topic Re: banks that pay (more) quickly? in Personal Finance

banks that pay (more) quickly?

expatCanuck — Tue, 15 Jan 2019 18:17:56 GMT

Hi folks.
Anyone care to opine on banks that, in your experience, effect 'push' payments quickly/expeditiously?

I'll offer that, in my experience, TD Bank is good in this regard. Larger banks tend to receive payment the next business day. In contrast, Cap One seems already to take *at least* an extra day.

Re: banks that pay (more) quickly?

Kforce — Tue, 15 Jan 2019 18:59:29 GMT

In my opinion, YMMV.

Fast : Barclays

Slow : Ally, Capital One, Goldman Sachs

Re: banks that pay (more) quickly?

UncleB — Sun, 20 Jan 2019 00:40:30 GMT

I'm not sure if you're referring to ACH push transfers or billpay push, but for me USAA is exceptionally quick at both.

Their billpay is "powered" by CheckFree, so they are the same as any other bank that uses CheckFree in that regard. For ACH transfers to another bank account it's almost always the next day at the latest, and if I do a push early enough I've even seen it at Wells Fargo later the same day.

If you're talking about billpay exclusively, I've found Wells Fargo's to be acceptable, with payments usually taking either one or two days with the couple of bills I occasionally run through them (my primary is USAA).

I will add that during the Wachovia merger when Wachovia accounts were migrated to WF's in-house solution payments did seem to take longer than on the old system (which was also CheckFree), but I've not used WF for billpay often enough the last couple of years to know if this is still the case.

Re: banks that pay (more) quickly?

expatCanuck — Sun, 20 Jan 2019 03:59:02 GMT

Referring to paying credit card bills from the bank.

Re: banks that pay (more) quickly?

Anonymous — Sun, 20 Jan 2019 09:54:03 GMT

expatCanuck for myself US Bank has been almost as fast as USAA Bank if I input the transaction early enough. Not unusual to see the same day or one day later depending on timing.

Re: banks that pay (more) quickly?

CreditInspired — Sun, 20 Jan 2019 13:25:20 GMT

NFCU is next day. They also offer rush delivery, which is $5 for same day payment.

Re: banks that pay (more) quickly?

Anonymous — Sun, 20 Jan 2019 19:06:25 GMT

@Kforce wrote:
In my opinion, YMMV.
Fast : Barclays
Slow : Ally, Capital One, Goldman Sachs

I wouldn't put Ally in the slow category, they have 2 levels of ACH, 1 day vs 3 days, to qualify for 1 day ACH for each external account, you just have to ACH at least $250 in and out of that said external account.

Re: banks that pay (more) quickly?

Anonymous — Sun, 20 Jan 2019 19:50:07 GMT

1stBank is two days so far in my experience - you can’t schedule a payment for the same day, it has to be the next day, and they send it and then draft my account a day later.

Re: banks that pay (more) quickly?

Anonymous — Mon, 21 Jan 2019 11:20:39 GMT

Discover pushes have been same day for me lately.