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

On Aug 6, 12:53*pm, Vic Smith wrote:
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

I agree

"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.

"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

"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.

On Wed, 6 Aug 2008 19:57:37 -0400, "D.Duck" wrote:


"Eisboch" wrote in message
m...


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.


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.

I looked at my records and find that last year doing an account
transfer between two major banks took 4 days to posting.
This year - I do them every month or two - they are taking a day or
two.
I wasn't paying much attention since I had adjusted to doing the
transfers at least 4 days before I wanted the funds.
I cashed a couple CD's recently and each time it took at least 4
business days for the money to show up in my receiving account.
I was charged a "wire transfer" fee each time. About 20 bucks I
think. No big deal, but we do have different experiences.
I'll ask about their process next time I'm on the phone doing a wire
transfer.
But maybe not, since it's sometimes hard getting to the right person.
"Oh, I don't know. Would you like to talk to a wire transfer
supervisor?"
"That was sent immediately. You'll have to talk to the receiving
bank."
So I call the receiving bank. System is down.
Next day. "I can't see it in the system, but it might be in process."
Hardly a transparent process.
Not worth changing banks about though.

--Vic

"Vic Smith" wrote in message
...
On Wed, 6 Aug 2008 19:57:37 -0400, "D.Duck" wrote:


"Eisboch" wrote in message
om...


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.


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.

I looked at my records and find that last year doing an account
transfer between two major banks took 4 days to posting.
This year - I do them every month or two - they are taking a day or
two.
I wasn't paying much attention since I had adjusted to doing the
transfers at least 4 days before I wanted the funds.
I cashed a couple CD's recently and each time it took at least 4
business days for the money to show up in my receiving account.
I was charged a "wire transfer" fee each time. About 20 bucks I
think. No big deal, but we do have different experiences.
I'll ask about their process next time I'm on the phone doing a wire
transfer.
But maybe not, since it's sometimes hard getting to the right person.
"Oh, I don't know. Would you like to talk to a wire transfer
supervisor?"
"That was sent immediately. You'll have to talk to the receiving
bank."
So I call the receiving bank. System is down.
Next day. "I can't see it in the system, but it might be in process."
Hardly a transparent process.
Not worth changing banks about though.

--Vic

Hell Vic, it's only money. 8)