What Banks have a fast processing time?

amclaughlin42 · ‎10-11-2015

Me and My wife are looking for a bank that has faster processing time, I get paid Wednesday, and it doesn't fully show the balance until the following Monday or sometimes Tuesday. I live in Southern Illinois, I bank with First Financial, and it takes forever, and I would love to switch to a better bank.

Cards: CreditOne AMEX - $600, Cap1 QS - $500, Avant-$300, Cap1 WM Store - $300
GOAL - Chase FU - Goal Score 725
07/2021 - Experian 675 Equifax 673 Transunion 688
07/2019 - Experian 623 - Equifax 628 - Transunion 622
04/2019 - Experian 597 - Equifax 610 - Transunion 619
01/2017 - Experian 479 - Equifax 457 - Transunion 461
04/2017 - Experian 502 - Equifax 473 - Transunion 476

Anonymous · ‎10-13-2015

Is it taking this long to clear a check or direct deposit? If its as check it shouldn't take that long at all....unless they have good reason a bank can't hold a check longer than two days. Most banks clear next day now anyway. I work for a small 14 branch/$1.2B bank and we are next day....and even same day to folks we have known for a long time.

Anonymous · ‎10-13-2015

I've had Citizens, US Bank, NFCU and USAA.

USAA is the fastest. ACH direct deposit available almost instantly.

Just started PenFed, no details yet.

UncleB · ‎10-17-2015

@Anonymous wrote:
I've had Citizens, US Bank, NFCU and USAA.

USAA is the fastest. ACH direct deposit available almost instantly.

Just started PenFed, no details yet.

+1

If you're eligible, USAA is hands-down the fastest I've experienced. Most people even get credit for direct deposits a day early (I do, and two brothers do as well, all with different pay sources).

Recently Wells has gotten much faster at processing transactions (now they process throughout the day instead of being batched at night) however they still credit direct deposits on the actual day it's to be paid (as far as I know, anyway).