Who is using my money

queenaleta
Contributor
Contributor

Is the bank using my money during the 3 to 4 day transfer?

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3 REPLIES 3

kernowlass
Esteemed Advisor
Esteemed Advisor

No one is using it. Paypal use electronic transfer.

 

http://www.ehow.com/info_8537474_difference-wire-t​ransfer-electronic-transfer.html

Speed •

Because processing electronic fund transfers involves a third party in the automated clearing house -- which processes the transactions overnight -- the time it takes to complete this type of transfer is generally between one and four business days.

Since one bank completes a wire transfer by dealing with another bank directly, wire transfers occur faster than electronic fund transfers. Often, banks complete wire transfers in real time, making funds available to a receiver within minutes or hours of a person beginning the transaction.

 

 


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queenaleta
Contributor
Contributor
Moneygram transfers money instantly (for a fee). So why can't paypal do the same?
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kernowlass
Esteemed Advisor
Esteemed Advisor

No idea, ask them.


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