Hi all,
I'd love to get a community curated list of ACH Transfers as they actually are in the wild so we know how many days of lost interest to expect. I was thinking of putting it into an CSV format so anyone could copypasta it and do what ever they needed. I'll start:
Institution, ACH Type, Days to credit, Days to debit
Ally, Pull (1 day available), 1, 1
Ally, Pull (3 day), 4, 1
Ally, Pull (3 day), 3, 1
Marcus, Pull, 0, 1
Citizens Access, Pull, 0, 1
Schwab, Pull, 1, 1
I don't do ACH pushes often so I don't have any data hanging around but in my limited memory, pulls are faster.
To clarify if I initiate a transfer on Day 0, a days to credit/debit of 1 means there'd be no lost interest as the money would change places simultaneously. Some places like Marcus and Citizens Access have 0 because they credit the money immediately (i.e. added to total balance but not available balance [this varies based on holds]) and the money will be removed from the account it is being pulled from the next day. Something like my Ally 3 day pull that was credited on Day 3 and debited on Day 1 means I had 2 days of lost interest.
Let me know your thoughts on the idea, the data format, if anything is missing, and, of course, add any unique data points you have available!