Loading…
22
The $12 fee that made me a believer in instant transfers
I used to think same-day ACH was a gimmick for people who can't plan ahead. Then last Tuesday my landlord in Portland told me rent was due by 5pm or he'd hit me with a $75 late charge, and my bank's standard transfer would take 2 business days. I paid the $12 instant fee without thinking, and the money landed in his account before I even hung up the phone. What changed my mind wasn't the speed itself, it was watching that pending payment clear while I was still sitting in my car outside his office. I spent the next hour checking my own account history and realized I've lost over $200 in the past year to overdraft fees from slow transfers. That single $12 charge saved me $63 in penalties, so the math hit me right in the wallet. Has anyone else done the math on what slow bank transfers are actually costing them per year?
0 comments
Log in to join the discussion
Log In0 Comments
No comments yet
Be the first to share your thoughts on this discussion.