asking for Abby
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Schwab credits EFT same day and is larger
Fidelity grew too big too fast and can’t keep up with the increase in volume.
I don't blame clients for leaving the firm over it, it makes us look incompetent and shady.
Banks were always able to put a two week hold on checks for any amount over $500 I think. Don’t quote me on that amount, I’m not a banker, it may have been $1000. But there are other factors in check clearing you are also unaware of. Banks don’t always report if a check was cashed twice, within the 4 business days. That’s also fraud by the customer
There’s been so much fraud in the industry that adding a week might actually have benefited the US government. So no, no fraud.
there is notice in the app about extended times for eft/checks.
blame the scammers. they force banks to add all these extra security steps which add delays.