i always thought that if you had a deposit in by noon on a business day that your deposit would go in for that same day. my bank is sometimes taking 4 days to clear a deposit even when it is cash.
2007-08-14 13:20:36 · 6 answers · asked by bootleg 3 in Business & Finance ➔ Personal Finance
Generally 2 business days. It may take longer if you deposit the money into an ATM.
If i deposit cash, and go into the bank, it usually posts the next business day.
2007-08-14 13:27:00 · answer #1 · answered by what's the point 4 · 0⤊ 5⤋
Cash deposits done via a teller should be instantly available. Anything else is unacceptable and you should change banks.
Electronic transfers and cheques should take anywhere from 1 to 5 days. Again, anything else is unacceptable.
Banks use funds on deposit on the overnight money markets and many other ways and make money on those funds. This can be substantial sums. It is in their interest to keep your funds in the bank for as long as they can.
By not making funds available to you simply means the bank can use it for a bit longer without paying you for the privilege. When you use the banks money, they charge you from the second the funds are used or transferred even if not available.
Talk to the bank manager as this may be a mistake in their processing software that could be easily corrected and, if not, request they pay you interest on the money they are using that is not available at more favourable rates. If this does not work, change banks.
I would be changing banks immediately.
2007-08-14 13:50:47 · answer #2 · answered by Anonymous · 8⤊ 0⤋
It should never take more than 24 hours for a deposit to clear the bank. Unless it is a weekend and then it post at the end of the closing day.
I think you should contact not only your bank manager, but also the Better Business Bureau in regards to the way the bank is handling your money, and I am sure a lot of other peoples.
Banks are business's and should be treated as one, its you who gives the bank the ability to do business not the other way around.
2007-08-14 13:28:17 · answer #3 · answered by David H 2 · 7⤊ 0⤋
All deposits with cash should post to an account immediately local checks with in your area even your state usually clear the next day checks from out of state can take up to 5 business days to clear your account and foreign checks can take up to 30 days to clear your account. All checks post to your account at the time of the deposit but all of the funds are not available to use until those checks clear.
2007-08-14 17:12:36 · answer #4 · answered by Anonymous · 7⤊ 0⤋
4 days is WAY too long. If I make a deposit in the morning, it's available by the afternoon. Tell your bank to shoove it and go elsewhere.
2007-08-14 14:56:54 · answer #5 · answered by jdkilp 7 · 6⤊ 0⤋
wow. switch banks! If I put cash in my bank it goes in instantly. I use Washington Mutual.
2007-08-14 13:27:16 · answer #6 · answered by Anonymous · 4⤊ 0⤋
cash immediate
out of state check can take three to five days
pay roll check by 3 p.m on the day
2007-08-14 13:28:01 · answer #7 · answered by Michael M 7 · 1⤊ 0⤋
Talk to your bank. Maybe it is time to change banks.
2007-08-14 13:27:52 · answer #8 · answered by Gary 5 · 4⤊ 0⤋