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Transferring to EQ
February 17, 2016
12:14 pm
Forum Posts: 6
Member Since:
February 17, 2016
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Made my first transfer from an external account link. It said processing time would be 5 business days, but I received an email within minutes that that acknowledged the deposit. Does anyone know if the deposit will start earning interest immediately or after 5 days?

February 17, 2016
12:29 pm
Forum Posts: 606
Member Since:
August 4, 2010
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It should be eligible for interest immediately. They are simply "pretending" the ETF has been done right away, even though it won't get inserted until tonight, and the money won't arrive for another day or two after that, at least. The five day hold prevents you from sending the money out again, but you get the interest. Not that different from other online banks, except I think they usually don't post the amount to the balance until overnight at the earliest, once the ETF has been batched out.

February 18, 2016
6:36 am
Forum Posts: 51
Member Since:
September 17, 2014
sp_UserOfflineSmall Offline

Last week I performed 2 transfers to EQ from the same bank
EQ Shows the transferred amounts immediately

1st Feb 11 cleared my bank on Feb 15 (Family Day)
2nd Feb 12 still has not cleared

Waiting to see how this will affect the EQ's hold period

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