Limits Fees Unwithdrawn
Bank/FI # Linked Min Max Out In Trial Dep Days Notes
Bank of America ? $10 ? $3 $0 Y ?
Charles Schwab - $0 ? $0 $0 Y ?
Chase ? $0 ? $3 $0 N ?
GMAC - $0 ? $0 $0 Y 1
ING Direct ? $0 ? $0 $0 Y ?
Key Bank - ? ? $0 $0 Y ?
M&T - $0 ? $0 $0 Y ?
PayPal ? $0 ? $0 $0 Y ? $25 min for recurring transfers
TD Ameritrade 5 $0 ? $0 $0 ? ?
Wachovia ? $10 ? $3 $0 N ?
WaMu 5 $1 ? $0 $0 N ?
Message edited by: SegaRob on 2009-04-28 21:11:08 CDT
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Column explanations: Debit days: how long it takes for funds to be debited from source account Post days: how long it takes for funds to be credited to destination account (These are both measured from the day the transfer is initiated. Unless otherwise specified, this is measured in business days, meaning a transfer over a weekend will take two days longer.) Keep trial deposit: Do you get to keep money deposited when you establish a linked account? Y=yes, N=deposits are withdrawn back, N/A means no trial deposit.
Outgoing Incoming Keep
Limits Debit Post Debit Post Trial
Bank/FI # Linked Min Max Fee Days Days Fee Days Days Dep Notes
Alliant Credit Union ? $0 $10k $0 0 2 $0 2 2 N
Ally ? $0 ? $0 0 2 $0 2 1 Y $10 fee after 1st 6
American_Express ? $1 $250K $0 0 1 $0 1 0 ?
Bank of America ? $10 ? $3 ? ? $0 ? ? Y Can be approved for overnight
Bank of the West ? N
BECU ? $0 $2000 $0 1 3 $0 ? ? Y $2000 daily limit per account, $5000 monthly
Chase ? $0 $10k? $3 ? ? $0 ? ? N
Citibank - $10 ? $0 ? 3 $0 ? 3 Y
CNBBankDirect 1 ? $1MM $0 2 2 $0 2 2 N
Coulee - $0 N/A $0 1 1 $0 1 1 N/A No online interface
CountryWide ? $50 ? $0 ? ? $0 ? ? Y
E*Trade 50 $0 $100k $0 ? ? $0 ? ? Y External accts remain in system even when deleted
EverBank 99 $0 $15K $0 1 5 $0 ? ? N
Fidelity Investments ? $10 $100K $0 0 1 $0 1 0 N/A Can invest immediately, but doesn't sweep to MMF until next day
Flagstar ? ? $2k $0 1 3 $0 ? ? ? Daily limit inbound 2k; outbound 15K; monthly limit inbound 5k; outbound 25K
HSBC ? $10 $100k $0 ? ? $0 ? ? N
ING Direct 3 $0 ? $0 ? ? $0 ? ? Y
Key Bank - $1 ? $0 ? ? $0 ? ? N
M&T - $0 ? $0 ? ? $0 ? ? Y
OnBank ? $0 $20k $0 ? ? $0 ? ? N
Options Express ? $0 ? $0 0 1 $0 ? ? N No recurring tx option
PayPal ? $0 ? $0 ? ? $0 ? ? Y $25 min for recurring
PenFed ? $0 ? $0 0 2 $0 0 2 Y
PNC ? $0 $2000 $0 ? ? $0 ? ? N $2000 daily limit per account, $5000 monthly
ProvidentNJDirect ? $0 ? $0 ? ? $0 1 1 N
Schwab Brokerage - $1 $100K $0 ? ? $0 ? ? Y Call for recurring tx, limit 1 recurring tx per linked account
TD Ameritrade 5 $0 ? $0 ? ? $0 ? ? N Max frequency is bi-weekly
USAA ? $1 ? $0 ? ? $0 ? ? Y
Wachovia ? $10 ? $3 ? ? $0 ? ? N
WaMu 5 $1 ? $0 ? ? $0 ? ? N External accts remain in system even when deleted
Message edited by: mh83 on 2009-10-31 16:48:10 CDT
ThePessimist said:If someone does assemble a list, it'd be great if it also listed how long it takes to do push and pull for each bank. Agreed. That's the most important info for me actually.
I also would suggest putting the list in the Quick Summary so it can be updated.
I'm not sure why you need a 'account type' column. For example, Wachovia's checking and savings both offer the same ACH services except for the restrictions that apply to all savings accounts regarding number of transactions per month.
beethovengirl said:ThePessimist said:If someone does assemble a list, it'd be great if it also listed how long it takes to do push and pull for each bank. Agreed. That's the most important info for me actually.
I also would suggest putting the list in the Quick Summary so it can be updated.
sushiosushi said:I'm not sure why you need a 'account type' column. For example, Wachovia's checking and savings both offer the same ACH services except for the restrictions that apply to all savings accounts regarding number of transactions per month.Well, there are differences in some cases. Chase for instance has fee-free transfers for their Premier Platinum accounts, but there's a $3 fee for the basic account. Would you prefer to leave out the account type and have people annotate in the "Notes" column?
I'm happy to put the table in the QuickSummary and I'm open to suggestions about what columns of info to add. It'd be great if people could fill in info for whatever they know. Let's finalize the organization and then I'll copy the table to the QS.
NorthStar2020 said:Citibank is also pretty liberal. 0 in, 0 out for transfers and no minimum required to maintain.The "minimum amount" is minimum amount required to transfer, not to maintain the account.
ANightShopper said:For the trial deposits please indicate if pulled back. That's what "unwithdrawn" means (or the opposite of pulled back). Some banks don't even have trial deposits, so I put it as unwithdrawn for banks that do trial deposits and don't withdraw them.
We need definitions of each metric so that values will be accurate and comparisons may be made. For example, the "days" column is ambiguous. It could be used to either denote the number of days of lost interest, the number of days before the transfered funds are available at the destination bank, or the number of days between placing a transfer request and receiving the funds in the destination account. Each of these would yield different numbers. Here are some examples: CNBBankDirect will not allow you to complete a same-day transfer, but the funds arrive in the destination account the same day they are withdrawn from the source account, so there is no lost interest. I've listed this as 0 in the chart but if your definition is time between scheduling the transfer and receiving the funds, that would be inaccurate. Similarly, WaMu only offers transfers on certain days of the week, which means it may be 2-3 days between the time the transfer is scheduled and initiated.
mttatkns said:We need definitions of each metric so that values will be accurate and comparisons may be made. For example, the "days" column is ambiguous. It could be used to either denote the number of days of lost interest, the number of days before the transfered funds are available at the destination bank, or the number of days between placing a transfer request and receiving the funds in the destination account. Each of these would yield different numbers. Here are some examples: CNBBankDirect will not allow you to complete a same-day transfer, but the funds arrive in the destination account the same day they are withdrawn from the source account, so there is no lost interest. I've listed this as 0 in the chart but if your definition is time between scheduling the transfer and receiving the funds, that would be inaccurate. Similarly, WaMu only offers transfers on certain days of the week, which means it may be 2-3 days between the time the transfer is scheduled and initiated.Good point. What should we do? Some banks say they take 3 business days but they debit on day 1 and deposit on day 3. How many days is that? How should we clarify this?
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