I alway wonder if anyone is making money on my money when I do an ACH (automated clearing house) transfer.
When you do an ACH transfer the money leaves your outgoing account and may take 1 to 4 additional days (delayed by weekends or holidays) to finally reach your incoming account. The banks swear up and down that they don't make any money. It is hard to believe in this capitalistic society that the billions of dollars that haven't reached the final destination aren't earning someone money. When I do an ACH with EmigrantDirect and ING during the week, I lose only 1 day of interest but with HSBC, I lose 2 days, so for HSBC, I try to do the ACH Mon or Tues or i'd lose 4 days of interest.
Any thoughts
When you do an ACH transfer the money leaves your outgoing account and may take 1 to 4 additional days (delayed by weekends or holidays) to finally reach your incoming account. The banks swear up and down that they don't make any money. It is hard to believe in this capitalistic society that the billions of dollars that haven't reached the final destination aren't earning someone money. When I do an ACH with EmigrantDirect and ING during the week, I lose only 1 day of interest but with HSBC, I lose 2 days, so for HSBC, I try to do the ACH Mon or Tues or i'd lose 4 days of interest.
Any thoughts