Now that rates are higher, doing deposits of sizable funds makes it important to determine how quickly those deposits will start earning interest.
Many places allow deposits via atm, edeposits via online images, or via other means like SHARED BRANCH for many credit unions.
Most of those will take a while before they clear the deposit, and start paying interest.
I'm looking for leads for places that can take my check deposit, and put it to work in a savings or money market at 4-5% immediately .... hopefully same day as the deposit. Sure, they still have to validate the deposit, but if good, the interest still starts back with the deposit date.
I have only found one local BANK that will take my check, put it in a Money Fund, and pay interest starting that same day. Problem is that when I need to move the funds, the money fund will charge monthly fees if remaining balance is less than 25K.
I see many places that have savings or MMF that do not charge monthly fees, but clearing a deposit to start paying interest can vary from one to multiple days. I have used ACH to ALLY, but they now usually take 3-5 days before the deposit shows up in the savings account to start earning interest.
Any suggestions for easily parking liquid funds and still earning interest immediately, and then easily allows for later movement to other investment products at other firms??