I switched to EFT many months ago but I just checked and there has been a two day gap between the time when Google reports a transfer and when my bank credits it to my account. I am trying to see if my bank is enjoying a little extra quality time with the money. If you have EFT does the Google date match the banks date? Please mention your bank (especially if its Wells Fargo).
Ok your just figureing it out. Banks always hold the money and earn interrest of it for a few days. They used to hold it longer but the goverment told them they had to clear funds faster. Remember one thing if funds are deposiited or transfered after 12 noon they do not show up in bank untill next day. Then you can not use them until 2 days after deposit. They transfer money instantly and earn interest and tell us it takes that long to clear. EFT clear as soon as it is sent. One other thing make me mad is epassport withdraws. Banks charge me $1.50 to $3 per withdraw and it is basicaly same thing as EFT. Same goes for wire transfer why do we pay up to $35 for one when it costs banks nothing.
Oh I figured it out some time ago. It used to be that they had to truely clear the checks but with EFT is instant. And the noon thing probably had to do with passing paper wires to a keypunch department for overnight keying. I was wondering if there were any honest banks out there. Banks do live in an interesting inverse world. They do something to save themselves money and pass the savings along to us...no wait, they charge for ATM's and Online Banking while saving teller and transaction costs. So is everyone using EFT seeing 2 or more delays or are you getting your money in your bank account when it actually arrives.
Well I just started using EFT for this months payment, and adsense shows that they've sent my payment, and it's not yet in my bank account; so, yes, I'm guessing it should be there tomorrow (I hope!). P.S. I've got an account with Bank of America.
Feb 26th PIP went onto my bank account on the afternoon of the 27th. I suspect it varies by bank how quickly they process the Google payments and post it to your account.
One day and I'm not from USA. Or maybe even less than a day since I live in GMT+1 timezone. Here electronic bank transfers comes 3 times a working day (there are 3 sessions) so you get the money the same day when it was sent. And I believe same is in entire EU (last international bank transfer I received was instant - I've got the money on the account even before I received an e-mail form my e-commerce saying that they had sent it ).
This morning I now have my Google funds (that Google sent 2 days ago) and my direct deposit payroll check which was sent 3 hours ago. I suppose if I ask about the difference they'll start delaying my pay check from being credited. Are there any US banks that make funds available without "processing" time?
Local transfers here can take up to 3 working days if they are not sent by wire, but done like in the old times. But are they still in use?