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Update: I set up HSBC to link the new Emigrant account numbers on Friday, 7/28. The confirmation deposits showed up before 8:30 am on Monday, 7/31. Apparently HSBC can transfer fast when they want to.

Yes, they can. The transfer happens immediately. The problem is that the bank that initiates the transfer never gets any acknowledgement unless it fails. And a failure acknowledgement may take several days to be received (or even several months if someone really screws up).

HSBC choses to deal with this by not acknowledging the transfer for 3 days. Most other place acknowledge it, but just put a hold on the money for 3 to 10 days.

Anyway, the system is screwed up, and HSBC's response to it is screwed up as well.


Btw, you think that was quick? I did it yesterday (Sunday) and see my test deposits in Emigrant today already too. :)


After this completes, I'll test the other direction.

Hmmm, do you know something I don't? Or is it the other way around?

According to the new Emigrant site, you can only link to checking accounts, because you need to send them a voided check in order to fully process the adding of an external account. This wouldn't be doable for an HSBC Direct savings account. So you wouldn't be able to do an Emigrant/HSBC transfer at Emigrant.

Is there some way around this?
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