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roach7 · 31 August 2016, 03:08 PM

Hi, needs some advice from the experts in the group... I received an acct-to-acct transfer at my bank Chase as shown... Is this just as safe as a wire transfer? Would you accept this or insist on a wire transfer?

Any advice is greatly appreciated! Thanks

jvmartin · 31 August 2016, 03:12 PM

If you see it in your account and all paperwork sent matches up, I think you're in the clear... if you want to be extra careful wait 1 business to make sure it clears and shows as an account to account transfer.... a direct cash deposit is the only thing I consider as secure as a wire transfer

crowncollection · 31 August 2016, 04:49 PM

Is it cleared ? That's what you need to find out.

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Too Old · 31 August 2016, 06:02 PM

Looks like a straightforward transfer of funds from a savings account.
If the funds weren't in the savings account they wouldn't have credited it to your account.
Best to contact the bank though to check.

Craft&Tailored · 31 August 2016, 06:11 PM

its called chase quick pay... As a dealer and broker and customer of Chase I use this transfer method all the time.. Account to account bank transfers are the easiest and safest form of transfers. You should also see this in your Acct right away...

Hope this helps

roach7 · 31 August 2016, 09:20 PM

This is how it looks like in my acct, looks like it's cleared... so I guess I'm good?

MonBK · 31 August 2016, 09:23 PM

I would call the bank and ask them what kind of payment it is and if it's 100% cleared and can't be reversed later on.

beshannon · 31 August 2016, 09:26 PM

Make sure the deposit is showing as "available" not just deposited.

Knappo 1307 · 31 August 2016, 09:42 PM

Quote:

Originally Posted by MonBK

I would call the bank and ask them what kind of payment it is and if it's 100% cleared and can't be reversed later on.

This ...

roach7 · 31 August 2016, 09:57 PM

That's exactly what I'm going to do as a final confirmation

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MonBK · 31 August 2016, 10:02 PM

Quote:

Originally Posted by beshannon

Make sure the deposit is showing as "available" not just deposited.

available is unfortunately not enough as it can be reversed.

beshannon · 1 September 2016, 12:05 AM

Quote:

Originally Posted by MonBK

available is unfortunately not enough as it can be reversed.

True.

However, many people assume that because it shows in a balance then it is available. Many banks give provisional credit showing that the funds are there but not yet collected. It should show available after the bank has collected it.

roach7 · 1 September 2016, 12:39 AM

Quote:

Originally Posted by MonBK

available is unfortunately not enough as it can be reversed.

That's exactly what happened to me with Citibank. They told me payment was good after waiting 2 weeks then the check bounced after 1 month... Had to sue Citibank but only got half the money back... hard lesson learned.

waQstar · 1 September 2016, 01:56 AM

Quote:

Originally Posted by Craft&Tailored

its called chase quick pay... As a dealer and broker and customer of Chase I use this transfer method all the time.. Account to account bank transfers are the easiest and safest form of transfers. You should also see this in your Acct right away...

Hope this helps

If I may, this is not Chase Quick Pay, Chase Quick Pay has dollar amount limitations and is done on the user end by the user himself, this was a teller transfer done in person at the bank and has no true limitations on the amount.

Craft&Tailored · 1 September 2016, 03:02 AM

Quote:

Originally Posted by waQstar

If I may, this is not Chase Quick Pay, Chase Quick Pay has dollar amount limitations and is done on the user end by the user himself, this was a teller transfer done in person at the bank and has no true limitations on the amount.

ah my confusion, you are right!

Craft&Tailored · 1 September 2016, 03:03 AM

Transfer within the same banking institution should be immediate though right? I wold just call and ask the bank.

Mosco · 1 September 2016, 05:25 AM

Call bank, don't take any chances

GLADIATOR · 1 September 2016, 05:36 AM

Quote:

Originally Posted by Mosco

Call bank, don't take any chances

Call bank -->withdraw the cash - belt and braces!

31 August 2016, 04:49 PM	#3
crowncollection "TRF" Member Join Date: Jan 2011 Real Name: David Location: australia Posts: 20,157	Is it cleared ? That's what you need to find out. Sent from my iPhone using Tapatalk __________________ watches many

31 August 2016, 09:26 PM	#8
beshannon "TRF" Member Join Date: Jun 2009 Real Name: Brian Location: Northern Virginia Watch: One of Not Many Posts: 17,895	Make sure the deposit is showing as "available" not just deposited. __________________ Vacheron Constantin Traditionnelle Complete Calendar, Glashutte PanoInverse, Glashutte SeaQ Panorama Date, Omega Aqua Terra 150, Omega CK 859, Omega Speedmaster 3861 Moonwatch, Glashutte Senator Exellence, Rolex 116710 GMT Master II BLNR, Breitling Superocean Steelfish, JLC Atmos Transparent

1 September 2016, 05:25 AM	#17
Mosco "TRF" Member Join Date: Dec 2008 Real Name: Greg Location: Cincinnati Watch: I like to... Posts: 18,567	Call bank, don't take any chances __________________ Instagram - @CaliberSwiss *“A man who procrastinates in his choosing will inevitably have his choice made for him by circumstance.” - Hunter S. Thompson*

31 August 2016, 03:12 PM	#2
jvmartin "TRF" Member Join Date: Feb 2014 Location: Los Angeles Posts: 2,349	If you see it in your account and all paperwork sent matches up, I think you're in the clear... if you want to be extra careful wait 1 business to make sure it clears and shows as an account to account transfer.... a direct cash deposit is the only thing I consider as secure as a wire transfer

31 August 2016, 06:02 PM	#4
Too Old 2024 ROLEX DATEJUST41 Pledge Member Join Date: Apr 2010 Real Name: Brian Location: Bucks, UK Posts: 1,087	Looks like a straightforward transfer of funds from a savings account. If the funds weren't in the savings account they wouldn't have credited it to your account. Best to contact the bank though to check.

31 August 2016, 06:11 PM	#5
Craft&Tailored "TRF" Member Join Date: Feb 2016 Location: Los Angeles, CA Posts: 6,254	its called chase quick pay... As a dealer and broker and customer of Chase I use this transfer method all the time.. Account to account bank transfers are the easiest and safest form of transfers. You should also see this in your Acct right away... Hope this helps

31 August 2016, 09:23 PM	#7
MonBK Banned Join Date: Nov 2010 Location: Kingstown Posts: 58,281	I would call the bank and ask them what kind of payment it is and if it's 100% cleared and can't be reversed later on.

31 August 2016, 09:57 PM	#10
roach7 "TRF" Member Join Date: Jun 2007 Real Name: henry Location: nyc Watch: 16610lv Posts: 1,829	That's exactly what I'm going to do as a final confirmation Sent from my SM-G935V using Tapatalk

1 September 2016, 03:03 AM	#16
Craft&Tailored "TRF" Member Join Date: Feb 2016 Location: Los Angeles, CA Posts: 6,254	Transfer within the same banking institution should be immediate though right? I wold just call and ask the bank.

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