What's the best way to model an electronic funds transfer pull with hold

[John Morris]

Hi Nelson,
  Others have suggested a suspend account; you can find those details elsewhere. I find that to be more than I need, but I do sometimes need to track this type of hold in the moment. When that happens, I simply add a transaction to the account that removes the funds to some miscellaneous account and a second transaction reversing that transfer when the funds are scheduled to be released. I usually delete those two transactions after the funds are released from the hold. This keeps me aware that the money is not really available during the hold period, but it does not clutter up my long-term view of the accounts with unnecessary transactions.


  For what its worth, at least in my experience here in the United States, we can no longer count on even one day of float between banks. My main bank now initiates same-day ACH transfers when I request a pull transfer. I was bitten by this the first time it happened because I did not get around to funding the transfer at the other end for several hours. In the interim  bank-b received the pull request, bounced it for NSF and charged me $25.

Best,
John

> On Oct 1, 2017, at 10:48 AM, Nelson <fkjasdhf878 at mailinator.com> wrote:
> 
> Let's assume that we have two accounts, bank-a and bank-b. 
> 
> - bank-a has a $11,000.00 balance
> - bank-b initiates a $10,000.00 electronic funds transfer pull.
> - money shows up in bank-b immediately but there is a 5 business days hold
> so money is not available.
> - for at least 2 business days, until it clears through the payment network,
> the transaction doesn't show up in bank-a but this money should be shown
> somehow as unavailable.
> 
> TIA for recommendations.