[PLUG-TALK] Off topic - bank transfers

Paul Heinlein heinlein at madboa.com
Wed Jun 11 10:43:09 PDT 2008


On Wed, 11 Jun 2008, David Mandel wrote:

> On Wed, Jun 11, 2008 at 6:41 AM, AthlonRob <AthlonRob at axpr.net> wrote:
>>
>> It takes 'em three or four days to get a check from you clicking 
>> send to the recipient getting the check, FWIW.
>>
>> Rob
>
> Thanks Rob.
>
> I haven't counted, but Key Bank must take about 7 days.  It sounds 
> like US Bank is faster.  Still, overall I like both banks; and 
> certainly plan to continue using both banks - Key Bank for Linux 
> Fund and any other non-profit stuff I do and US Bank for my personal 
> and for-profit business accounts.  There isn't a good reason for 
> this. It simply evolved that way and it works.

The US Bank setup is pretty slick. It works wonderfully with Firefox 
and Safari (can't speak to IE :-).

You're given the option to search for a business by phone number. If 
US Bank recognizes the number, it'll automatically setup the payment 
scheme. Otherwise, you can manually enter the name and address of the 
recipient.

Your electronic checks are given sequential numbers quite higher than 
those currently in your checkbook. My physical checks, for instance, 
are in the low 1000s, and the electronic ones are in the 5000 range. I 
don't know any more about the number-assignment algorithm than that.

The turnaround time for recipients US Bank can autofill is quicker 
than for those needing a physical check sent via the postal service. 
The former is about 3 business days, the latter about 5 business days.

-- 
Paul Heinlein <> heinlein at madboa.com <> http://www.madboa.com/



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