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Why Is ACH Slower At Some Places Than Others?

Monday, July 29, 2013 - 9:36 PM
Bumped into this old "tutorial" on ACH transfers; seems to
be one of the better descriptions of this process I've read.
cumuluscumulus365 posts since
Jan 16, 2010
Rep Points: 1,712
1. Monday, July 29, 2013 - 9:41 PM
"Why does it take two days, three days, or even longer at some places? It could be because they use a third party service provider. The third party does the debit first. It makes sure it gets paid the next day before it sends the credit. It takes at least two days in such scheme. Or it could be because the ODFI doesn’t send the request on the same day you request the transfer. They hold your request for extra days."

Alliant is superfast (next day); but Ally is relatively slower.  The other hidden reason is the deliberate delay for banks to earn some free interest for them.
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,427