<prompt> Human: My credit card payment due date is June 30th, and I transferred money from my savings account to my MasterCard account from the same bank. I paid every last penny owed on time, yet the transfer was held until July 2. So on my records, it shows that I made a transaction on june 30th but paid on July 2. I guess they base the payment date on when it says Posted because now i owe 80 in late fees. What gives?Secondly, when I submit my credit payments the money was deducted from my account immediately! If the money is no longer in my possession, and now in theirs, shouldnt that be considered Paid?  <response>: Banks still rely on nightly batch processing, so while things often look instantaneous, they are not. When you transferred money, they update the online account because they are assuming that everything will be fine once it is processed, and they dont want you thinking you have more money in the account than you really have, so they deduct it from whats available in your account so it can be processed. Thats the date you initiated the transaction. But the money is still there in your account... well, as there as any electronic transaction can be.The posted date is the date the transaction actually occurred. That is when the money actually moved, and the transaction was posted to both accounts. In bookkeeping, you can enter in a bunch of transactions, but until you post them, they dont actually debit or credit the accounts... that is where the word comes from.Your best bet is to call up the credit card company, and politely ask if they can waive the late charges and interest, because you had initiated the transaction before the due date. This a normal thing. Now you know. 