"Eisboch" wrote in message
...
"D.Duck" wrote in message
...
"Vic Smith" wrote in message
news
On Wed, 6 Aug 2008 06:47:05 -0700 (PDT), wrote:
It depends soley on what bank, and that bank's policy for POSTING the
funds, as opposed to GETTING the funds.
Yeah, I do major bank account transfers and there's a 3-4 business day
lag for the money to be posted from one bank to another.
Wire transfers have been even worse.
No excuse for it nowadays with most transactions occurring real-time.
But they must have some kind of suspense account manipulation going
on to maximize interest profit. So I think, anyway.
--Vic
If it's taking 3~4 days it maybe an ACH (Automated Clearing House)
transfer. The old fashioned "wire transfer" can be done in a couple of
hours within baking hours.
The last couple of wire transfers we have done were completed within an
hour or so. Didn't seem to have a magic hour of the day or anything.
BTW .... back to the OP's question. He should ask what bank the other
party uses. I've done a couple of transactions where both parties used
the same, national bank. In that case, the funds can simply be
transfered from one account to the other at any branch office in a matter
of minutes.
Eisboch
What I find is that the bank/investment house account records I deal with
via the Internet are "updated" between mid-night and maybe 6AM. At least
that's when the information is available for me to view.
I make ACH transfers monthly and they take a couple of days to clear. An
"old fashioned" wire transfer that you describe can be processed and funds
available any banking day up till usually a 2PM cutoff time.