In bound ACH takes 2 business days for me.
Largest ACH i've done was $4K.

DaveHanson said:BigBucksNoWhammy, have you had any experiences similar to Bill777 with slow ACH transfers?

What's the dollar limit on ACH in/out?

Sorry bout the delay, this thread fell off my radar for some reason.

The longest I've ever seen a transfer to complete has been 3 days, and that is when requesting it on a Friday afternoon, which it then hits on Monday.

The largest I have transferred out was $20k to Emigrant Direct, and the largest I have transferred in was $24.5k from linked checking. I am not aware of any limitation on dollar amounts to move in or out, but that is not to say that there is not one. You can call and ask: 1.866.246.2265 (before 5pm EST)


I did pull a grand from UFB (for that 4.35% CD) and it took a couple days for the funds to be "available" with GMAC after they arrived, but I think that has something to do with the verification process with UFB. The grand showed up in my GMAC account on the 11th, but UFB didn't show it finally debited from that account (UFB) until today!

With GMAC's recent bump to 3.45% APY on I think they are closely competitive to Emigrant. Their one year CD is 4.35% APY (for a mere $500 minimum - which makes laddering a snap) is not as bad deal either.

About the only complaint I have with GMAC is that I seem unable to move funds from the savings directly into a CD. I've always have had to draw the funds from linked checking for the CDs. I see no reason why a CSR wouldn't be able to hook me up, but they're not open when I'm messing with it.


I have a couple quesitons about the ACH in/out at GMAC:
[1] From what I read, there shoud be no fees when initialize the ACH in/out at GMAC. Is there any fees when the ACH out initialized from other bank, lik USAA?
[2] What is the limit ACH in/out per day per account?

1) Don't know for sure, but doubt there would be. Why bother anyway, Pushing from GMAC is a breeze.
2) Also don't have a definitive answer, but see above.

hellotheworld said:Another question, when I want to open a CD, can I fund with GMAC MMA? After the CD mature, how I can withdraw? They send out check or they can deposite to your GMAC MMA or other checking account?


They let you fund CDs three ways: 1) Electronic transfer (ACH from checking) 2) Wire transfer or 4) Mail it with deposit slip they'll send.

See my last post about funding from GMAC MMA. Haven't been able to yet, but seems really strange and I bet if I were to call they would do it over the phone . . .

As for how it works once the CDs mature, you get a notification in the mail and if you don't reply with instructions after so many days, they reinvest the principle and interest in another CD at the then current rate. I haven't actually had a CD with them mature yet but I will have one come due in November. I'll report back then with the details if no one else chimes in on the subject in the meanwhile.

I just opened a 6mth CD (3.87% APR... 3.95 APY). Rates are still going up so 6mth is more than enough til the next higher raise, imo.

GMAC's ease of ACH usage between their accounts & my local banking institution... just like ING & VirtualBank (plus, VB's $20-$600 in Referrals aren't bad either )

opened GMAC insured saving, 6mo CD and 12mo CD recently, want to share experience.

8/22/05 open accounts in the morning, funded in the afternoon via ACH pull from my local saving account

8/23/05 transfer posted as 1:21AM at GMAC

8/24/05 funds withdraw posted at my local bank

8/25/05 funds avaiable at GMAC, also recieved welcome package and signature card. But the YTD Interest is still $0.00 in all three accounts, though they said interest compounded daily.I have not got check card yet.

8/30/05 received two books of check with total 50

9/1/05 received check card, activated using the PIN that received several days ago

9/16/05 interest posted in the Insured Saving, my first statement date was 9/15. Interests for CDs are still $0.00.

9/18/05 received my first statement, the interests of CDs are listed in the statement.

FYI
I happened to open my account on the 4th of a month and get statements posting interest on the 25th.

I called them once and on hold for about 10 mins. not too bad. the cs rep. was really nice.
In their welcome kit, they say there will be 50 free initial checks. I did not receive it yet. I guess maybe we need to call.

scrimper said:hellotheworld said:I called them once and on hold for about 10 mins. not too bad. the cs rep. was really nice.
In their welcome kit, they say there will be 50 free initial checks. I did not receive it yet. I guess maybe we need to call.

Ok, thanks. How long ago did you open your account ? Are you satisfied with GMAC so far other than no checks yet ?

Opps, I am sorry, I see you answered all that in an earlier post. Thanks again.

can not believe that GMAC lower their CD rates this month. I was thinking to pour more money into the CDs but...

MM rates now at 4% to compete against ED.

CD Rates (APY):
3 months 4.20%
6 months 4.35%
9 months 4.40%
12 months 4.70%
18 months 4.75%
2 years 4.80%
3 years 4.85%
4 years 4.90%
5 years 5.00%