Banking Questiongreenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
We were playing the "what if" game this morning and to make a long story short...Most financial institutions state that after a certain time eg. 1300 or 1400 that all transactions will posted to the next day. Is this automatic? And what time/date stamp do they use? Is it possible that some/all/none Banks/FCUs could rollover into CY2000 in the middle of the day on 31 Dec 99?
-- c4i (firstname.lastname@example.org), October 26, 1999
I don't know and it's a good question. But, surely you guys have better resources to answer that question than internet message board users do...
-- (RUOK@yesiam.com), October 26, 1999.
Hi c4i, welcome back to TB2K think tank. Ppl have been asking bout youz.
We have heard from Banking Officials that they plan to run [final] back-ups of everything starting at Noon on December 31, 1999.
If you want to eMail us, we have some more info, can't post to public BB.
-- Ashton & Leska in Cascadia (email@example.com), October 26, 1999.
We are not expecting total candor from our financial sources, nor will they know the figures for the whole system. However, some anonymous bank employees may be able to confirm or deny the information we are already gathering with regard to the original question.
-- c4i (firstname.lastname@example.org), October 26, 1999.
To make a long story short, no. When they say that the posting will be done on the next business day, it means that the truck has already left the building. No more checks will be going to the processing center after that specified time. It will go on the next truck and you guessed it, it will be at about 1400(2 pm) the next day unless if that day is Saturday. If the next day is Saturday, it will go out at 2 pm on Monday.
Also this applies to teller work, not ATM. You can not take out your daily ATM limit before 2 pm and take out the next day's ATM limit after 2 pm. You will have to wait until 1201 AM on the next day. On a happy note, you could take it out at 11:57 pm and 12:02AM
-- Ned P Zimmer (email@example.com), October 26, 1999.
I think the photo lab at WalMart is going to have this problem too. You know - film dropped off by 10:00 today will be ready by 2:00 yesterday. :)
-- a (firstname.lastname@example.org), October 26, 1999.