Quote:
Originally Posted by mrvirgo
krayziebone33, did you have HSBC transfer money to your HSBC account? I've found they are very fast pulling money from other banks, but you won't see it credited to your HSBC account for two more days after that. What happens to your money those two missing days is anyones guess.
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It's sitting in HSBC's accounts, earning them interest. It's part of how they are able to offer the high savings rates. If everyone else can manage an ACH transfer in two days, it's the only explanation that makes sense. They're "working the float". IMO only, no hard facts to back it up. I certainly hope that's the reason for the long transfer times, otherwise we're looking to incompetence for an explanation.