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linked from Cagey Consumer Highlights web search for Cagey Consumer Highlights
In the article at http://bankrate.com/brm/news/DrDon/20060926a1.asp, Dr. Don concludes an answer about the lost interest resulting from trasnferring money using an automated clearing house (ACH) transaction with:

If you're not talking six figure transfers ($100,000-plus), then let it go.

This is one heck of an answer... one heck of a bad answer, that is. If there really weren't anything you could do to minimize this cost, as he erroneously indicates when he states:

Transfer the money by check and there will still be a period of time when the money isn't earning interest in either account.
then that would make sense. But this answer is particularly egregious in the context of the http://bankrate.com web site, which has as its raison d'etre the ability to comparison shop for the best bank rates. If you can't transfer money without losing interest, that makes the practice of shopping around considerably less attractive.

The fact is that you often do have options that can influence the cost of transferring the money. Let's try and figure them out:

When Should You Use A Wire To Avoid Lost Interest web search for When Should You Use A Wire To Avoid Lost Interest

When Should You Write A Check To Avoid Lost Interest web search for When Should You Write A Check To Avoid Lost Interest

Topic MoneyTransfersMayNotMeanLostInterest . { Edit | Ref-By | Attach | Diffs | r1.1 }
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Revision r1.1 - 08 Oct 2006 - 17:06 by EliMantel web search for EliMantel
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