Bloomfield State Bank Real-Time FAQs
What is Real-Time?
Bloomfield State Bank
recently enhanced our systems to better serve your banking needs. One of the
new features is the ability to post transactions to your account’s available
balance immediately. This is what we call real-time.
Real-Time can be defined as
any transaction the bank receives taking effect on your accounts available
balance within seconds. Your available balance equals the current balance from
previous business day processing plus all your upcoming transactions. Upcoming
transactions are considered to be any transaction that will post to your account
within the next two business processing days (available balance = current
balance + upcoming transactions). This includes transactions that are
debit/point of sale (POS), ATM, e-banking, telephone banking (EVE), automated
clearing house (ACH), and checks or deposits that are posted to your account.
that may cause Real-Time to be slow or delayed:
Debit Card Transactions:
If a merchant does not settle your debit transaction, meaning the merchant or
the business, telephone or website you made your transaction at processes your
transaction offline or does not send their deposit to their bank immediately it
will delay the real-time until they do so. These transactions will show as a
Pre-Authorization and will be replaced by a posting transaction once settled.
If a merchant does not settle their account promptly, the pre-authorization will
hold on your account until they do so. An example of a pre-authorization is
paying for gas at the pump with your debit card. Before you pump the gas the
machine on the pump is programmed to pre-authorize a certain amount of money to
ensure the merchant will receive their money. Once you finish pumping gas, the
gas pump will reverse the pre-authorization and charge your debit card for the
actual amount. Occasionally the gas pumps are offline or only settle their
merchant account once a day or every few days. This delays the real-time
transaction to your accounts available balance until they do so.
Instances where merchants do not settle the transaction with the same Batch or
Sequence number used to create the pre-authorization will end up causing the
pre-authorizations to remain on your account. In cases such as this, the
pre-authorization will be purged from your account by us immediately upon
processing the actual transaction. However this is done at the end of business
day processing and on occasions you will have both the pre-authorization and the
actual transaction reflecting your available balance. If you see this happen
and would like it removed earlier than processing deadlines, please contact us.
If you use an ATM, your transaction should reflect your available balance within
seconds and will then process and post to your account in during the business
day in which it was received.
If you deposit funds to your account via ATM, these funds will not reflect your
accounts Available Balance until processed on the business day processing in
which it was deposited. This occurs in the evenings of business days.
(Automated Clearing House):
Delayed Effective Date Specified:
ACH transactions such as direct deposits, electronic transactions (Debits
or Credits), or checks converted to electronic ACH items will reflect your
available balance immediately after we receive them. They will then process and
post to your account in during the business day in which it was received. ACH
files are processed Monday thru Friday.
Effective Date Specified (ACH Warehouse Items):
The exception to this rule would be transactions we receive early on your
behalf, called ACH warehouse transactions. These are transactions where the
company sending them to us instructs us not to make the transaction effective
until a specified date. We must honor this request, so we store the transaction
until the specified date is reached and post to your account. We cannot release
these funds to your available balance early. We will release and post them to
your current balance during the daily processing in which the effective date is
specified. Most direct deposits (such as payroll) are done this way.
Checks & Deposits:
deposited/cashed at our branches:
Any check you cash or deposit at a Bloomfield State Bank branch will
reflect your available within seconds. These items will then process and post to
your account during the business day in which they were received.
deposited/cashed at other banks & merchants:
If you cash a check or make
a deposit at another bank or write a check to a merchant, we will process the
item and post it to your account’s available balance on the business day in
which we receive it. This is limited by the person/business cashing the
check/deposit, the Federal Reserve delivering the check to us, and the amount of
time we need to process the checks to our system. Checks we receive from
another financial institution are processed in the evening, so these will not
affect your available balance until later in the evening.
E-Services (E-banking and Telephone Banking):
These transactions will
affect your available balance immediately. These items will then process and
post to your account in during the business day in which it was received.
These transactions will process as an ACH or a check depending upon the
payee and apply to the rules above.
Delays from Telecommunications channels can delay the posting of
real-time transactions. We have several alternate methods of communications
setup, however they are designed to work as a fail over and in certain cases do
not provide real-time. An example of this would be fiber optic line outage.
Our communications systems ride several fiber optic lines throughout the United
States. Our network is redundant; however in some cases specific areas cannot
be setup to have real-time redundancy. So we store these types of transactions
in an offline environment and post to your account real-time balance as soon as
Software & Hardware Maintenance:
Again, we have several redundant systems setup to keep our software
working 100% of the time. However, there are cases in which we cannot deliver
the data to you that are beyond our control. We rely on several third party
companies to provide channels of communication, software maintenance and
hardware monitoring. There will however be time were we need dedicated systems
for processing, updates, and maintenance. These types of scenarios will be
brief and few in between, however will cause brief periods of delay in
processing real-time information.
For lost or stolen ATM/Debit cards
For Lost or Stolen Élan (credit) cards 1-800-558-3424