Comments on: HSBC Transfer Time http://www.mynewchoice.com/2007/02/09/hsbc-transfer-time/ Debt free, financially independent and retired early Sun, 31 Jan 2010 22:17:54 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Rob http://www.mynewchoice.com/2007/02/09/hsbc-transfer-time/comment-page-1/#comment-62618 Rob Fri, 03 Oct 2008 02:17:24 +0000 http://www.mynewchoice.com/2007/02/09/hsbc-transfer-time/#comment-62618 I had a problem with HSBC and a transfer I made. They canceled the transfer and locked me out of my account because they said why did I deposit and withdraw funds within a week. A red flag went up for them. Both my checking accounts were valid, verified by trial deposits. I was asked to submit the statement from the bank it came from. My funds at HSBC were "balance available". I believe the security is overkill, now an inconvenience me to, I am closing my account. I was told the funds have to get back in, probably 3 business days, I said they never left??? I had a problem with HSBC and a transfer I made. They canceled the transfer and locked me out of my account because they said why did I deposit and withdraw funds within a week. A red flag went up for them. Both my checking accounts were valid, verified by trial deposits. I was asked to submit the statement from the bank it came from. My funds at HSBC were “balance available”. I believe the security is overkill, now an inconvenience me to, I am closing my account. I was told the funds have to get back in, probably 3 business days, I said they never left???

]]> By: Jamie http://www.mynewchoice.com/2007/02/09/hsbc-transfer-time/comment-page-1/#comment-53629 Jamie Fri, 22 Aug 2008 14:49:08 +0000 http://www.mynewchoice.com/2007/02/09/hsbc-transfer-time/#comment-53629 This is horrible slow. I had a transfer that I initiated on Tuesday. The money was removed from my local bank on Wednesday and I revieved an email on Friday morning stating that the funds had been removed from my local account , but they would take another day to post into HSBC. I understand that with the transaction volume they see realtime may not be possible, but nightly batch processing should handle the task in two days. There is no excuse for a 4-5 day delay. This is horrible slow. I had a transfer that I initiated on Tuesday. The money was removed from my local bank on Wednesday and I revieved an email on Friday morning stating that the funds had been removed from my local account , but they would take another day to post into HSBC. I understand that with the transaction volume they see realtime may not be possible, but nightly batch processing should handle the task in two days. There is no excuse for a 4-5 day delay.

]]> By: Mike http://www.mynewchoice.com/2007/02/09/hsbc-transfer-time/comment-page-1/#comment-38789 Mike Tue, 08 Apr 2008 10:35:38 +0000 http://www.mynewchoice.com/2007/02/09/hsbc-transfer-time/#comment-38789 I just noticed this-I'm an HSBC cutomer, and am still waiting to receive funds I transferred from the US last Wednesday-now it's Tuesday. Terribly slow. Otherwise I like HSBC. I just noticed this-I’m an HSBC cutomer, and am still waiting to receive funds I transferred from the US last Wednesday-now it’s Tuesday. Terribly slow. Otherwise I like HSBC.

]]> By: mnc http://www.mynewchoice.com/2007/02/09/hsbc-transfer-time/comment-page-1/#comment-680 mnc Wed, 14 Feb 2007 21:57:17 +0000 http://www.mynewchoice.com/2007/02/09/hsbc-transfer-time/#comment-680 @Manish: Thanks for the reply! It is good to know that CashEdge does not sit on the transfer as I had read in other places. However, I do still stand by my comment that the transfers are taking longer between my bank and HSBC than they did between my bank and ING. Thanks for the link to the NACHA guidelines and for responding! @Manish: Thanks for the reply! It is good to know that CashEdge does not sit on the transfer as I had read in other places. However, I do still stand by my comment that the transfers are taking longer between my bank and HSBC than they did between my bank and ING.

Thanks for the link to the NACHA guidelines and for responding!

]]> By: Manish Vrishaketu http://www.mynewchoice.com/2007/02/09/hsbc-transfer-time/comment-page-1/#comment-677 Manish Vrishaketu Wed, 14 Feb 2007 19:01:48 +0000 http://www.mynewchoice.com/2007/02/09/hsbc-transfer-time/#comment-677 I work for CashEdge and am responding to your question about whether or not CashEdge “sits on the transfers a little longer than others to squeeze out that little bit of extra money.” CashEdge uses standard ACH guidelines to transfer money from one account to another. We do not take make any income, interest or otherwise, off of the funds we transfer. We make our money from our financial institution clients for the services we provide them. You can read more about NACHA guidelines here: http://nacha.org/ACH_Rules/ach_rules.htm I work for CashEdge and am responding to your question about whether or not CashEdge “sits on the transfers a little longer than others to squeeze out that little bit of extra money.” CashEdge uses standard ACH guidelines to transfer money from one account to another. We do not take make any income, interest or otherwise, off of the funds we transfer. We make our money from our financial institution clients for the services we provide them. You can read more about NACHA guidelines here: http://nacha.org/ACH_Rules/ach_rules.htm

]]> By: My New Choice http://www.mynewchoice.com/2007/02/09/hsbc-transfer-time/comment-page-1/#comment-635 My New Choice Sat, 10 Feb 2007 15:19:13 +0000 http://www.mynewchoice.com/2007/02/09/hsbc-transfer-time/#comment-635 Thanks, I was contacted by John late last night and need to get a post up about winning the prize! Thanks, I was contacted by John late last night and need to get a post up about winning the prize!

]]> By: More Merchant http://www.mynewchoice.com/2007/02/09/hsbc-transfer-time/comment-page-1/#comment-634 More Merchant Sat, 10 Feb 2007 09:31:36 +0000 http://www.mynewchoice.com/2007/02/09/hsbc-transfer-time/#comment-634 Congrats on winning the John Chow contest!! Congrats on winning the John Chow contest!!

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