I want to deposit the 1600 check but I want some cash back like 300.00, must I have enough in the bank to cover the amount I request to take????
2007-02-27 03:39:03 · 7 answers · asked by Thomas G 2 in Business & Finance ➔ Personal Finance
yes, when you go to deposit the check, inside the branch, on the deposit slip you simply put on there the amount of the deposit minus any withdrawls.
2007-02-27 03:41:37 · answer #1 · answered by Anonymous · 1⤊ 1⤋
I also bank with Wachovia. It really isn't what bank you bank with but what kind of relationship you have with the bank. The bank can legally hold that check for 5 working days if it is a non-local check. If it is a local check, they can withhold the funds for 2 working days.
If you are a good customer of the bank, they will frequently make the funds available immediately. However, if your account has a low balance, your chances of getting all or even part of the money immediately are reduced greatly. It will depend on your banks policy in that case.
Financial institutions are allowed to treat differently new customers, customers with a prior history of overdrawing their account, checks deposited during emergency conditions and checks that the bank is doubtful about their ability to collect.
In any case, even if they hold the check for the entire 5 working days and then release the money to you, that DOES NOT mean the check has cleared. It can sometimes take longer than that for a check to clear, depending on the circumstances so if that check bounces after they've released the funds to you, you will still have to pay the money back to them.
2007-02-27 11:54:02 · answer #2 · answered by Faye H 6 · 0⤊ 0⤋
It depends. If its a new account, they may limit the amount you can take. Also, if the check is a personal or out of state check, they have the option of holding it until it clears.
Normally though, you should be able to take whatever cash you want...
2007-02-27 11:47:52 · answer #3 · answered by Enchanted 7 · 1⤊ 0⤋
Tell them you want to cash the check and deposit the rest.
2007-02-27 11:42:10 · answer #4 · answered by frazier2728 2 · 0⤊ 1⤋
Yes, they will verify that the check will clear first. Then they will let you get the cash back you need.
2007-02-27 12:53:06 · answer #5 · answered by willie 4 · 0⤊ 0⤋
if the bank thinks it will clear then you can get cash back.
2007-02-27 12:02:27 · answer #6 · answered by Anonymous · 1⤊ 0⤋
No you can cash the whole thing if you want.
2007-02-27 11:41:14 · answer #7 · answered by mama 4 · 0⤊ 2⤋