Quote Originally Posted by Mvcrash View Post
OK, someone in his thread sated that paying early is just as bad as paying late. That is how you know banks suck. Just by that mere statement.
I Have NO credit card/ debt. Why? because credit card companies
Banks can only accept money if they know it is coming and what they have to do with it. They are not old western style Scrooge McDuck vaults where the director takes a swim in the cash.

Banks accept millions of transfers every month via automated systems. Those automated systems can only handle money if they know what to do with it. They only know what to do with it if they expect it. They can only expect it if they know in advance when it will come, how much it will be and where it has to go.

Let's make the analogy with a Bakery. The baker needs x amount flour to make bread for a week. He gets weekly deliveries in order to have enough to support his business. The flour supplier can't just say 'hey, I know I am way too early, but here is your flour for the next 2 months'. The baker won't know what to do with that flour either. He can't accept it because he simply doesn't have the space to store it.

With bank payments, the problem is space as well. if money comes in way too early, the automated systems have no idea where the money should go. So they forward the transaction to a human being. This costs money. If thousands of people start doing this, the bank needs to hire extra people, just to process payments from people who fail to live up to the terms of the contract. If those people then also refuse to answer letters and phone calls, the whole thing get more time consuming and costly.