Zecco.com » General Investing » New Investors » How long does it take for a wire tr...
Last post 03-28-2008, 7:36 PM by Virtruvius. 5 replies.
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  •  03-27-2008, 4:56 PM 25846

    How long does it take for a wire transfer?

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    How long does it usually take to transfer money via wire transfer?

    Also, yaay! My first post!
  •  03-27-2008, 5:02 PM 25848 in reply to 25846

    Re: How long...

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    Hello new dude or dudette....I'm pretty new here myself.  I funded my account by wire transfer a few weeks ago.  I did leg work to bank on a Thursday and it was in my trading account that Saturday, I really think it would have been sooner if I had did my business in the morning instead of the afternoon.  Good luck in future trading and welcome to the neighborhood.
  •  03-27-2008, 5:04 PM 25849 in reply to 25848

    Re: How long...

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    Wow, thanks for the reply. Also I'm a dude, but nice touch on the dudette part. I sense a very strong aura of welcoming here. Seems like a nice community.
  •  03-27-2008, 5:20 PM 25852 in reply to 25846

    Re: How long does it take for a wire transfer?

    Reply Quote

    There are several different factors which affect the amount of time it takes to wire money.  The following are a few of these factors:

    The time of day you initiate the process.  As a previous poster pointed out, if you start in the afternoon you may not get your wire done that day.

    The bank you do business with.  Not all banks are on the wire.  Smaller banks wire through their correspondent which can add time to the process.

    Which way the money is being wired.  If you wire money from east to west it will be received at an earlier time on the west coast possibly increasing the chance it will be credited that day.  From west to east is just the opposite.

    The competency of the participants in the process.  One time I asked for a wire and the mutual fund company simply forgot to wire it.  They offered their apologies and wired it a day late.

    The receiving bank's ability to credit the recipient's account without losing a day in the process.

    As you can see there is no fixed answer.  However, generally, you can get money wired and properly credited the same day or worst case the next day.  You would think because large sums of money are involved and these people do this for a living this process would work like a well oiled machine.  My experience has been that the well oiled machine is more like a Yugo.

    Welcome to the forums.  Best of luck to you in your investing.

  •  03-27-2008, 5:32 PM 25853 in reply to 25852

    Re: How long does it take for a wire transfer?

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    XD Thanks for the more detailed process explanation Uncle Billy. I agree with you that it does take a bit too long since it is all done electronically after all.


    Edit: I'm not sure if I should start a new topic for this but as long as someone is reading this and can respond:

    What are the fees associated with penny stocks here on Zecco?
  •  03-28-2008, 7:36 PM 25943 in reply to 25853

    Re: How long does it take for a wire transfer?

    Reply Quote
    sigh* Okay well I wired the money on Tuesday, now it's Friday, and still nothing. Do I have to take some special steps after the wiring? If the money had arrived it would show up when I click on: "Trading"=>"Trading Center", right? Right now it shows a balance of $0.00

    :/


    Edit: Okay, well now it's Saturday and still no money...I'm beginning to wonder if I should have just gone with ACH altogether...it seems that Suntrust and wire transfering do not go well together.
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