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Processing order is the order in which transactions are credited or debited to your account each day. It determines what posts first and last each day and the order that you’ll see transactions on your statement.
Posting order and processing order mean the same thing—they both refer to the way we apply transactions to your account.
Credits increase your account balance. They include things like check and cash deposits, direct deposits, and account credits, like when you return an item to a store.
Debits decrease your account balance. Debits include things like ATM withdrawals, debit card purchases, online bill pay, checks you write, and fees.
ACH stands for Automated Clearing House. These transactions happen when you have authorized a vendor to pull money from your account instead of paying with a debit card or check. An example of an ACH transaction is having your gym membership or mortgage automatically paid each month from your account.
Credits, like check or cash deposits which increase your balance, generally post to your account before everything else. Debits, like ATM withdrawals and debit card transactions which decrease your balance, will be divided up into categories of similar types of transactions—and we’ll be using the date and time of your transactions when we have them. View our full processing order.
Technology and the way people bank have changed. In the past, customers wrote checks or used cash to make purchases. Higher dollar amounts were generally viewed as more important. Today we use checks and cash, but also debit cards, online banking, mobile banking, and ATMs. So it makes sense to organize your transactions according to how and when you spend your money first, then by dollar amount.
In short, debit card transactions will post to your account before checks, so your multiple small transactions will be deducted before larger checks. Because the processing order determines the order in which money is taken out of your account, it can have an impact on overdraft or insufficient funds fees. Learn more about overdraft.
The new processing order will go into effect February 22, 2013.
Checking, savings, and money market accounts for Capital One Bank, Capital One Bank online-only accounts, personal, Small Business, and Commercial accounts. This will not impact ING Direct accounts, CD or IRA accounts.
Your transactions will appear on your statement according to the processing order—so the order they are processed is the order you’ll see them on your statement.
Yes. The change will happen on February 22, 2013, so depending on when your statement cycle ends, you may see both posting orders on one statement.
We process by date and time when we have that information. For example, when you get cash from an ATM, we know exactly when you took out the money. For some types of transactions, like hand-written checks, we won’t know the exact date and time that you wrote the check.
Visit our Credits and Debits overview page to see examples of how credits and debits were processed to Jennifer’s account and to Pat’s Print Shop’s account.
No, the new processing order will not change the timing of your funds availability. To learn more about funds availability, review the "Deposit Availability" information within your Rules Governing Deposit Account agreement.