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August 31, 2009 • Posted by Michael FerrariReduced ACH Transfer Times!
Great news! SmartyPig ACH transfer times reduced!
ACH transfer times have been a hot topic both on this blog and on Get Satisfaction. When customers transfer money from their existing checking or savings account to SmartyPig, they want that money to clear into their SmartyPig account and begin earning interest as quickly as possible. We get it.
Our existing three day ACH transfer time is well within the industry standard of two to four days. In fact, according to the Wall Street Journal, “Bank of America Corp. says such transfers typically take two to three days. EmigrantDirect says on its Web site that transfers take two to four days, while HSBC Direct says customers should expect transfers to take up to three days.” But being in the middle of the pack didn’t sit right with us. We knew that driving that transfer time down was important for our customers. And, we’ve said all along that this would be something that SmartyPig would look to improve upon as the company grew.
Now, I’m happy to tell you all that our ACH transfer times have been reduced from three business days to two business days, putting us on par with the likes of ING Direct.
How did we do it?
We spent the last three months building our own proprietary transaction engine. We took out the middleman and saved you a day in the process. We said we would do it, and we did.
Why did we do it?
Because we knew it was important.
So, cheers everyone! Here’s to getting that extra day back! (Don’t you wish we could do the same for DMV and doctor’s office visits?!)
Mike Ferrari, co-founder
@mferrari
@smartypig
Friday’s Winners Announced!
Thanks to everyone for playing this week. It’s been a lot of fun. After 15 minutes of play and over 100 answers, we’ve got our winners!
The question was:
The Iowa State Fair was cancelled in 1898 due to the World’s Fair which occurred in what state?
And the answer:
Nebraska
And the winners are…
Congrats to the winners! Winners please send an email to support@smartypig.com with your shipping address to where we can ship the gift card.
Thanks again and have a great weekend!
Friday State Fair Twitter Contest!
It’s day five and our LAST DAY of the weeklong twitter contest in honor of the world famous Iowa State Fair!
SmartyPig is giving away 3 – $100 gift cards every day this week in honor of the world famous Iowa State Fair (Home of the Butter Cow, birthplace of the corn dog - and only a cow chip toss away from SmartyPig’s corporate offices!). We will tweet a question and give our followers 15 minutes to reply to us.
The format:
- After 15 minutes, we will be picking 3 random winners with a number generator from the pool of correct answers.
- We’ll post the winners here on our blog.
Make sure:
- You’re following us on Twitter.
- We’ll ask the $100 question everyday this week at 3 pm CST.
- Answer the question correctly for your chance to win part of $1,500 in prizes!
Remember: if you don’t already have a SmartyPig account, it’s free to set one up! Winner must be in the US.
Good Luck!
Thursday’s Winners Announced!
After 15 minutes of play and over 120 correct answers, we’ve got our winners!
The question was:
What was the hottest temperature recorded at the Iowa State Fair?
And the answer:
108 degrees
And the winners are…
Congrats to the winners! Winners please send an email to support@smartypig.com with your shipping address to where we can ship the gift card.
For those that did not win, don’t forget to play along EACH DAY this week at 3PM CST for your chance at a $100 SmartyPig gift card!
Thursday State Fair Twitter Contest!
It’s day four of the weeklong twitter contest in honor of the world famous Iowa State Fair!
SmartyPig is giving away 3 – $100 gift cards every day this week in honor of the world famous Iowa State Fair (Home of the Butter Cow, birthplace of the corn dog - and only a cow chip toss away from SmartyPig’s corporate offices!). We will tweet a question and give our followers 15 minutes to reply to us.
The format:
- After 15 minutes, we will be picking 3 random winners with a number generator from the pool of correct answers.
- We’ll post the winners here on our blog.
Make sure:
- You’re following us on Twitter.
- We’ll ask the $100 question everyday this week at 3 pm CST.
- Answer the question correctly for your chance to win part of $1,500 in prizes!
Remember: if you don’t already have a SmartyPig account, it’s free to set one up! Winner must be in the US.
Good Luck!
