Anonymous
Post 03/25/2023 09:15     Subject: Bank transfers take too long!!
In every civilized country bank transfers are instantaneous.
Anonymous
Post 03/25/2023 09:12     Subject: Re:Bank transfers take too long!!
Anonymous wrote:
Anonymous wrote:SoFi ACH transfers are fast same-day. Submit transfer at 9am and in an external bank at 1pm. Marcus is fast too - same day.

Ally and Schwab take a day. Unacceptable.


Isn’t Ally a foreign bank? Like Hong Kong based? Could be a time zone/international regulatory thing


No Ally is based in Detroit— it started as the financing arm of General Motors
Anonymous
Post 03/25/2023 07:17     Subject: Re:Bank transfers take too long!!
Anonymous wrote:SoFi ACH transfers are fast same-day. Submit transfer at 9am and in an external bank at 1pm. Marcus is fast too - same day.

Ally and Schwab take a day. Unacceptable.


Isn’t Ally a foreign bank? Like Hong Kong based? Could be a time zone/international regulatory thing
Anonymous
Post 03/25/2023 07:13     Subject: Bank transfers take too long!!
i recently transferred money from Bank of America to Capital One and it took 6 days.
Anonymous
Post 03/24/2023 15:51     Subject: Re:Bank transfers take too long!!
Anonymous wrote:

Those same day transfers are likely just credits to your account provided by the financial institution. It’s likely just a pending transfer that is not yet fully settled. They may even let you play with the pending funds inside their ecosystem (eg use their brokerage to purchase stock) but wouldn’t let you move those funds outside their system.

Most ACH payments take T+1 to settle and some take up to 3 days.


Same Day ACH is settled twice within the day, I think 1pm and at close of business. It costs more so fewer banks (originators or push) use it.
Anonymous
Post 03/24/2023 15:16     Subject: Bank transfers take too long!!
Sounds like you need to manage your money better.
Anonymous
Post 03/24/2023 15:12     Subject: Re:Bank transfers take too long!!
Anonymous wrote:That's a big benefit of digital assets.


Yes, and being able to actually purchase things is a big benefit of fiat currency.
Anonymous
Post 03/24/2023 15:00     Subject: Bank transfers take too long!!
Some banks are terrible with transfers, OP. We changed banks, it was so frustrating.
Anonymous
Post 03/24/2023 14:51     Subject: Re:Bank transfers take too long!!
Anonymous wrote:SoFi ACH transfers are fast same-day. Submit transfer at 9am and in an external bank at 1pm. Marcus is fast too - same day.

Ally and Schwab take a day. Unacceptable.


Those same day transfers are likely just credits to your account provided by the financial institution. It’s likely just a pending transfer that is not yet fully settled. They may even let you play with the pending funds inside their ecosystem (eg use their brokerage to purchase stock) but wouldn’t let you move those funds outside their system.

Most ACH payments take T+1 to settle and some take up to 3 days.
Anonymous
Post 03/24/2023 14:46     Subject: Bank transfers take too long!!
Sounds like someone trying to start a bank run on Ally and Schwab.
Anonymous
Post 03/24/2023 14:38     Subject: Re:Bank transfers take too long!!
Ally takes a day for me, that seems reasonable--I don't need it faster. Bank of America is REALLY slow as is capital one--and for a variety of reasons I have an account with both. A transfer between them can take 4-5 days all said and done, though usually I can use the funds in 3. I think they are pushing zelle--which is immediate.
Anonymous
Post 03/24/2023 14:29     Subject: Re:Bank transfers take too long!!
SoFi ACH transfers are fast same-day. Submit transfer at 9am and in an external bank at 1pm. Marcus is fast too - same day.

Ally and Schwab take a day. Unacceptable.
Anonymous
Post 03/24/2023 14:06     Subject: Re:Bank transfers take too long!!
That's a big benefit of digital assets.
Anonymous
Post 03/24/2023 14:03     Subject: Re:Bank transfers take too long!!
That sounds like a problem with your bank. My bank transfers are immediate and if I were to overdraw an account so long as I have money in another account it doesn’t matter.
Anonymous
Post 03/24/2023 14:01     Subject: Bank transfers take too long!!
I have Ally and Schwab accounts. I have a debit card attached to my Schwab account. Whenever I want to transfer money, it takes at least 4 days it seems, and sometimes I end up overdrafting one account or the other because of how long it takes. It’s not 1990 wtf!