Shouldn't a deposit made on last Friday at 3 be available?
- Thread starter JohnCU
- Start date
Most banks switch over to the next business day at 3pm. It usually takes one business day for a deposited check to become available and cash is always available immedietly.
1. If you deposited a check either through a teller or ATM at or after 3pm on Friday, that deposit was technically made on Monday's (today) business date and will be available tomorrow.
2. If you deposited cash through a teller at or after 3pm on Friday, it should be availabe immedietly.
3. If you deposited cash through an ATM on Friday at or after 3pm, they would process is Saturday morning (if they ar open Saturday) or on Monday( today) which means it will post your account tomorrow.
oogabooga
Diamond Member
- Jan 14, 2003
- 7,806
- 3
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if you went negative balance : most likely they will charge you.
You can try arguing that you didn't know about the atm deposit handling, at which point you -might- be able to get outa the charge.
for me : my atm makes available a certain % of the deposit. And then a good chunk of it remains unavilable till a certain date, about 5 buisness days. Depositing at the teller or quick drop eliminates this charge, so i dont deposit via atm unless i -have- too or dont need the money soon. Even though that amount is in my bank, it isn't available, and if i use beyond my 'available balance' i'm in debt i guess and owe an overdraw fee at which point they pull from my savings.
You can try arguing that you didn't know about the atm deposit handling, at which point you -might- be able to get outa the charge.
for me : my atm makes available a certain % of the deposit. And then a good chunk of it remains unavilable till a certain date, about 5 buisness days. Depositing at the teller or quick drop eliminates this charge, so i dont deposit via atm unless i -have- too or dont need the money soon. Even though that amount is in my bank, it isn't available, and if i use beyond my 'available balance' i'm in debt i guess and owe an overdraw fee at which point they pull from my savings.
You mean an overdraft fee? You might. It depends on the financial institution. In any case, a fee should be assessed, but the timing varies between banks. Your mney might clear your account in time for you not to be charged.
I was about to post this rant earlier. I FVCKING HATE THE BANK. If I put my check in friday or even thursday, it wont CLEAR UNTIL TUESDAY. WHAT THE FVCK. So lately I have been cashing my check at various grocery stores and then puting in the cash. Heres what I suggest you do.
-Make them cash the check.
-Hand teller cash.
-Problem solved money is shown instantly.
Ever tried to cash a ~300 check, but they won't because you only have 250 in there? WTF. HEY FVCKTARDS, the reason I don't have money in there is that if it takes 47 days to clear, i'll just hold onto the cash. I even complained to the bank manager a couple of weeks ago because this lady wouldn't give me my money and basically tossed the checks at me. And WTF is a "network access fee" for a $1.30. Bastards.
-Make them cash the check.
-Hand teller cash.
-Problem solved money is shown instantly.
Ever tried to cash a ~300 check, but they won't because you only have 250 in there? WTF. HEY FVCKTARDS, the reason I don't have money in there is that if it takes 47 days to clear, i'll just hold onto the cash. I even complained to the bank manager a couple of weeks ago because this lady wouldn't give me my money and basically tossed the checks at me. And WTF is a "network access fee" for a $1.30. Bastards.
Hahahahaha, I worked at a bank for a year and a half. I can remember explaining policies to people like you.
If I have $2500 in there, plenty to cover a $200 check, what stops me from cashing the check and then handing the cashier the cash. I don't understand why I should have to wait until tuesday or so for my money.
Call the bank customer support. The deposit it probably in queue. If they get the manager's they can often times force the deposit to clear and then waive any charges you may receive do to the overdraft.
The bank does not want to risk taking a loss. The check could be counterfeit, etc. Most banks would insist on you deposting the check as it is, and withdrawal the $200 from your available funds.
Thats what I am saying, the cashiers don't seem to like it. A couple of times, they just said screw it, and made the money available right there. I understand what it is to be an assh0le working in retail, and I am very nice to these people, its just these hoops I have to go through to get some money that really ticks me off.
Well thats FVCKING BS. My bank has never done that (subtracting from available).
To OP: Just go to a grocery store and cash it, then deposit cash, I think thats the easiest way.
dullard
Elite Member
- May 21, 2001
- 25,935
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Let me explain. Suppose you have $2500 available in the account. And you want to deposit a $200 check. You do not have $2700 available immediately, only $2500 until the check clears (by federal law it will take up to 11 days). After the 11th day (usually less), you'll have $2700 available.
Suppose you instead cash the $200 check, they withdraw $200 from your account. You now have $200 in cash, $2300 available (total $2500) and $200 pending until the check clears (up to 11 days later).
In both cases you have $2500 available until the check clears.
Suppose you instead cash the $200 check, they withdraw $200 from your account. You now have $200 in cash, $2300 available (total $2500) and $200 pending until the check clears (up to 11 days later).
In both cases you have $2500 available until the check clears.
- Dec 9, 2000
- 16,528
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I called my bank and they said tonight, when they do the posting, the deposit would go in first and the ATM withdrawal would come in second and I will have no overdraft fees.
I guess I should have done that in the first place, but I wanted a good AT discussion on banks.
I guess I should have done that in the first place, but I wanted a good AT discussion on banks.
dullard
Elite Member
- May 21, 2001
- 25,935
- 4,526
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Almost all banks do it (ask yours, I bet it does). Most grocery stores charge a fee. Why waste a dollar or two with every check? That money lost adds up quite quickly.
Heck, even many banks won't clear the cash for a few days. So you pay a fee and might gain nothing. This part is BS, I agree.
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