Transfers: What to Expect

Like all banks, we use the  Automated Clearing House  network to process online transfers from one bank to another. Here we’re showing you how it works to give you a better idea of where your money is going and when it’s going to get there.

Standard Transfer

Here’s an example of a schedule for a standard, 3-business-day transfer. The transfer is initiated on Wednesday and sent to the clearing house on Thursday. It isn’t processed during  Federal Reserve holidays  or on  weekends  since clearing houses are closed then. Funds are then debited from the transferring account on Monday and delivered by end of the day Tuesday.

Here’s an example of a schedule for a next-day transfer made from Ally Bank. The transfer is requested Thursday and funds are immediately withdrawn from the Ally Bank account. The clearing house then routes the transfer and delivers the funds to the non-Ally Bank account by end of day Monday. No processing occurred during the Federal Reserve holiday or weekend since clearing houses are closed then. If the transfer had been initiated after 7:30 pm ET, it wouldn’t begin processing until the next business day.