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rated:
I have an account at PNC Bank and I received a wire today into my account. I wanted to funds transferred to another institution for investing purposes, but the branch refused saying I must wait 1 day to wire those funds even though the funds showed "available" in my account and even though their FUNDS AVAILABILITY POLICY states funds from wire transfers are available the same business day.

I've been with PNC for over a year now and have never had instances of NSF or negative balance and have stellar credit. I was under the impression that wire is the ultimate form of transfer and the funds guaranteed by the sending bank, verified by the fed & instantly available for withdrawal by the recipient once credited to the account. Is this not the case? Slightly annoyed at a wasted trip to the bank and also curious.

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rated:
I don't know what to say, other than to complain to their regulator if you think they're wrong. At least do the paperwork for the wire while you're there and let them send it tomorrow.

Wires in personal accounts definitely make banks nervous.

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TravelerMSY said:   
Wires in personal accounts definitely make banks nervous.

  
Why? Sounds counter-intuitive. Wire is probably the most secure way to move money within our banking system. Would they rather I use check (which can be returned), ACH (which can be reversed), credit cards (susceptible to chargebacks) or cash (could be counterfeit/unreported) ?

I doubt there's an point in complaining since we can't go back in time and force the back to allow me to use the funds on the date of deposit and I can't prove I was harmed. So I'm just curious at this point...

rated:
Can only say that about 9 months ago I sent a wire from PNC bank (my personal account) to a credit union (my personal account) in a neighboring state - same day, no problems.  FYI, both accounts had been open for at least a couple years.

Common issues I've heard about are: missing the daily cutoff time for same-day service (when I called my PNC bank that morning they told me they had a cutoff - maybe 1PM?  Can't recall now for certain), sometimes differences in the way ownership is set up on the two accounts can flummox banks, etc.  And rules for non-domestic wires may be different - their prices certainly are.

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fw9999 said:   Can only say that about 9 months ago I sent a wire from PNC bank (my personal account) to a credit union (my personal account) in a neighboring state - same day, no problems.  FYI, both accounts had been open for at least a couple years.

Common issues I've heard about are: missing the daily cutoff time for same-day service (when I called my PNC bank that morning they told me they had a cutoff - maybe 1PM?  Can't recall now for certain), sometimes differences in the way ownership is set up on the two accounts can flummox banks, etc.  And rules for non-domestic wires may be different - their prices certainly are.

  
Thanks. I was well within the cutoff time actually and everything was domestic. The funds even showed as "available" when I logged into my account. It's just that the branch flat out refused to let me wire those funds until tomorrow.

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If you were charged an incoming wire fee I'd have them remove it.

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