reversed EFT payments - why do they take 4-5 days to show?

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Heidi Rice

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Oct 5, 2018, 7:31:36 PM10/5/18
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I've always been curious but never asked...why does a reversed EFT Tenant rent payment take 4-5 business days to reverse? It seems like in the modern age it should take 24 hours max. Does anyone know?

Thank you,

Heidi Rice
Rice Real Estate
Las Vegas

David Fotheringham

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Oct 7, 2018, 2:42:33 PM10/7/18
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I've always wondered about that too.

sharon.molnar

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Oct 7, 2018, 3:05:23 PM10/7/18
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It is because each bank has to go through the Fed reserve. Your bank and their bank. The Fed has cut off times.



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Glenn Russell

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May 21, 2019, 2:21:14 PM5/21/19
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It can also be that the Tenant's credit union is using a much larger "correspondent bank"
in a totally different Federal Reserve region.which adds a day or two.

Glenn Russell, Broker
Coastal Group, Inc. Realtors
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Virginia Beach, VA 23455
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