Discover’s transfers are not slow after there is a history, but they put holds on ACH pulls. Those holds range from 1 - 3 days, and I haven’t figured out their methodology for calculating the hold. To be fair, I haven’t really tried to figure it out.
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That $5k limit is really too bad. Otherwise I think that would be a good match for my needs.
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Data point: I initiated a pull from Fidelity on 3/23 around 9pm PT. The money was out of my Alliant account around noon PT on 3/24 and the money is fully available at Fidelity on 3/25. Given the 9pm request, this is next-day.
I am going to try a transfer this morning to see if it goes through tomorrow. If it does… then this is perfect for me.
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I imagine most of us would need at least the 30 linked accts (like you have at Alliant) before there would be a real interest in changing hub accts.
I think Fidelity CMA might work for me also. How many linked accts will Fidelity allow?
Dollar amount might matter, too. They may release a few hundred dollars, but hold a $20k transfer. Or some kind of aggrigate limit that prompts the hold some have mentioned.
Yes I think my transfers were 5k plus that were held. I don’t remember exactly how much. It would be welcome news if they’ve changed things and what @sullim4 has experienced is an across the board new normal for them with ACH transfers. At a minimum, it sounds like they’ve transitioned to next day ACH now.
The transfer was $2500.
I can play around with larger transfers. I do know that I’ve transferred tens of thousands via a push, and that works without a problem, but we know that already.
I’ve been meaning to invest some cash that’s been sitting in my Alliant savings anyway. I’ll try a 25k transfer in a few days.
I currently have 15 ACH links in my Fidelity account. I don’t believe there is a limit.
However, linking a bank to Fidelity is not as simple as Alliant. Most of the time, I am required to upload a statement or a check or deposit slip as proof of account ownership. And it take a few days for Fidelity to activate the link.
From my past experience, Fidelity puts a few days hold on a pull. But I haven’t tried that recently.
Fidelity does same-day ACH now (for amounts less than $100k). The following is my experience.
If you submit before 8am ET, the transfer is completed by 1pm ET.
If you submit before 12pm ET, the transfer is completed before end of business, same day.
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I have not received a message, letter or anything from Alliant CU.
I assume my accounts with Alliant are safe. I made 3 ACH transfers this morning.
To make a change of hub accounts would be a big headache, but I have started checking.
So until I get that letter, I’ll hang tight.
S
There has been a development, over on Ken’s website, regarding the “we’re kicking you out of Alliant” thing from last month.
A poster over there named “wayward” has posted as follows:
On behalf of a member I filed a complaint with all the recommended agencies as well as writing to Alliant, who responded:
In accordance with the Illinois Credit Union Act (the Act), 205 ILCS 305/19(1), an annual meeting must be held in January, February, or March. Alliant’s 2021 annual meeting was conducted in accordance with the Act on February 25, 2021 and met all notification requirements.
Alliant’s annual meeting included the issue of membership expulsion. With regard to termination of membership, Section 22 of Alliant’s Account Agreement & Disclosures states, “we may terminate your account(s), with or without cause, at any time without notice and/or explanation if there has been any misrepresentation or any other abuse of any of your accounts; or we reasonably deem it necessary to prevent a loss to us.”
In accordance with Illinois law, a vote was taken to expel certain members. The motion passed unanimously.
As mentioned in the notice dated xxxxxxxxx 2021, any open checking, savings, and credit card account(s) will be closed on or after April 12. 2021. Access to online banking, remote deposits, and ATM transactions will also be restricted at that time. This allows sufficient time to change recurring payments and incoming deposits. Any remaining funds will be mailed to your address on file on or after the closure date.
In the event you have an existing loan or outstanding balance on a credit card, you will be allowed to make payments per the original terms; however, any additional extensions of credit are prohibited. Once the loan obligations are fully satisfied, membership will be officially terminated.
The bolding, above, is my own.
It is noteworthy that Ken himself, who followed up on this matter back on 22 March, has not so far posted the outcome of his having contacted his Alliant source. My own interpretation of that, even though Ken has not said so, is that Alliant blew Ken off just as they have blown all of us off. The new Alliant president, it seems to me, is a very highhanded individual.
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Now I understand why a former President is getting an Alliant account.
I have been reading the comments over at Ken’s site. So please, give me some understanding.
I have never received a letter of notification regarding my account status. Would you say I am clear, my membership is good. I don’t want to add this to my worry list. 
You are fine Patty. Only those that got the notice need to worry.
I did not get the notice, but the continuing decline of Alliant had me looking elsewhere. I landed on the combo of Fidelity CMA for checking, ONE to get the 3% on a portion of my pay, and CIBC for long term savings and have been happy with it for the 2 weeks or so that I’ve had it.
All you need to worry about is the possibility that a letter could arrive early next March; it’s an annual thing, and has already occured for 2021. Knowing you here as we do, I’d be very surprised if you ever end up on the naughty list.
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Alliant charged my credit card the updated $99 annual fee last week. I assume it’ll be refunded when the card is closed next week, or else there will be some really fun hell for them to pay.
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Blockquote
Glitch, I would just give them a call. Most credit cards will remove annual fees (within a month or so) if you ask.
Oh no, there’s no chance I’ll be proactively calling them. I can only hope the fee sticks, because them charging a $99 annual fee after they decided my account must be closed is otherwise known as “ammunition”.
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OK, so at the bottom line would it be fair, would it be correct, to state that you actually did receive warning albeit that warning was issued to you in the distant past?
And if that is fair, can you say did you modify your behavior in the wake of that old warning or just continue on regardless with what you were doing that they apparently did not like?
In this sense, I mean “advance warning” as in they’ll give you 30 days or so before closing the account. You wont wake up one morning to find it suddenly closed.
And yes, I assume most that have been kicked out did have some sort of quibble with them at some point in the past. Yes, I behaved post-warning, and believed the issue to be closed/resolved.
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