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ACH transfers take 8 days to complete at Netbank


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#1 markber

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Posted 26 August 2005 - 05:53 AM

According to the following FW post, it takes 8 days for Netbank to complete an ACH transfer. For comparison, it takes about ~ 2 days for an USAA ACH transfer to go through.

by: allen074


"ok - i am a semi-new customer to netbank - about 4 months.... i have stated to look to doing transfers in from my other bank...

aug 18th - initiated transfer from netbank.com
aug 21th - shows as a deduction on my other bank account
aug 25th - shows as a credit on netbank

now i tell you - on my other electronic banks, ing, emigrant - whenever i transfer, the day it shows deducted from bank a, it always has shown as a credit the same day on bank b

i am really not happy with netbank - their support takes a week to respond to questions - blah

any thoughts here?

thanks
"

source: fatwallet.org/t/52/512990/

#2 ABOUTBENS

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Posted 30 August 2005 - 12:14 AM

wink.gif I have NetBank accounts and have noticed the delayed transfer as well. I mainly signed up with them to get the $75 Bonus, and I will probably close the accounts once my accounts have been open 6 months and I get the bonus. wink.gif

#3 mnl8844

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Posted 30 August 2005 - 01:41 AM

the only reason i'm keeping netbank is for the 1 buisness day ATM deposits and the account aggregation. if i can find another bank that offers that, netbank is history.

#4 doglar

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Posted 28 October 2005 - 03:26 AM

I have noticed my HSBC account transfers always make me loose about 2 days worth of interest (2 for days the money is in neither account) (-2 on my rating scale). I suspect HSBC gains in the interest of the lost 2 days. So although HSBC has free push-pull, I avoid it and use CapOne as much as possible. CapOne has a +1 on my rating scale, as money pulled shows up one day before the money in the other account disappears. Pushed money is only a -1 (if done at optimum time). My limited experience with Emigrant transfers, has not shown better performance than capone. I am looking for another bank that matches CapOne's performance in that area.

#5 MacBanker

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Posted 18 December 2005 - 05:51 PM

QUOTE(doglar @ Oct 27 2005, 11:26 PM)
I have noticed my HSBC account transfers always make me loose about 2 days worth of interest (2 for days the money is in neither account) (-2 on my rating scale). I suspect HSBC gains in the interest of the lost 2 days. So although HSBC has free push-pull, I avoid it and use CapOne as much as possible. CapOne has a +1 on my rating scale, as money pulled shows up one day before the money in the other account disappears. Pushed money is only a -1 (if done at optimum time). My limited experience with Emigrant transfers, has not shown better performance than capone. I am looking for another bank that matches CapOne's performance in that area.
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It is even worst with EverBank. It is -3 on Pull and haven't tried push yet. I'm affraid I'm gonna loose a lot of interest days so next time I'm going to initiate the trasnfer from Emigrant Direct

#6 propcgamer

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Posted 16 February 2006 - 10:19 PM

yea, this is one main reason i hate netbank





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