Balance transfer "takes up to two weeks"

[cashorcharge]

Despite being quoted the same 2 weeks, my recent USAA Balance Transfer took 4 days...

[SouthJamaica]

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@OmarGB9 wrote:

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@SouthJamaica wrote:

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@OmarGB9 wrote:

Yea that's nothing new I'm afraid. BTs at any institution take up to 2 weeks usually. I've done plenty of BTs, and it can and often does take the full 2 weeks. 

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I have had many take longer than 2 weeks. I've had a bunch that have taken 3 weeks to a month, a few that even went over a month.

Those balance transfers which are paid by ACH are very quick.  Many institutions pay them by ACH if they have the ACH information for the receiving bank. Navy, unfortunately, seems to use paper checks + snail mail each and every time.  But I do believe it puts the check in the mail faster than most credit unions.

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I've never had one take a month or more, but one did take around 3 weeks, and that was only cause the check got lost in transit, but was magically found when I called in. 

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I believe my worst experiences with balance transfers were with credit unions which use PSCU to manage their cards.

I had one recently that took 3 1/2 weeks, when PSCU was managing both the sending institution and the receiving institution. Both credit unions had the same payment address, including the same post office box, in Philadelphia.

[RealEstateGuy89]

I did my first one in a long time a couple weeks ago from GreenState and must have gotten lucky.  It took 4 days total. 

[OmarGB9]

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@SouthJamaica wrote:

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@OmarGB9 wrote:

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@SouthJamaica wrote:

---

@OmarGB9 wrote:

Yea that's nothing new I'm afraid. BTs at any institution take up to 2 weeks usually. I've done plenty of BTs, and it can and often does take the full 2 weeks. 

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I have had many take longer than 2 weeks. I've had a bunch that have taken 3 weeks to a month, a few that even went over a month.

Those balance transfers which are paid by ACH are very quick.  Many institutions pay them by ACH if they have the ACH information for the receiving bank. Navy, unfortunately, seems to use paper checks + snail mail each and every time.  But I do believe it puts the check in the mail faster than most credit unions.

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I've never had one take a month or more, but one did take around 3 weeks, and that was only cause the check got lost in transit, but was magically found when I called in. 

---

I believe my worst experiences with balance transfers were with credit unions which use PSCU to manage their cards.

I had one recently that took 3 1/2 weeks, when PSCU was managing both the sending institution and the receiving institution. Both credit unions had the same payment address, including the same post office box, in Philadelphia.

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Guess that's when you'd have to specify the FI, along with your account number of course.