Banking Question

[13Gigatons]

I have a rebate check with a December 29 void date, I was thinking of just going to my banks ATM machine which is inside and depositing it there to avoid the long teller line.

The question is will it process before the void date?

 

[mav451]

Eh just wait in the line. Go at a non-peak time like 2PM or something.

 

[kranky]

I wouldn't do that. The check will come back unpaid, you'll get charged a fee for bouncing a check.

 

[FoBoT]

if it is worth cashing, it is worth standing in line to make sure it goes through today

 

[rasczak]

today is the 28th, so long as you deposit it before the 29th, isn't the company supposed to honor that check?

 

[kranky]

Not sure. The account may close on the 29th and it won't make it to the destination bank in one day. I guess it depends on the amount of the check. I wouldn't risk a $30 bounced check fee on a $5 rebate check, but I might give it a shot for a $100 rebate.

 

[rasczak]

that makes sense.

 

[dullard]

I don't know what you are talking about with a long line for a teller. Ever since ATMs were introduced (years ago), there have been long lines at all ATMs and no lines at any of the bank tellers that I use (and I use at least 7 branches of 3 different banks). I walk right past all the fools at the ATM and get done with my banking faster, with personal service, and no possibility for an ATM fee. Of course, I use good banks which have tellers for at least 8 hours on Saturdays, have tellers open on Sundays, and have tellers late in the evenings. Your bank must suck.

To answer your question: they won't pick up the ATM deposits until this evening. They won't process it until tomorrow. That brings the real question. Does the check expire on the 29th or AFTER the 29th. I cannot answer that question. It may not be a banking question, rather a question regarding the company that wrote the rebate check. Save yourself the trouble and just go to a teller before 3 pm today so you know it counts as a transaction today. Or, go deposit it for cash at some place like Walmart where you don't have an account. It'll cost you a buck or two, but you'll never have to worry about the expiration.