Delays in Funds transfers, bank payments?

[Sapiens]

Is anyone experiencing inordinate delays in the clearing of large funds transfers? Some by two or three days?

[Ann]

Re: Delays in Funds transfers, bank payments?

Is anyone experiencing inordinate delays in the clearing of large funds transfers? Some by two or three days?

No, but what's "large"?

[Rajiv]

Re: Delays in Funds transfers, bank payments?

For the first time when I went to Wells Fargo last week, they were putting in a daily limit of cash withdrawal to $5000

[c1ue]

Re: Delays in Funds transfers, bank payments?

Normally my international wires take no more than 2 days, but the last 2 (in the past 2 months) have a week.

Probably not large in Bank terms - $20K or so.

[zoog]

Re: Delays in Funds transfers, bank payments?

Is anyone experiencing inordinate delays in the clearing of large funds transfers? Some by two or three days?

I wish I had this problem.:rolleyes:

[touchring]

Re: Delays in Funds transfers, bank payments?

My 50k fund with Standard Chartered expired and they took 1 month to send payment.

Looks like the credit crunch has hit the retail banking level. Not a good sign.

[dbbeebs]

Re: Delays in Funds transfers, bank payments?

Hello.

My bank puts some kind of hold, due to homeland security they say,
on any deposit over ten thousand. It took over a week to clear.

My view is that they are enriching themselves on the float.

beebs

[DemonD]

Re: Delays in Funds transfers, bank payments?

Hello.

My bank puts some kind of hold, due to homeland security they say,
on any deposit over ten thousand. It took over a week to clear.

My view is that they are enriching themselves on the float.

beebs

Yup! I had a friend ask me about that. Depending on where the banks are and the amount, it can be up to 7 business days. If the banks are in the same region, with smaller sums of money is 2 day max wait.

As someone else said, problems on retail banking = not good.

[metalman]

Re: Delays in Funds transfers, bank payments?

Hello.

My bank puts some kind of hold, due to homeland security they say,
on any deposit over ten thousand. It took over a week to clear.

My view is that they are enriching themselves on the float.

beebs

welcome, beebs. most states have a 2 day intra bank law. interstate banking is more complicated. but these numbers are starting to sound funky.

[Sapiens]

Re: Delays in Funds transfers, bank payments?

Thank you all for your replies.

One of my business associates is suspecting currency controls quite soon. Make certain your Treasury Direct accounts have a viable correspondent bank.

Cheers,

-Sapiens

[dbarberic]

Re: Delays in Funds transfers, bank payments?

Thank you all for your replies.

One of my business associates is suspecting currency controls quite soon. Make certain your Treasury Direct accounts have a viable correspondent bank.

Cheers,

-Sapiens

How good is your source?

[metalman]

Re: Delays in Funds transfers, bank payments?

Thank you all for your replies.

One of my business associates is suspecting currency controls quite soon. Make certain your Treasury Direct accounts have a viable correspondent bank.

Cheers,

-Sapiens

you don't mean this guy, do you?

Are Currency Controls Coming? If They Are, What Should You Do About It Now, Before They Hit?

gary north and his hand-picked team of fundamentalist Christian, right wing whack jobs.

seriously, this looks more like the real deal...

U.S. Pressures China With Currency Legislation
By Christopher S. Rugaber, AP Business Writer
Manufacturing.Net - July 27, 2007
WASHINGTON (AP) - A Senate panel overwhelmingly approved legislation that would give the United States additional tools to pressure China and other countries accused of manipulating the value of their currencies.

The bill, sponsored by Sens. Max Baucus, a Democrat, and Charles Grassley, a Republican, passed the Senate Finance Committee by a bipartisan vote of 20-1 on Thursday.

The measure would apply ''to any trading partner with (an) out-of-whack currency,'' Grassley said. And because many of the bill's punitive measures don't kick in for six months or a year, ''It's a velvet glove with a steel fist inside,'' he added.

[c1ue]

Re: Delays in Funds transfers, bank payments?

Metalman,

Maybe I'm being dense, but how does a punitive trade action against China equate a US dollar currency control?

For that matter, I would think a specific law would have to pass if the government were to start limiting currency transfers out of the US (I assume in is not a problem).

[metalman]

Re: Delays in Funds transfers, bank payments?

Metalman,

Maybe I'm being dense, but how does a punitive trade action against China equate a US dollar currency control?

For that matter, I would think a specific law would have to pass if the government were to start limiting currency transfers out of the US (I assume in is not a problem).

i'm saying worry about currency controls are alarmist, at least at this point. won't be any. the usa will try to hurt china in other ways first, such as tariffs to punish it for distorting currency prices.

that gives me an idea. maybe this whole game of letting the dollar tank is a way to punish the rest of the world for not ganging up with the usa on china in this currency dispute?

[jk]

Re: Delays in Funds transfers, bank payments?

that gives me an idea. maybe this whole game of letting the dollar tank is a way to punish the rest of the world for not ganging up with the usa on china in this currency dispute?

it's comforting to think the whole great fuck-up is a nefarious scheme instead of just greed and stupidity run rampant