A question about banks that are not brick/motor

Discussion in 'Budget Board' started by mudnuri, Aug 23, 2005.

  1. mudnuri

    mudnuri <font color=deeppink>I HATE it when I miss somethi

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    Can anyone give me an average of time it takes to transfer money from a brick/motar type bank to one that is only online....or vise/versa.

    Doesnt matter what online bank....

    Thanks

    Brandy
     
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  3. Lisa loves Pooh

    Lisa loves Pooh DIS Veteran

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    Not sure your question--but a bank is a bank. The length of time it will take for a transfer to post will depend on the regulations for your particular bank you are transfering from and the bank you are transfering to. As long as they are part of that whole FDIC business---and are actually a bank.

    We bank with USAA---and they do have brick and mortar--but in San Antonio, TX. We've never had any problems anywhere and we've never lived in Texas. Transfers post immediately upon receipt.
     
  4. mudnuri

    mudnuri <font color=deeppink>I HATE it when I miss somethi

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    Okay what I mean is- a bank that you can not walk into...ever...anywhere.

    If I went on line and made a transfer, how long would it take to actually go through?

    Does that make it clearer?

    Brandy
     
  5. iNTeNSeBLue98

    iNTeNSeBLue98 DIS Veteran

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    Typically about 3 days from online to brick/mortar. I setup a transfer from an online account in advance for 8/19 (Fri) and it posted 8/22 (Mon) to my checking account. The transaction cleared the following day.
     
  6. mudnuri

    mudnuri <font color=deeppink>I HATE it when I miss somethi

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    Thank you!!!!!!!!!!!!!!

    Brandy
     
  7. LisaNJ25

    LisaNJ25 DIS Veteran<br><font color=aqua>I paid $300 back i

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    If your talking about the orange ball bank I have 3 transfers pending and they will not be available for 7 days.
     
  8. iNTeNSeBLue98

    iNTeNSeBLue98 DIS Veteran

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    Interesting, but this will vary depending on your bank. I've never had to wait more than a few days.

    It does state on the transfer page that they are unable to guarantee when the transfer will be complete but that most are completed in two or three business days.
     
  9. DMRick

    DMRick I prefer to be tagless!

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    Paypal is usually 4 business days, in case you wanted to know that too.
     
  10. iNTeNSeBLue98

    iNTeNSeBLue98 DIS Veteran

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    I've noticed that PayPal transfers to my linked account takes a little bit longer than other transfers from other online banking to my linked account.
     
  11. rflorek

    rflorek DIS Veteran

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    Transfers from Paypal to my "brick & mortar" bank take about 3 business days on average. Transfers to & from the orange ball account takes 1-2 business days for me (I have an ASP set up for payday Fridays, and it usually hit my bank account on Monday)

    Of course, once you transfer into the orange ball account, your money is technically not available to you right away (I want to say it takes either 7 or 10 days to become available - they post the date right on your account summary page)

    Robyn
     
  12. ladysoleil

    ladysoleil <font color=purple>my booty is a big fan of Cotton

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    transfers from my online account to my Bank of America account tend to take 3-4 business days.

    Transfers from my BOA to my online account seem to take about a day for the money to show as a transfer but four or so for the funds to actually post.

    So, I'd say a good rule of thumb is to allow one week for safety to have funds clear between the accounts, ie, move the funds a week before you need them.
     
  13. minnie1928

    minnie1928 WDW addict

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    Depends on the banks and how often they create/download a file to go through the Automated Clearing House system (ACH). Some banks only create or download files once a day, typically first thing in the am. However some other banks may create files first thing in the morning, late morning, early afternoon, late afternoon. I don't think it's a "brick and mortar" issue, in fact that probably has little or nothing to do with it. I think it's more of individual decision by each bank as to how often they want to process ACH files.

    Also, ACH transfers are supposed to be treated as "good" funds and not subject to holds the way deposited checks are treated.

    Hope that helps :rolleyes:.
     
  14. NancyIL

    NancyIL DIS Veteran

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    I have transferred money from my checking account to the "orange ball bank" - and while the money is transferred within about 3 days, "deposits are not available for withdrawal for 5 business days from the date of deposit."
     
  15. C.Ann

    C.Ann <font color=green>We'll remember when...<br><font

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    ----------------------------------

    I've waited as long as 5 business days for a PayPal transfer but I'm not sure if the hang-up is on the PayPal end or the bank end.. If I ever get back into eBay again I'm going to change my linked account to one of two other banks and I'll see if it makes a difference..
     

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