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Timing Your HSBC External Transfers

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One bad thing about HSBC Direct is the slowness of external ACH transfers. Not only is it slow but there are several days where the money gets debited from your external account before it is deposited at your HSBC account. During this time, you lose interest. This fatwallet thread provides some tips about when to initiate transfers. Wednesday and Thursdays are the worst days since the weekend will add two more days to the time between the debit and deposit.

Looks like my pre-holiday transfer was probably the absolute worst time. In that case the debit occurred on December 22nd and the deposit wasn't made until December 27th.
Comments
Andrea in Minnesota
Andrea in Minnesota   |     |   Comment #1
I have experienced the same troublesome delays, and I wonder if complaining to HSBC could help improve this. There shouldn't be any reason why EmigrantDirect can do it within two days, and HSBC can't. I suppose someone cashes in on the interest we lose in these transfers. Also, HSBC sends 3 emails to tell you about the transfer being initiated, in process, and completed. This is absolutely not necessary and almost ridiculous. One e-mail would be enough for me.
Banking Guy
Banking Guy   |     |   Comment #2
Thanks for the info. I guess it can't hurt to complain. I haven't heard any news about HSBC being like ING Direct and firing troublesome customers.

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