A little frustration when transferring

iVillage Member
Registered: 01-23-2007
A little frustration when transferring
2
Thu, 02-05-2009 - 3:44pm

balances. At least I've seen this happen in my accounts and it really makes me angry.

When you transfer a balance it seems to "sit" in both accounts for at least some time. I just checked my accounts and the $4000 is still in Citi but has also posted to the Chase account where I want it. Does anyone know if this is standard procedure? Does it last 24 hours? Anyone with similar tales to tell?

Dee









Avatar for mahopac
iVillage Member
Registered: 07-24-1997
Thu, 02-05-2009 - 4:22pm

No answers for you on this question, but I would suggest that if it's at all possible for you to join a credit union instead, you do so. I've seen so many sketchy banking practices detailed on this board, and I have had no experiences like that with my credit union. When I transfer money from savings to checking, it's effective immediately. Every day they batch all your deposits first, THEN your checks and debits. Checks are free. There are no additional ATM fees. It's so aboveboard, just the way it should be.

Credit unions are more widely available than they used to be. Might be worth looking into.

Kelly

Avatar for earnhardt_jr_fan
iVillage Member
Registered: 03-25-2003
Thu, 02-05-2009 - 5:21pm

I may be wrong,

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