This is an ongoing issue.
Transfers from within Neo accounts are instant.
However, when you transfer from other banks it takes days!
I transferred $ from my BMO account to my Neo savings on July 9th & as of July 15, it’s still not available.
In a world where e-transfers to complete strangers are instant, why do transfers from institution to institution take days?
Outdated Canadian payment rail is to blame. Payments Canada are supposed to start rolling out the new infrastructure later this year (Real Time Rail), that is supposed to address the long processing time
Just etransfer to yourself, bank to bank, just requires turning off auto deposit.
I have to say that I have had a positive experience only when it comes to transferring funds from Neo not to my Neo account. My last example was transferring out my cash back from my Neo checking account to my main RBC account and it wasn’t during business hours. It was like near midnight and it was instant so I’m not sure why others are having issues with this but I certainly am not and I note that I have auto deposit on my RBC account as well.
@KellyM I know for sure that e-transfers are instant, are you sure you didnyt an EFT? That usually takes days.