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Old 22.06.2011, 18:51
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Time taken for a CH wire transfer locally [19K]

Hello,

I transferred 19k chf on Tuesday at 9pm (yesterday) with the UBS e-banking from a local account to a PostFinance Local account still in chf.

Now it's Wednesday at 6pm and still don't see the money in the PostFinance e-banking!!!

I logged in the UBS e-banking and the money are still there under "transfer suspended". The cash is in the account, so not sure what's going on?

When do you think I likely gonna receive this on my post finance account?
Is there a way to ask to speed up? Not sure which bank is delaying the transfer..Ubs or PostFinance?

I really need this to be done by tommorrow max.
Thanks
2funky
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Old 22.06.2011, 18:56
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Re: Time for a CH wire transfer

I do not have a UBS account but my experience using PostFinance to Postfinance and well as to external banks within CH is that it takes no more than 2 work days. Again, this is for smaller amounts, well under CHF9K.
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Old 22.06.2011, 19:06
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Re: Time taken for a CH wire transfer locally [19K]

I thought it was only 24h.
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Old 22.06.2011, 19:09
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Re: Time taken for a CH wire transfer locally [19K]

Bank to post or vice versa is normally 2 to 3 days?
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Old 22.06.2011, 19:13
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Re: Time taken for a CH wire transfer locally [19K]

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Bank to post or vice versa is normally 2 to 3 days?
That's my experience, though it can often be faster.

I've wondered for years just where is the money during those 2-3 days?? The skeptic in me thinks there's some secret fund where transfers go and interest is collected for the missing days. Since with my post account I can choose an instantaneous transfer that will show up immediately in the recipient's account for a fee, I remain skeptical. I mean, it's not like someone has to go open a safe and so forth to make the transfer- it's just electronic bleeps and blips, right?
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Old 22.06.2011, 19:21
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Re: Time taken for a CH wire transfer locally [19K]

I find it shameful that I cannot traceroute the wire transfer.
I tried to call Ubs to tell me where they are and they don't know!!!
It should be done in 20 mins
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Old 22.06.2011, 19:22
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Re: Time taken for a CH wire transfer locally [19K]

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I find it shameful that I cannot traceroute the wire transfer.
I tried to call Ubs to tell me where they are and they don't know!!!
It should be done in 20 mins
And if you call the receiving bank they don't know either. I really have a hard time believing that!
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Old 22.06.2011, 19:42
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Re: Time taken for a CH wire transfer locally [19K]

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with the UBS e-banking from a local account to a PostFinance Local account still in chf.
did you correctly enter the data ? perhaps you enter a different date for the order to be executed ?
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Old 22.06.2011, 19:47
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Re: Time taken for a CH wire transfer locally [19K]

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That's my experience, though it can often be faster.

I've wondered for years just where is the money during those 2-3 days?? The skeptic in me thinks there's some secret fund where transfers go and interest is collected for the missing days. Since with my post account I can choose an instantaneous transfer that will show up immediately in the recipient's account for a fee, I remain skeptical. I mean, it's not like someone has to go open a safe and so forth to make the transfer- it's just electronic bleeps and blips, right?
Well. You're right. It's not that that's why the banks take their time, but it's a huge collective incentive not to improve a 1970s clearing mechanism. Actually, in the UK there's a new scheme launched in 2008 called the faster payments system, but not all banks are members. This makes almost all the system electronic. Well, it's better than the days when all the cheques got put on the train to their home branch to be cross referenced to the relevant accounts.

erm...to answer the OP, give it another day but also check the payment. You want to see an execution date that's in the past. If not, then you haven't made the payment yet.
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Old 22.06.2011, 19:54
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Re: Time taken for a CH wire transfer locally [19K]

Postfinance and Credit-Suisse have an express order option (5 CHF) to be placed before 1pm. Wiring happens same day....works well even for international-
I remember using that as well with UBS e-banking. need to check again.
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Old 22.06.2011, 20:14
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Re: Time taken for a CH wire transfer locally [19K]

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I logged in the UBS e-banking and the money are still there under "transfer suspended". The cash is in the account, so not sure what's going on?
Why would it be under "transfer suspended"? Shouldn't the sending institution be able to tell you what's going on? Of course they have no incentive to transfer the money; it's earning them interest as long as they have possession of it.
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Old 22.06.2011, 20:29
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Re: Time taken for a CH wire transfer locally [19K]

Post has lower charges, I think they hold the cash for 24 hours in each direction.

UBS - CS during the working day if transfer made before lunch.
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Old 22.06.2011, 22:51
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Re: Time taken for a CH wire transfer locally [19K]

They all say that it should arrive tommorrow.

If i dont see i tommorrow, who should I call? the sender or the receiver?
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Old 23.06.2011, 10:13
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Re: Time taken for a CH wire transfer locally [19K]

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They all say that it should arrive tommorrow.

If i dont see i tommorrow, who should I call? the sender or the receiver?
The sender, the receiver will have no way to trace.
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Old 23.06.2011, 10:29
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Re: Time taken for a CH wire transfer locally [19K]

Now i found it.

They blocked me the tansfer because there is a HIDDEN block of my bank account of 5000 CHF because i have a UBS Mastercard.

Why that f$^%$ stupid homebanking didnt tell me right away and i had to wait 24 hours to know it and the brench office didnt tell me anything as well??

Can I use another VISA card with UBS account?

Those people at UBS really make me angry.
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Old 23.06.2011, 10:31
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Re: Time taken for a CH wire transfer locally [19K]

Are you non EU? porsch1909 for example is non-EU (glasgow) and finds it tough to get unsecured credit.

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Now i found it.

They blocked me the tansfer because there is a HIDDEN block of my bank account of 5000 CHF because i have a UBS Mastercard.

Why that f$^%$ stupid homebanking didnt tell me right away and i had to wait 24 hours to know it and the brench office didnt tell me anything as well??

Can I use another VISA card with UBS account?

Those people at UBS really make me angry.

Last edited by economisto; 23.06.2011 at 12:48.
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Old 05.11.2012, 10:21
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Re: Time taken for a CH wire transfer locally [19K]

I know this post is an old one, but i just some research regarding this, so thought ill post incase someone else has the same question !

The post will always delay the execution of your payment for two days, it might be mentioned in your online banking already but the money is not really available until two days later. During those two days postfinance stores the money in one of there own accounts (a VERY big pot) and earn a nice amount of interest on it. (last year alone they made 17million on these delays)

But from bank to bank if you make a transfer before lunch time it should definitely be done the same day !

in regards to 2funkys question, if you do it by the machine you cant withdraw or transfer more then your limit (5000 CHF) but if you go into the bank and show your ID you should be able to take out as much as you want or I guess have..
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