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Why don't I earn interest on my money that transfers ACH for the 3 day hold period?
Why doesn't your money earn interest during the 3 day hold period that it takes to post to your smarty pig account ?
I’m confused?
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Inappropriate?@Emailme Your question was submitted to West Bank, our banking partner, and they provided the following response:
SmartyPig submits ACH transfers via a third-party payment gateway. It
typically takes three business days before we have received these funds.
Once your funds reach SmartyPig, interest begins to accrue. SmartyPig
generates no revenue until funds have cleared into your SmartyPig
account.
Thanks, Tiffany -
Inappropriate?A quick update on this topic.
Effective today, bank ACH transfer times have now been reduced from 3 to 2 business days. Please read more here:
http://blog.smartypig.com/read/reduced-ach-transfer-times
Mike Ferrari, SmartyPig co-founder
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