Banks with same-day ACH?

[TyrannicalDuncery3]

I was trying to come up with two lists:

• banks with same-day ACH push that report to EWS;
• banks with same-day ACH push that do not report to EWS.

Here is my attempt to make a list. I will add some citations later. Thoughts?

Maybe:

• Alliant: some people say they have same-day ACH; I think they do report to EWS
• CIT: some people say they have same-day ACH; I don't know whether they report to EWS
• Hanscom: DoC says they have one-day ACH, they are weird so I put them in the list
• Marcus: some people say they have same-day ACH; I think they don't report to EWS, some people say they are nosy
• SoFi: some people say they have same-day ACH; I think they don't report to EWS
• USAA: some people say they have same-day ACH; I think they do report to EWS

Same-day ACH, no EWS:

• Bask

Same-day ACH, yes EWS:

• Ally
• Amex
• Fidelity (also free wire transfers)
• Schwab
• US Bank

some references:

• https://www.bogleheads.org/forum/viewtopic.php?t=440488
• https://www.doctorofcredit.com/hub-a...l-institutions
• https://www.doctorofcredit.com/banks...ning-services/
• maybe there is some relationship between who is in NACHA and who has same-day ACH pushes? I'm not sure https://www.nacha.org/

[TrapLine]

All that is very interesting.

Need to add that Fidelity Investments uses the FastFed Service and then places a ten day hold on the funds for withdrawal but you can freely invest the funds. Interesting as the money has long cleared from the other banks.

What are we afraid of? Getting slapped with more money laundering?! Sure cramps one's style if you are trying to use the Fidelity CMA Account as your main squeeze (which I am not). Their holds sure changed my viewpoint!

Oh, add US Bank to the list as they use the FastFed Program. Same day.

[TyrannicalDuncery3]

Nice @TrapLine , thanks! When you talk about the 10-day holds with Fidelity, I assume that's after receiving a pull or maybe after receiving a push?

Do you know what exactly FastFed provides? Does it mean you generally can do same-day push from the FastFed institution to any institution?

I'll add US Bank if I can still update the post.

[KatzNDawgs]

I use USAA as my hub bank, they do immediately available pulls. For pushes, it seems to depend on the destination. The only one of my banks (have WF, NFCU, Citi, Fidelity, VACU, Apple FCU, CapOne, PenFed, Laurel Road, Ally, AMEX, gosh I just realized I should close some!) it seems to push same day - like I push in morning and it's there by afternoon - is Service Credit Union.

[TyrannicalDuncery3]

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@KatzNDawgs wrote:

it seems to push same day - like I push in morning and it's there by afternoon - is Service Credit Union.

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Nice, thanks!! You mean like when you push from Service to somewhere else, it is available in the afternoon?

[TrapLine]

As to the push from any financial that is connected to the FastFed Program it may come in or out of the member account right away (same day) but the other financials in the chain of activity may not be FastFed and the speed will vary.

US Bank has been same day for their part of a transaction but again ... not every other financial is part of the FastFed so the same day ends up not being the same day. All this is based on my utililizing FastFed participants and watching how the non particpants handle it.

Like I mentioned, Fidelity Investments uses partners and even if they are part of the FastFed network Fidelity Investments places hold on incoming funds for the purposes of cash withdrawals (ATM Cards/Checks/Wire Transfers/etc) but, investments can be made almost immediately within their product offerings. There was a big dust up not to long ago in the world of money laundrying so there may be an effect on trying to pass cash through different financials at this time. No recent write ups to call on?

[KatzNDawgs]

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@TyrannicalDuncery3 wrote:

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@KatzNDawgs wrote:

it seems to push same day - like I push in morning and it's there by afternoon - is Service Credit Union.

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Nice, thanks!! You mean like when you push from Service to somewhere else, it is available in the afternoon?

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No, I mean when pushing from USAA, it only goes to SCU same day, most others a couple business days.

[Anonymous]

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@TrapLine wrote:

As to the push from any financial that is connected to the FastFed Program it may come in or out of the member account right away (same day) but the other financials in the chain of activity may not be FastFed and the speed will vary.

US Bank has been same day for their part of a transaction but again ... not every other financial is part of the FastFed so the same day ends up not being the same day. All this is based on my utililizing FastFed participants and watching how the non particpants handle it.

Like I mentioned, Fidelity Investments uses partners and even if they are part of the FastFed network Fidelity Investments places hold on incoming funds for the purposes of cash withdrawals (ATM Cards/Checks/Wire Transfers/etc) but, investments can be made almost immediately within their product offerings. There was a big dust up not to long ago in the world of money laundrying so there may be an effect on trying to pass cash through different financials at this time. No recent write ups to call on?

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I've only found this (and they say something similar) for funds that Fidelity pulls into the CMA.  All pushes, direct deposits etc, are available without hold.

[Outbackexplorer]

Curious if anyone has datapoints for wealthfront or primis bank, they both seem like good fidelity alternatives

[TyrannicalDuncery3]

I think I saw someone on FT in the New to MS thread saying that Wealthfront was good but not same-day. Some old info on Wealthfront also here: https://www.doctorofcredit.com/hub-accounts-ach-transfers-capabilities-fees-limits-across-financial-...