Ask Terry Questions Association monthly payment always posted late

Association monthly payment always posted late

By Terry Savage on September 26, 2023 | Wild Card

My payment is due on first of month. I always pay 2 weeks early. The association does not apply the payment until 4 to 7 days after the first, sometimes 2 weeks late. Is that okay or legal?
There is never any bank mark on the back of the check.

Terry Says

Don’t pay two weeks early! You’re messing up their bookkeeping!
Are you paying by automatic draft from your checking account every month? If so, tell the bank your payment should arrive on the 1st of the month!
If your checking account pays interest, you’ll earn money on that amount until it is sent out.



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