Hey just curious

I always thought that banks reset s*** / whatever they do at about midnight ?

Seems like its 1.30am (Unavailable at the moment)

Anyone got some more insight ?

This is the error message that is displayed

http://www.josh.net.au/images/albums/userpics/10001/bank.JPG

I'm assuming it is while things are calculated and boxes are reset or something, but I am curious as to why its at 0130

Today I encountered a minor inconvenience and posted a thread about it.

Instead of just waiting it out or even checking if it did it tomorrow and that it wasn't just a minor hiccup.

Yep. Thread thread thread.

Makin' a thread.

Hey just curious

Read the post you f***wit

Hay

hay







HEY!

Don't call me a f***wit.

brb making a thread about it

This thread.. And hashys subsequent thread about this thread fail to deliever....

you fail to deliver

http://upload.wikimedia.org/wikipedia/en/6/64/Rainier.jpg
Maybe you all fail to deliver.

jmr...
i do believe its called a the banks rolling over. it happens anywhere from 12 - 5am. times vary because some people used to abuse the rollover by withdrawaling their maximum daily limit $800-1000 and putting their accounts into the negatives. but i think they've fixed that loop hole. The rollover of the banks happens during the day also.

i do believe the rollover is what u have witnessed.

Ah awesome, thanks

times vary because some people used to abuse the rollover by withdrawaling their maximum daily limit $800-1000 and putting their accounts into the negatives.

I'm sure I'm just missing something very small, but this doesn't make sense to me.

orly?

Its called End Of Day processing.

The delay depends on the institution and the systems they are using, yes Dorothy the bank don't run homogeneous systems. In fact the 2 banks I have worked for run different systems for Personal Banking, Bussiness Banking and Credit Card systems, then there is usually a hodge podge system to try to intergrate all the systems.

So during the EOD all these systems need to interact balances and payments etc etc and like everything banking not all banks are equate, and never do it at an common standard time!

These occur between 7pm (9pm on Thursdays) - 1am and down time ranges for 1-4 hrs.

However with todays 24/7 requirement to view and get money, they usually have interim systems for EFTPOS/ATM and even Internet Banking that will allow basic transactions like pay this and give me money, these transactions are based on a stored balance held before EOD.

Interesting to note, that EFTPOS/ATM has a base floor limit when the networks go down, usually 100-200 which some people use to overdraw their accounts, then they rant and rave how its the banks fault for letting them.

I could go on but it would take forever because banking isn't as simple as some believe, most banks have 1000's of products all different, and interact with 1000's of gateways (well lots) making the timing of this action near impossible.

Now some smart arse will say they need to modify this and do that, but most banks take this seriously and as fast as changes can be implemented new requirement arrises, especially with most banks gettig involved with Insurance and Financial Services like Super and Investments.

End Of Day

LOL Cue Arnie mofies

PS useful info as always Gumby :)

Interesting to note, that EFTPOS/ATM has a base floor limit when the networks go down, usually 100-200 which some people use to overdraw their accounts, then they rant and rave how its the banks fault for letting them.

Thanks for the info Gumby, but I still don't quite understand this part here. What exactly is a "base floor limit"? I'm sure it's probably as the name states, but how do ppl end up with extra money (and then end up in arrears)?

Agent 99 it's simple. Basically the network goes down, ATM can't contact your bank to verify the balance. ATM has a limit if you're withdrawing 100/200 bux then it'll let you even if it can't verify if you have the enough funds. You're happy cause you just got a "free" $100 - or so you think.

Then when the network comes backup ATM exchanges the transaction with the bank, and boom it's discover that you shouldn't been able to withdraw that $100 in the 1st place as you don't havce enough money. Hence the overdrawn account.