So...i've been banking with Chase for years (I have no idea why!)...Well, ok that is not entirely true. I do know why. Because initially I had my account with Texas Commerce Bank who got bought out by Chase Texas who then became Chase Manhattan and who is now some combination of Chase/Bank One.

I've been using their online bill pay service for years.

Anyway, so I decide to pay off my auto loan (which, incidentally, is also owned by Chase). So I log on to my online bill pay and put in the payment for the final amount. It seems that sometime around the Chase/Bank One merger, they began processing my auto loan installment payments as checks (instead of electronically like they had done previously).

So now, I paid this loan off several days ago, yet it still is not showing as paid on my account.

This irritates me. If they can send an electronic payment from Chase to BofA and have it reach them in a day, why can't Chase send a payment to Chase and have it reach them in a day???

Don't be too harsh on Chase. If you initiated the payment from your checking account, yes, the bank will actually issue out a check instead of doing it electronically. My bank does the same thing and it's not Chase. Hence why if at all possible, I do the reverse and do an electronic payment initiated from the loan or credit card account. If that isn't an option, I rather send in the payment via snail mail. Fortunately, I don't have many bills that have to be done that way.

My bank processes my auto payments electronically and my checking and auto loan are from the same bank.

Yeah, that was my point. Before this merger with BankOne, they used to process it electronically and the payment was posted within a day. I don't know why Chase can never handle their mergers smoothly. Something similar happened when the merger with Texas Commerce and Chase occurred. I had an automatic debit payment get cancelled and it caused me to be late on an account for one month before I caught it.

My credit union does the same thing. But to assume different divisions within the same banking institution are set up to do electronic transfers is making a big assumption. Case in point. Citibank. I have a few accounts with them. But apparently, Citifinancial that handles the credit line I took out when I had my new flooring put in has no relation nor operates teh same as their credit card division which I find extremely frustrating.