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by Qworg
2629 days ago
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Wires are required at times because they're "good funds" faster - ACH may take up to 6 days to clear in bad cases. Also, wires can't be reversed (generally). If that's a good or a bad thing is dependent on the transaction and transactors. |
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Big banks will have the money next business day at the latest, Tiny correspondent banks in alaska might be as far behind as an extra day or two.
There's a class of return that's supposed to come within 3 days, (NSF/No Account/Closed Account) that's usually what the banks are waiting for, but fraud related returns can be up to 60 calendars later by the rules.