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I wonder if some of these banks are perhaps a bit less solvent than they would like to be still. I've noticed that it takes my current bank an outrageously long
by olefoo 17y ago
I wonder if some of these banks are perhaps a bit less solvent than they would like to be still. I've noticed that it takes my current bank an outrageously long time (4 days) to move money between accounts unless someone goes down to the branch and manually signs the transaction. It's annoying to know that the web interface, though convenient and handy will impose a wait state where the money is not in either account for several days; whereas taking 15 minutes to go to the branch will cause the money to move right away.
- democracy 17y agoWhat bank is it?
- olefoo 17y agoChase, formerly WAMU; I rather suspect it may have something to do with the fact that some of the accounts were opened after Chase took over and the destination accounts were with WAMU long before. But of course they aren't going to tell me they can't mesh the two computer systems smoothly.
- rue 17y agoNo experience with Chase's site, but make sure you are indeed making a transfer and not an "online (bill) payment." The bank is also required to provide you with an availability schedule (and, if I recall correctly, inform you when you make the transfer) so make sure you get a Terms & Conditions booklet where this is explained. Transfers between two personal checking accounts should always complete within a business day; savings- and business accounts may be different. They might certainly have some loophole, but they must be able to explain it.
- protomyth 17y agoWell, Chase isn't exactly fast at taking money for a payment either. Car loan payments made on the website from another bank's checking account don't seem to hit for 3 to 4 days.
- quellhorst 17y agoBig banks are bad about doing this. They delay your funds so that they can actually earn interest on your money while you don't have access to it.