Why Do Banks Take Debits Before Credits???

masonic

molerat wrote: »

Earlier this week I transferred some money from my A&L savings account to my current and immediately out to another bank. It still shows in the order it happened, credit first and debit last. :eek:

There is a reason for that. Internal transfers between linked A&L accounts are listed before any of the external stuff done during the day (external transfers you set up during the day are actually processed overnight for the following day and then backdated). If you did those transactions in the opposite order (presuming you could!) they should still be listed credit first. Pairs of internal or external transfers made during the day are always listed debit first however.