Bank of America ( possibly other banks ) use antiquated timeframes for transactions to clear my checking account when using my debit card and/or routing number with bank checking account number as an electronic funds transfer/transaction forcing me to wait XXXX hours or as many as XXXX hours to show online and deducted from my available balance. This causes me to waste my own personal time, which is money, and my ability to enjoy my life, pay for items I need such as food, transportation and clothing. Think about it, before I can conduct a transaction the cashier or online website must contact the bank to verify I have the funds to complete a transaction in seconds. However Bank of America does n't have to show it online in my bank account for 1, 2, 3 or more days, possibly 5 business days ... how is this even legal in the digital age? If I am using an old fashioned method like a paper check maybe, but even then the casher runs my check through an electronic machine to verify I have the funds ... then why are n't banks like Bank of American required to show the amount verified and reduce that from my available balance immediately? We consumers need this and in this digital age we all know it is possible. For example, when I pay my XXXX cell phone bill it clears my Bank of America account almost immediately ( less than XXXX minutes online with my checking account ). Why do n't all my electronic transactions clear like this, there is no reason other than Bank of American holding out as long as possible to post the transaction to earn interest on millions of account holders or worse to cause us to forget we made that transaction so we have to go into overdraft and pay {$35.00} in overdraft fees, or even worse still up to {$100.00} in fees if there are insufficient funds and both Bank of America and the vendor I was trying to make a purchase charge me $ XXXX {$35.00} insufficient funds charges and still do not pay for the transaction! I need someone like the CFPB to make sure Bank of America makes all electronic transactions " electronic '' and in " real time '' like my XXXX online payments to clear and post within XXXX minutes not 1-3 days. This is costing me time and money, it is wrong in todays world. If my account can be verified for available funds in seconds then when that same transaction is completed that must appear as reduced from my account at that moment not 3-5 business days later. 
