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What is the timeframe for payments being processed electronically?

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What is the timeframe for payments being processed electronically?

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10

A transaction is recorded as paid at the time you submit the payment on our web site. Allow 1-5 business days for a payment to be deducted from your bank account. For example, if a tax bill is due July 31st and you pay online by EFT on July 31st at 11:55 p.m., the payment is recorded as having been made on the 31st, even though the actual funds transfer may not take place for 1-5 days. (If inaccurate bank account information is provided under these circumstance however, a late fee could be applied by the City.) Online payments are not processed on New Year’s Day, Martin Luther King Jr. Day, President’s Day, Memorial Day, Independence Day, Labor day, Columbus day, Veterans Day, Thanksgiving, Christmas, or any other day of closure for the Federal Reserve banking system.

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