Funds availability for deposited checks. Is anyone worse than IB?

[newwurldmn]

Military commissaries are the worst for that! It's funny because I think most of them use checks because they think debit cards aren't "secure", but don't realize that their bank account number and routing number are printed in plain sight on the front of every check!

And in stores they require you to put your drivers license number on the front.

 

[eastern_warrior]

Less fraud equal lower fees. Works for me. But your 44 comment was not my experience so I looked it up.
it is 4 days if sending back to the same back in which you sent funds. I just pulled this from the IB website
"Only available for US currency deposits from an account held in your name at a US bank that allows ACH deposits. Funds may be withdrawn after the four day credit hold.

If funds are withdrawn to a bank other than the originating bank via ACH, a 44-business-day withdrawal hold period will be applied."

 

[Sig]

Less fraud equal lower fees. Works for me. But your 44 comment was not my experience so I looked it up.
it is 4 days if sending back to the same back in which you sent funds. I just pulled this from the IB website
"Only available for US currency deposits from an account held in your name at a US bank that allows ACH deposits. Funds may be withdrawn after the four day credit hold.

If funds are withdrawn to a bank other than the originating bank via ACH, a 44-business-day withdrawal hold period will be applied."

That's a welcome change, maybe they listened to my rants after all! It could also be that they just don't follow their own published guidance (https://www.reddit.com/r/investing/comments/4rvc8g/interactive_brokers_40_days_hold_on_ach_funds/), wouldn't be the first time they abdicate all responsibility to "the algorithm" that seems to control everything at IB.

 

[speedo]

I recently deposited a 6-figure amount to a Fideltiy trading account. Was reflected in my account "next day". Not sure what went on overnight to verify funds...

"Overnight clearing" of funds between banks is most common these days. Requiring "10 days to clear" benefits someone, but not you.

10 days of commission revenue can far outweigh interest on float.