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Transfer Time
November 4, 2007
2:34 pm
jc
Guest
Guests

**Examples for transfer outs are submitted with at least 2 days advance notice.

All examples are transfers made from within CTFS website and not on the PCF site.

Transfered from CTFS to PCF effective Wednesday, Oct 31st, 2007.
Funds debited from CTFS on Wednesday, Oct 31st, 2007. (Funds put on hold on Oct 30th, 2007 to cover the transfer)
Funds credited to PCF on Wednesday, Oct 31st, 2007.

Transfer from CTFS to PCF effective Monday, Nov 5th, 2007.
Funds debited from CTFS on Monday, Nov 5th, 2007.
Funds credited to PCF on Tuesday, Nov 6th, 2007.

Transfered from PCF to CTFS on Friday, Nov 2nd, 2007 after business hours.
Funds credited to CTFS on Friday, Nov 2nd, 2007.
Funds debited from PCF on Tuesday, Nov 6th, 2007 early morning (before transfers between PCF accounts).

Transfered from PCF to CTFS on Friday, Oct 19th, 2007. I think future dated transfer or before business hours so it was processed during businesss hours.
Funds credited to CTFS on Friday, Oct 19th, 2007.
Funds debited from PCF on Saturday, Oct 20th, 2007 (posted on next business day but make sure you had the funds available on Friday).

November 4, 2007
6:46 pm
Peter
Admin
Forum Posts: 1090
Member Since:
May 15, 2007
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That's some pretty fast timing! I wonder whether all external transfers are 1 to 2 business days or less now. I remember when I first started with ING Direct in 2004, it took about a week to transfer funds to an outside account.

November 4, 2007
8:52 pm
jc
Guest
Guests

From what I have seen, they are usually posted on the other bank account in one day if you had submitted the transfer out in advance or by their cut-off time for transfer out.

CTFS is the only bank I ran into that transfers your funds the day before and debits your account the following day. The external bank would receive the funds the day CTFS debits your account which means no lost interest on funds that was in-transit.

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