A reader notes that while his E*Trade bank-to-bank transfers usually take 2-3 days, now they're taking 5. Hm, in light of their recent stock plummeting, could they be trying to scrape up a little extra interest?
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I have an account at e*Trade and did a transfer this week and it only took one day. Could just be an anomaly.
ETFC plummeted because some Citi analyst wrote a hit job on them, but the whole thing was kind of overblown.
besides that, your premise is deeply flawed. There's almost no money in flight at any given time, thus no real gain in monkeying with that.
Maybe it's just a coincidence, but something similar just happened to me. I tried to cash in my employee stock purchase plan earnings in a few weeks ago, same as I've been doing every six months. This was just after etrade's financial problems had hit the news. Instead of smoothly transferring my money, they waited 8 days, and then sent me an email saying that the Patriot Act required me to call them and verify my information. Then, they refused to let me verify my bank account. Then, it took them another week or so to actually transfer it. All told, a process that usually takes 2-3 days took me 2 1/2 weeks. I'm not so sure there isn't something more at stake here . . .
Nope, still basically a day for me. From my eTrade savings to my Bank of America checking its still taking the same end-of-the-next-business day.
I opened bank accounts with E*Trade back in September, well before the bankruptcy rumors started. Customer service told me weeks before I joined that they would take 5 days.
Annoying? Yes, but I don't think it has anything to do with their stock plummeting.