transferring money from online banks to brick and mortar

[audreyh1]

I plan to transfer 11k or 12k from Sycrony to chase. It usually takes a couple of days but I just don't know if I will run into a delay with the amount.

I doubt it. That is not large.

 

[target2019]

I'm not sure if Schwab or my local bank has any limits, but so far I haven't found them. Usually just 10k at a time but I've done 25 and 50k xfers this year, that I can recall.

Specific institutions differ. Some account holders may qualify for larger limits
https://www.mybanktracker.com/news/ach-transfer-limits

 

[Midpack]

I routinely push from Ally to BoA. I have also done push and pull from Ally to VG, and VG to BoA. No problems with push or pull.

 

[jazz4cash]

I used to like Andrews, and used them for a number of years. But they went from my nice list to my naughty list about 5-6 years ago, I forget exactly why. So many formerly good credit unions have gone bad over the years -- it's very sad.

I am looking forward to being done with them. I had two decent sized CDs. They called me for in-person meet before maturity to discuss ‘options for the money’. Silly me thought they were gonna offer some special incentive to keep the funds there. No, it was an annuity pitch. That was the last straw.

 

[audreyh1]

I am looking forward to being done with them. I had two decent sized CDs. They called me for in-person meet before maturity to discuss ‘options for the money’. Silly me thought they were gonna offer some special incentive to keep the funds there. No, it was an annuity pitch. That was the last straw.

So what happens when you try to pull from another institution?

 

[jazz4cash]

So what happens when you try to pull from another institution?

When you click the ‘From’ dropdown it only displays AFCU accounts. External accounts only show up in the ‘To’ dropdown.

 

[audreyh1]

I always initiate the transfer from my brokerage, never from Andrews FCU. That has always worked.

 

[MarieIG]

I pull money into the bank which is receiving the funds. Mine, in any event, do not charge to receive funds.


The brokerages are pretty quick to transfer funds, although sometimes if the amount is a bit larger, it may take a few days to clear.

 

[jazz4cash]

I always initiate the transfer from my brokerage, never from Andrews FCU. That has always worked.

That’s how I’m doing the next one. I’ve submitted my request at Fidelity to request for ‘transfer at maturity’. Moving IRA funds between brokerage and local B&Ms frequently requires intervention.

 

[audreyh1]

I already have a bank link set up to Andrews at Fidelity, and I’ve transferred large amounts in and out. The last large transfer occurred earlier this year when a 7 month special matured. These are taxable accounts.

I’ve usually found that CUs have some very restrictive transfer limits so I never use their transfer interface. I always initiate it from a brokerage.

Moving funds in IRAs requires a rollover I would think.

 

[Car-Guy]

Specific institutions differ. Some account holders may qualify for larger limits
https://www.mybanktracker.com/news/ach-transfer-limits

I've been with Schwab for over 40 years and have kept well over a million there for at least the past decade. Much more today. I've been a customer at my local bank for 15 years and they know me pretty well from the days when I was buying and selling collectable cars all the time. I can't recall any questions/holds/delays or limits with transfers/deposits/withdrawals, going either way in a very long time. Honestly, at this point, if either one were to give me any "flack" on just about anything, I'd drop them like a hot rock.

 

[jollystomper]

... I'm trying to maximize the interest I'm getting on a fairly large sum of money before paying off a credit card bill for a Christmas present. If anyone has some input on this, I would appreciate it..

Thanks for any replies..

I do this with large card balances. Both our B&M institutions (bank and credit union) charge for transfers, so we always push from online accounts.

Our Christmas and holiday shopping CC bills will be due in January. I push from Ally to our credit union so that the funds arrive the day before bill pay needs them. The funds from Ally are in the credit union account the day after the push.