I pay for my monthly satellite TV subscription with a bank transfer and for some obscure reason I forgot to pay it this month. I was still watching the World cup Cricket tournament, when a message popped up, saying that my account was in the arrears and they blocked my viewing.
I immediately logged into my internet Banking and checked my payment history and realized that I skipped that payment for some reason, so I made the payment and thought I would wait for a hour or two and then resume viewing. Noooot!
8 HOURS passed, I phoned the company and they informed me that the payment is not reflected on their system yet, so I waited another 4 hours and phoned them again.
A whole 21 hours later the payment went through and I could continue viewing, but the match I wanted to see was finished.
If I paid with Bitcoin, this same payment would have taken less than 20 minutes at most, but unfortunately this Satelite provider does not accept Bitcoin payment for this service.
I immediately logged into my internet Banking and checked my payment history and realized that I skipped that payment for some reason, so I made the payment and thought I would wait for a hour or two and then resume viewing. Noooot!
8 HOURS passed, I phoned the company and they informed me that the payment is not reflected on their system yet, so I waited another 4 hours and phoned them again.
A whole 21 hours later the payment went through and I could continue viewing, but the match I wanted to see was finished.
If I paid with Bitcoin, this same payment would have taken less than 20 minutes at most, but unfortunately this Satelite provider does not accept Bitcoin payment for this service.
I dont know if the banks on my country is the same as others but i will state how banks and time work.
Deposit
*If its cash, its usually a minute right after the money was deposited to a teller or entered into machine.
*If its check, it will depend on either clearing time usually 2pm, branch where it come from and other banks. I will say its safe to say it will process within 1 to 3 days.
Bills payment
So if you are referring to bills like what your story told, its the same here which has a minimum of a day to reflect. Some merchants have even more process time which extends upto 3 to 7 days also depends on the mode of payment which can be cash or credit card.