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I transferred money from our Bank of America checking account to ING Direct then discovered that I had transferred more than I should have. ING Direct had a hold on the deposit for a number of days -- it showed in the account, but not as part of the balance available. So the 2 day process is specific and not general. You can't count on it for all transactions. Also, although ING Direct accepts automated monthly EFT deposits from your checking account, they will not do automated monthly EFT to your checking account. My plan had been to move the RMD from an inherited IRA to ING Direct for monthly dispersal to our checking. Instead, I leave the RMD in the Vanguard IRA, and Vanguard does the automated monthly EFT to our checking. The convenience is worth the small difference in return between Vanguard's Prime Money Market and ING Direct's Savings, and I could choose to have the EFT occur from Vanguard's short-term corporate bond fund.

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