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URL:  http://boards.fool.com/mike-iirc-the-hold-ing-direct-placed-on-the-eft-21903764.aspx

Subject:  Re: Rollover 401(k) to Roth IRA? Date:  1/13/2005  1:15 PM
Author:  iamdb Number:  44021 of 75338

Mike,

IIRC, the hold ING Direct placed on the EFT deposit from our Bank of America was 5 business days. The rationale was that that's the way they've always done it -- you can't expect a pony and rider to travel with the speed of electricity, can you? I don't know if interest is being credited during the holding period, but I do know the funds are in limbo. I've moved our money from ING Direct, but have not closed the accounts.

db
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