Checking accounts with real time ACH transfer

[FicoMike0]

Is bank waives the fee on smarty checking if your over 65 or under 25.

[FicoMike0]

US bank.

[xenon3030]

Since I had a SUB invitation from US Bank for a personal checking, I called them and after confirmation of SUB conditions, I applied online and the account got opened immediately.

I am doing a few early tests on the ACH speed . I tried to do one ACH pull from my US Bank to my Chase and within a few minutes, it went pending on Chase. For more accurate tests, I would wait for 2-3 days to get this external account gets verified also on the Chase side. Put more money in the account and start doing a few ACH inbound and outbound.

[xenon3030]

The real-time transfer option in the US Bank became available in day2 and it worked as expected. The ACH tranfer option is also fast and it delivers in the next day.

So, I decided to move to the US Bank checking to minimize any fee.

[PutThatMoneyOnTheTable]

If next day transfer is ok for you, Well Fargo offers next day and 2 days ACH transfers

[xenon3030]

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@PutThatMoneyOnTheTable wrote:

If next day transfer is ok for you, Well Fargo offers next day and 2 days ACH transfers

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WF is a weirdo bank. For example, they place a hold on any deposited check for around 15-20 biz days!!! for any new checking account in the first year. Last year, I opened a checking account with them. To address this issue, I talked to several levels of managers and no resolution was given. So, after collecting the SUB, I decided to close it and move on.

[creditfan]

"Arrives Instantly" is what they named it from USbank. However, it comes with fee if you utilize the feature. I got a few "service charge" until I reach out to them to know it is what it is. 

for me, not worth to throw away the money. same day vs next day not big of a deal

[xenon3030]

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@creditfan wrote:

"Arrives Instantly" is what they named it from USbank. However, it comes with fee if you utilize the feature. I got a few "service charge" until I reach out to them to know it is what it is. 

for me, not worth to throw away the money. same day vs next day not big of a deal

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I asked it before from the banker in this week and it should be free. None of my instant transfers induced any fee.

There might had be fees in the past. You might double check it now.

[TrapLine]

Love the real time with US Bank. Note, that there were no costs on either end of the transactions.

Now with that being said, I do not know if the no cost is related to the old or new type of checking account terms and conditions a person may have (Smartly Checking vs the previous versions). Also, do not know if the level a person is at in the US Bank Smartly Checking plays a part or not. Anotherwords are the terms and conditions different?

Something to look at?

[xenon3030]

The only personal checking that US Bank provides is "smartly checking". There is no tier and the external transactions are free (only the wire transfers have fee).

Some time ago, US Bank was providing a Gold checking account. The fees that some users are talking about might be for that old checking account. Those accounts were converted to smartly checking.