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What happens to my money for 4 days??

May 24th, 2007 at 07:28 am

I opened an HSBC savings account a few months ago. I am scheduling a transfer for this month, and checked last month's transfer to see for what day I should plan it...

Well, well, I didn't notice but, the money was taken out of my account on April 19, only to be credited in the HSBC one on April 23. That's 4 days of money floating around somewhere. Granted, it was only $25 so I didn't lose a lot of interest, but if I'm not getting the interests, someone else must be...

Just a thought!...

Posted in Savings | 2 Comments »

2 Responses to “What happens to my money for 4 days??”

  1. Aleta Says:
    May 25th, 2007 at 09:42 am

    I'm not crazy about the float time either. With their access to money right away the way they do our bills; we shouldn't have to wait that long. The same thing happened when I switched from HSBC to FNBO. The money came out right away from HSBC and it wasn't credited until 2 days later in FNBO. Yes, the interest rates are higher; but you're losing interest in the interim.

  2. D Says:
    June 10th, 2007 at 11:02 am

    I just posted about my issues here. HSBC takes 6 days to move money from my brick and mortar to their account. This caused me to lose a couple dollars last month, of what I would have made at ING.

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