Transferring to EQ | EQ Bank | Discussion forum

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.