Sunday afternoon Debit shopping are instantly recorded.
They subtract money 24/7 and answer the phone and email 24/7.
BUT they worn’t record a deposit or transfer or even a Visa merchandise return until the END of the next BUSINESS day.
Sure, I see they’re just taking advantage of the “float” when it’s in their favor and stiffing me when it should be in my favor.
The question is should they? Is it ethical?
And is this something that will be changed by internet banking, which has already removed a lot of fees and minimums, in order to build market share.