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