Fund transfer

[ronin]

How long might it be supposed to take for an ACH transfer from a mutual fund to a checking account? This is the first month I'm taking my muni bond interest instead of reinvesting. The fund company shows the transfer initiated on Friday, 7/30, but it hasn't hit my bank yet. Just wonder if it takes 2-3 days normally or what?

 

[FIREd]

It takes about 1-2 business days for the money to show up in my checking account.

 

[ronin]

Thanks, do you notice it after the close of business or sometime during the business day? Just wondering if I should wait to check in the evening today.

 

[FIREd]

My transfers get credited in the early morning.

 

[ronin]

OK, so maybe tomorrow. I don't need it to stay in the black, just looking forward to seeing it actually work properly.

 

[FIREd]

I don't know who you are banking with, but for amounts lower than $10K, I find that the quickest way to transfer money from my Vanguard account to my checking account is to use my Vanguard MMF's check-writing privilege and deposit the check to my bank account which gets credited immediately.

 

[Meadbh]

http://en.wikipedia.org/wiki/Settlement_(finance)

"In the U.S., the settlement date for marketable stocks is usually 3 (three) business days after the trade is executed, and for listed options and government securities it is usually 1 (one) day after the execution."

 

[ronin]

It showed up in my acct. this AM. So that's a good thing.