Found a weird trick for avoiding withdrawal delays with my broker

After getting burned twice with withdrawals taking over 10 business days at my old broker, I did some digging and found a weird trick that actually worked. I noticed that if I submitted my withdrawal request on a Monday morning before 9 AM EST, it would hit my bank by Wednesday. But if I did it any other time, it would sit there for a week and a half. I tested this theory 4 times over two months and it held up every single time. My theory is that they batch process requests at the start of the week and anything after that goes to the bottom of the pile. Has anyone else noticed timing making a difference with their broker's payout speed?

2 comments

2 Comments

emeryr3825d ago

Man that's a great find! I had the exact same thing happen with my broker. Tested it a few times myself. I figured out that if I request a withdrawal right when the market opens on a Tuesday, it usually clears by Thursday afternoon. But if I do it on a Friday afternoon, forget about it. That thing will sit there until the next Wednesday or Thursday. I think they do batch processing just like you said. It's wild how much of a difference a few hours can make.

bettym8925d ago

So it really is just about timing then? That's frustrating but at least you figured out the trick.