If you’re like me, you have many checking, savings, and money market accounts. Funds go in one and out the other. You oftentimes need to transfer funds between one account and the other. We’re lucky today to possess the technology to facilitate transfers easily and for free, but you should consider one thing before moving money out of your accounts: interest.

Sure, you’re not making a living off of the interest in your bank accounts (the PayPal money market account is earning 0.1% right now), but in an economy like this, every penny counts. So, we recommend timing your withdrawals to maximize your interest. With PayPal especially, if you transfer money out of your account, the balance is immediately shown to be reduced by the amount you transferred out. However, it takes time for that money to show up in the designated account. After your withdraw funds, PayPal tells you:

It usually takes 3-4 business days to transfer funds from your PayPal account to your bank account, depending on your bank’s policies.

Notice that they specify “business days”. That means that if you initiate the transfer Friday night, you won’t see your money in your account potentially by the next Thursday. That time represents lost interest and even with low rates, it can add up if you’re dealing with big enough amounts over time. So, we recommend moving funds on Monday when you have five business days ahead to work. Over time your interest payments will thank you.

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