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i just deposited a check to wamu and my ballance was 75 cents. ji deposited 600 dollars and withdrew 400 dollars. and when i got my recipt it said
current ballance: 201.00$
available ballance: -298.00$

why is it available negative do i owe them money can someone explain... thanks

2006-11-10 13:43:22 · 3 answers · asked by 011987@sbcglobal.net 2 in Business & Finance Personal Finance

3 answers

well the math doesn't add up at all but, when checks are deposited, they are not "cash in hand" so there is a waiting period for it to clear. what most banks will do is grant you an immediate $100 from the check immediately then wait until the check clears until the credit your account for the full balance.

2006-11-10 13:54:01 · answer #1 · answered by Anonymous · 2 0

they are FDIC insured so except you have exceeded the obstacles of coverage i does not issue approximately it. they have an coverage calculator so which you are able to use to double verify on it the hyperlink is listed decrease than. you have better than $a hundred,000 in deposits in a financial company and nonetheless be insured. as an occasion ira's are FDIC insured as much as $250,000. Say in case you had an a cd for in basic terms a $a hundred,000 and only your call grew to become into on it. you're able to in basic terms have a 100k of FDIC coverage on it. yet once you had 6 beneficiaries on it you will possibly have that cd be $600k and nonetheless have it insured. it truthfully relies upon on how those bills are titled. Oh and as some distance because of the fact the guy saying wamu won't be able to fail... wager back.. To be completely honest i could heavily inspect going with a community financial company. distinctive those banks that are having those themes have been given in touch with those own loan subsidized securities and subprime lending and now are having themes with them. distinctive community banks in no way have been given in touch with the full volatile subprime/own loan backs so they are alot greater sturdy than those insititutions that theory they have been too enormous to fail..

2016-10-21 21:26:20 · answer #2 · answered by ? 4 · 0 0

your funds arent available immediatly..they usually hold so much for 24hrs or so

2006-11-10 13:51:02 · answer #3 · answered by mommy2savannah51405 6 · 0 0

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