OT - I hate my bank

[nikkistevej]

I deal with this from the business side at work, and while yes, ACH's can take 2 days, wires are instant. We generally prefer to pay in ACH because wires cost money, but if we have a reason to refund a client or pay a bill instantly, we can do a wire. A wire also can't be recalled, while an ACH can. There is no reason that moving money from one's own savings to checking shouldn't be instant.

I work in wire at a bank(for 16 years), and wires can take up to 24 hours, they aren't actually instant. They can be within an hour, but they can take a day also. They can also be recalled. Not sure if that was the case in OP's situation though, if they were doing a wire/ACH/something else.

 

[Minnie-Mickey]

I'm confused why you don't like this. Isn't this (doing it in the order that you put them in) what everyone else is saying that the banks should do? How were they done before?

They would take out and put in all day long. If at the end of the day you were in the + it did not matter. ie now your check goes in at 10am but should have gone in say at open of day. Any check that posts that day would be in the negative due to a deposit delay. I never let it get close so it is not a problem but some of my coworkers it is a problem.

 

[anna08]

LOVE our credit union! They are awesome



This is not true- they will ask for your miltiary affiliaton to get an account through USAA- they are founded BY military FOR military - no non military allowed.
Now - you don't CURRENTLY have to be serving - as long as you have someone who HAS served in your family, I believe that you can still get an account.
(and everyone has SOMEONE in their family who has served) -

Not true for USAA BANKING, but it is for insurance. I just went through this with a family member. Seems they are willing to take anyone's money to make a bank account, just only insure the military families. I was surprised as well as I thought it was pretty exclusionary across the board. It's not.

 

[MamaBelle4]

OP here. I'm uploading a heavily redacted screenshot and I want someone to explain to me how this is legal, please.

And FYI, they've done nothing to rectify it so I've filed a complaint with the Consumer Finance Protection Bureau. I'll let you know if anything happens.