topic Re: Man, PNC's external ACH transfer times are no joke... in Personal Finance

Man, PNC's external ACH transfer times are no joke...

Anonymous — Fri, 14 May 2021 01:01:35 GMT

I just opened up a Virtual Wallet Pro account and was pretty excited, because it checked all of the boxes for what I want out of a checking account. I currently have a HYSA at a different bank, and I transfer funds to it once or twice a month.

With every other bank I've had, when I would push funds to the savings account they would be available the next day or 2 days later at the most. With PNC, I've seen anything from 4-7 days for the funds to transfer. I've NEVER had a bank take this long to transfer funds to an external account. Does anyone know why they take so much longer than other banks?

Re: Man, PNC's external ACH transfer times are no joke...

DaveInAZ — Sat, 15 May 2021 22:39:19 GMT

I opened a PNC Virtual Wallet account earlier this year. I haven't tried a push from PNC to an external account yet, might do so to check it out. But I've I've done a couple pulls to PNC from an external account. While PNC doesn't credit the funds for 3 biz days they usually pull the funds in a day or two at most. Maybe your HYSA isn't crediting your deposit for a day or two? 4-7 days does seem extremely long, 3 days is pretty standard.

Re: Man, PNC's external ACH transfer times are no joke...

Anonymous — Mon, 17 May 2021 12:55:59 GMT

Normally I'd agree with you, but when I initiate a push from my NFCU checking account to the same HYSA account, the funds show up the following morning.

@DaveInAZ wrote:
I opened a PNC Virtual Wallet account earlier this year. I haven't tried a push from PNC to an external account yet, might do so to check it out. But I've I've done a couple pulls to PNC from an external account. While PNC doesn't credit the funds for 3 biz days they usually pull the funds in a day or two at most. Maybe your HYSA isn't crediting your deposit for a day or two? 4-7 days does seem extremely long, 3 days is pretty standard.

Normally I'd agree with you, but when I initiate a push from my NFCU checking account to the same HYSA account, the funds show up the following morning.

Re: Man, PNC's external ACH transfer times are no joke...

spiritcraft1 — Mon, 17 May 2021 14:28:09 GMT

Even on the business side it is record setting slow. All banks blow in this regard with a few exceptions. They purposely do this to hold money and collect interest. Doesn't seem like much but it adds up for them with millions of transactions adding up.

Credit Unions are far better as a whole and some are outstanding.

Re: Man, PNC's external ACH transfer times are no joke...

DONZI — Thu, 15 Jul 2021 22:42:36 GMT

@Anonymous Maybe it'll loosen up later if the PNC account is very new.

I had some severe delays seeding a new brokerage account via an ACH from a local bank, was ~$28k out of a saving/money market account which took a APY nose dive after idling a year @ 1% -- not sure it would trigger the Currency and Foreign Transactions Reporting Act since I was just moving money among my own FI circle.

FWIW, I just did a 2 substantial pushes out of 2 HYCA @ Schwab Bank (also old/known money) into better HYCA at another bank. Expect it to land tomorrow but never know it seems.. If anyone is interested in any DP I'll drop them in here for reference.

update : FYI - pushed ~5-6pm and completed just after midnight