[PLUG-TALK] Off topic - bank transfers

David Mandel dmandel at davidmandel.com
Wed Jun 11 02:17:45 PDT 2008


Yes, banks do play with things.

I have several accounts with Key Bank and generally I'm very happy
with Key Bank.

I like to use their BillPay system to write checks on-line.  It is
very convenient, but:
(1) They only allow you to send checks to US addresses.
(2) They seem to take forever to print the check and mail it.

I also have accounts at US Bank.  I also like them, but I haven't
tried their BillPay system.
Maybe they are faster, but I doubt it.

David Mandel

On Tue, Jun 10, 2008 at 12:16 PM, AthlonRob <AthlonRob at axpr.net> wrote:
> On Tue, Jun 10, 2008 at 8:51 AM, Keith Lofstrom <keithl at kl-ic.com> wrote:
>> Not related to Linux per se, but lately I've been noticing that
>> various financial institutions are delaying payments, apparently
>> to profit on the float.  One recent check took almost 3 weeks to
>> clear, and Paypal is requiring 3 or 4 days.  Since the actual
>> electronic transfer takes milliseconds, there must be something
>> else going on.
>
> Usually it takes 2 days to do an EFT (think old-school batch jobs).
> I've noticed my bank has a three-day hold, so transfers take 3 days,
> but usually the funds are actually available after two days.  I get my
> paycheck a day early at that bank.
>
> The check that took forever to clear is odd, but 2-4 days for PayPal -
> yeah, they're playing the market for a day... all the banks do it.
> :-)
>
> Rob
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