Posted by Chuck on March 28, 2019
Checking Accounts

Published on March 28th, 2019 | by Chuck

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Chase Checking Accounts Offer Instant ACH Transfers to Other Banks

Chase added a feature to their checking accounts to be able to send ACH transfers between bank accounts instantly. Currently, the Real Time Transfer option is only available for transferring between your own accounts of Chase and other financial institutions, not to transfer to other people’s accounts.

  • Limit $5,000 per transfer.
  • Instant transfers can not be cancelled.
  • The instant transfer feature works when transferring to some banks, not all.

My hunch is that it’s all the banks who are on the Zelle system which Chase is now doing non-Zelle ACH transfers instantly as well. This saves the hassle of having to create multiple Zelle accounts, on for each bank. Also, if you’re trying to trigger a direct deposit requirement, this new feature can be useful whereas Zelle likely won’t work.

In the end, I don’t really recommend banking with Chase if you have any sort of shenanigans going on with your Chase credit cards since there have been multiple instances where the credit cards got shut down scrutiny due to the checking account.

Thanks to reader M. for sending this in



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MarcoPolo
MarcoPolo

This will be a game changer.

Points
Points

How?

Yaobang
Yaobang

My Wells Fargo Checking doesn’t classify it as a DD. I think more DP should be collected.

ktn
ktn

Lol, 1 week after I close my Chase Checking.

Eric
Eric

This feature didn’t just come about. I wrote about it being available in the PNC thread on DoC several weeks ago.

Kris
Kris

Please can someone help with Chase account with online access or any idea on how to link a different bank to chase intantly. I wish to link an account instantly for instant transfer of $285k or more. I’mm open for biz..Tnx

Shelli
Shelli

What actions would you define as “shenanigans”?

Zack
Zack

Hi-jinks, tomfoolery, monkey business, and roguery, to start.

Ann
Ann

Probably meant high-volume MS, frequent opening/closing, stuff like that.

Ann
Ann

Sweet!

MAB
MAB

I don’t see that as an option on my Chase Premier Checking. I am in CA.

HarryTheFirstHarry
HarryTheFirstHarry

Hmm. this may be related to some federal rule or law than Zelle. This week for the first time ever my Discover Savings did a same day ACH without my asking to a CU that does not participate in Zelle. I believe Discover now does this for all transfers $1K and less. That is when I went and googled it and came up with this:
https://www.frbservices.org/resources/resource-centers/same-day-ach/index.html

https://web.nacha.org/system/files/resource/2017-08/Same-Day-ACH-FAQ-2016_0.pdf

Ann
Ann

This is about INSTANT ACH, not just same-day ACH (which would already be an improvement over what we get with most banks).

Steve

My experience with doing an ACH push from Chase is that they suspended my account until I called them, and then the transfer was silently canceled. So I’m hesitant to ever try using ACH at Chase.

It’s a similar situation with Chase’s Sapphire Banking having free outgoing wire transfers; are they going to freeze my account if I actually try using it?

Ann
Ann

If your Chase account was fairly new, it can be a problem. I’ve had mine for a long time (too tied-in to churn it) and have done many recurring and one-time ACH transfers, ranging from $1 to the $10k max, with no problems so far (fingers crossed).

Parkerthon
Parkerthon

I use Chase for ACH requirements to other banks. Move money in and out all over place. It’s my everything but family/personal spend cc payment checking too. So it gets good volume. No issues so far but I’ve had account for a while.

gary
gary

Have 0 confidence in chase doing something for a consumer

ch
ch

any transaction you do on any CC, checking, savings, mortgage, etc account is valuable to them. They are in the data business. Do not kid yourself.

pato
pato

Where can I find this on my account ? Where is the link for the FAQ page where the screenshot is from ?

Gadget

pato FAQ: https://secure03a.chase.com/web/auth/dashboard#/dashboard/misc/helpCenter/requestFrequentlyAskedQuestions

To see it in action, on Desktop site: Go to Accounts, Transfer Money button, select a bank on your list under “Transfer to:.

You will only see it as available if the receiving bank is capable. My credit union, & TIAA, not capable.

PNC is…. so that tells me it’s an EWS bank thing, more than likely. See DoC article on who pulls EWS. doctorofcredit.com/banks-credit-unions-dodont-pull-early-warning-services/

pato
pato

Thanks for you response. However, your link makes me sign in and just takes me to the main page even if I click it while signed in it still takes me to homepage. When you click accounts it just shows you your home page I can click on Pay & Transfer but it just shows me my checking and my LINKED external accounts.

Thanks,

Ann
Ann

You need to act like you want to set up a new transfer. If you select your Chase account as the “From”, and an external account at one of the supported banks such as Wells Fargo as the “To”, the Real-Time option will appear below the usual scheduling settings.

Gadget

Sorry the link didn’t work.

Linked external accounts is where you will find the magical “instant transfer”. Instant will only show for a few banks. When you have a bank that is capable, once you select it, there should be, on the transfers tab, a link to the help file, says “Learn more”. Good luck!

pato
pato

Are you saying I already need to have a linked external bank from Chase’s eligible list or this list is there anyways ? .. if you don’t mind uploading a screenshot on imgur and attaching the link

Gadget
pato
pato

Thanks,

I think your already linked bank account has to be supported and then you select it to get that option I will try to link an EWS/Zelle account and see.

Rick
Rick

Likewise I see no option even for my Zelle capable BoA checking account. Probably being rolled out in stages.

MAB
MAB

PNC Linked Account is still showing 3 business day ACH and I cant locate the Instant Transfer graphic when I login. Is this enhancement being rolled out in phases?

Dukie02
Dukie02

Same issue – my linked PNC account only shows 3 day transfer (as well as Citi and 2 CUs). Must be rolled out in phases.

CreditHunter
CreditHunter

Is this only for personal checking or does it also apply to Chase business checking accounts?

Patrick
Patrick

Can someone confirm if the instant transfers count as a direct deposit?

P D
P D

Wondering this myself. I’m going to do the old standard transfer for now just to make sure.

Ashlee
Ashlee

DP: did real time transfer from Chase to PNC, did not count as direct deposit. Regular 1-3 day transfer did count.

shenanigans
shenanigans

US Bank code it as Real Time Payment Credit, I just assume it won’t be counted as ACH.

Kris
Kris

Please can someone help with Chase account with online access or any idea on how to link a different bank to chase intantly. I wish to link an account instantly for instant transfer of $285k or more. I’mm open for biz..Tnx

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