I had my federal tax refund direct deposited into my bank account. It was deposited this morning. Its listed under pending transactions but my account balance shows that its been deposited. Is my money there and can I use it?
2007-02-09 02:27:21 · 9 answers · asked by jwk227 3 in Business & Finance ➔ Personal Finance
ok, thanks guys. I was getting irritated didnt' know if I could use it didn't want to go in the hole and I have bills to pay
2007-02-09 02:32:30 · update #1
finally got ahold of an actual person at the bank. She said as long as its a direct deposit under pending transaction then my money is there and I can use it
2007-02-09 02:54:51 · update #2
Yes, your money is "there". The bank has received notice to put money into your bank.
It depends on your bank whether you can use it though.
I have two banks. One, it takes a day before I can withdraw my pending balance and the other lets me use it immediately.
Chances are, if you see it as part of your balance then the bank will let you withdraw it.
It may be source dependent. One bank I use for my paycheck (the one that works right away) and the other bank I transfer money from other financial institutions (brokerage account, credit card payment - was too lazy to change all my preferences).
Just wait a day or two to make sure or call your bank.
2007-02-09 02:30:25 · answer #1 · answered by Eric L 5 · 0⤊ 0⤋
The money is available once it hits your available balance. Your bank does not know at this point who is depositing the money. Tomorrow morning, it will show the actual transaction and probably list it as US Treasury. It's going through settling right now.
2007-02-09 10:35:00 · answer #2 · answered by Matt K 4 · 0⤊ 0⤋
I read where sexy Troja said that there is no hold on direct deposit, but thet's not quite true. You can only access your money immediately if you already have some funds in your account before your direct deposit hits.If you have $0.00 or a balance of $10.00 and you need $40.00, you would just be fuc*ed out of luck. You can't spend what you don't have.Even if you do have $3,000 pending . It has'nt cleared yet.
2007-02-09 12:13:58 · answer #3 · answered by Mahogany 2 · 0⤊ 0⤋
no you cannot use it. The balance is based on after all transactions have posted. If you go to the atm and withdraw the funds based on that balance you will overdraw. Also soemthing may happen that causes the deposit not to post so don't rely on it. If the transaction is there now it should post by late this afternoon.
2007-02-09 10:37:34 · answer #4 · answered by Billy FZ1 5 · 0⤊ 0⤋
It depends on the bank. Since it is from the Federal government you should be entitled to it right away but some banks put an automatic hold on checks over a certain amount.
2007-02-09 10:32:10 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Yes you can use the money that is deposited.
2007-02-09 10:32:25 · answer #6 · answered by userdefined 3 · 0⤊ 0⤋
Yes, you can use it. There is no hold on direct deposit.
2007-02-09 10:30:53 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Check your available balance!
2007-02-09 10:33:46 · answer #8 · answered by Anonymous · 0⤊ 0⤋
yes, if you your balance shows it's there....
2007-02-09 10:30:57 · answer #9 · answered by L 3 · 0⤊ 0⤋