[moneydance] Observe Payment Date Restrictions ignored in MD 528

[Larry Alkoff]

Sean Reilly wrote:
> 
> On Jun 22, 2006, at 9:11 PM, Larry Alkoff wrote:
>> Observe Payment Date Restrictions checkbox set in Preferences > Network
>> is not being observed in Moneydance 528
>>
>> Today I started an online payment to Bank of America Credit Card.
>> Although it's June 22, the date in the payment box was June 28.
>>
>> I tried this both with the Observe Payment Date Restrictions box
>> unchecked and checked, carefully exiting MD and restarting Online
>> Banking between.
>>
>> Note that my payment would have been B of A on both ends which should be
>> a same (or nearly so) day transaction.  Seven calendar says (5 working)
>> is a bit much for this type of transaction.
>>
>> Is this just B of A trying to get a few extra interest days or is the
>> Observe Payment Date Restrictions box not working?
>>
>> Larry
> 
> If the Observe Payment Date Restrictions option is selected, Moneydance 
> will calculate the lead time needed for a bill payment (according to 
> information provided by BofA via OFX) and not allow you to submit an 
> earlier payment.  If the option is not selected, Moneydance will let you 
> set any date you like for the payment and send in the payment request 
> exactly as you enter it, which can possibly result in the bank server 
> sending a "date too soon" error response (although some banks will just 
> treat that as a send-payment-as-soon-as-possible request).
> 
> I have a BofA account and am a bit frustrated that BofA seems to take 
> the money out of my account on the payment date instead of whenever the 
> payment is actually sent or the check cashed.  I don't know of most 
> banks do this, but I wouldn't be surprised.
> 
> Thanks,
> Sean


Sean (and Kevin)
Thanks for your reply regarding BofA.  I now see I can have the option 
unchecked and change the date to whatever I want.  I suspect BofA is 
diligent in generating error messages.

I've decided to leave the option unchecked so I can change the date at 
need although I'll rarely do that.

My main frustration besides the long delay is that BofA does not return 
the paper check they issue even though the clearing services must return 
the same thing as when I hand write a check.  So if the payee never got 
the payment, I don't know unless they complain.  I'll admit that BofA 
has been cooperative about crediting my account on the three occasions 
that happened.

Some large corporations insist on receiving paper checks and refuse to 
accept EFT payments.  You'd think they would like their money ASAP.

Larry

-- 
Larry Alkoff N2LA - Austin TX
Using Thunderbird on Slackware Linux