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I want to know if there is a bank that posts and takes the money away from your account weather the merchant posted it or not, so you ALWAYS know your REAL balance?

that way i can always check it online and avoid most NSF fees and Overdrafts :(

2007-11-25 16:34:18 · 9 answers · asked by Steven j. 2 in Business & Finance Personal Finance

9 answers

All banks have to be honest or they will be indicted. Your problem is not in the bank but not knowing how to balance your own check book. The bank doesn't know which check and to whom you have written until it is cleared in the bank. You are supposed to enter your transactions in the record book that the bank gives you along with your checks. This way, you can subtract the checks you've written and add the deposits from your balance. Another way is to use Quick Book or other accounting software. You can write/print the check or enter the transaction in the program. It will automatically calculate the balance for you.

2007-11-25 16:39:40 · answer #1 · answered by Princess A 3 · 0 0

Banks are institutions, and can only be as honest as those working and managing them. They are governed by laws also.

What you ask is not possible. How would the bank know of the transaction if the merchant hasn't posted it. Although, with electronic transactions becoming more common, it does happen faster.

Perhaps you should try keeping your own records. First, you would know your balance without relying on the bank. Second, if the bank makes an error, you would know something wasn't right and call it to their attention. (Check your figures first.) Third, quit spending everything you have and leave a cushion in the account so you don't get hit with overdrafts and NSF fees.

Actually, the best solution since you obviously can't manage your funds, CASH. If you don't have any, you can't spend any. You need to learn to save.

2007-11-26 00:43:56 · answer #2 · answered by terrellfastball 6 · 0 0

You have to manage your checkbook. If you have three or four checks floating around and you ask for your account balance, the workers at the bank are going to give you what they see on their computers, which doesn't include the three or four checks you've written and are still floating around somewhere. It is YOUR responsibility to manage your checkbook, not the tellers'.

If you check your account online, check to see which checks and transactions have gone through ... place a checkmark on them. Then take your balance, subtract the outstanding checks and transactions, and you should have your balance. Also, when you receive your statement each month, balance your checkbook. If you don't understand how to do it, ask one of the workers at the bank to explain it to you. And be nice about it. It's not their responsibility to teach you how to balance a checkbook, but most of them will if you are polite and willing to learn. It makes their job easier, too. Do it on a day when they're not busy ... possibly a Tuesday or Wednesday towards the middle of a month ... and get there early (not at five minutes until closing time).

It's the teller you have the most contact with ... not the president or the vice president. And the tellers do not benefit from your NSF fees ... they really don't make much money themselves. If you are nice to them and treat them with courtesy and respect, they will try to assist you.

2007-11-26 06:37:03 · answer #3 · answered by Patti 3 · 0 0

Many banks post the merchant holds and immediately take those funds from your available balance. That's not always a perfect system however as the merchant might not request a hold for the correct amount - for example, I got $22.50 in gas earlier tonight, and the merchant hold is for $1.00 from the gas station. Or the amount of a hold from going out to dinner may or may not include the tip you left, or it might include an estimated tip.

The best way to know your real balance is to keep a check register.

2007-11-26 00:41:11 · answer #4 · answered by jon b 4 · 0 0

BB&T......if theres a branch in your area.
They have an on line site to check your accounts and everything else. It usually takes a day or two to see the most recent changes in your account on this site but I suggest openig an account with BB&T if you have this bank nearby or something. Really good personal service inside the bank and the on line thing is pretty helpful. Ive just opened an account with BB&T a few months ago and Ive never trusted banks myself .....until now. Good luck!~Stacy....PS....as for overdrafts....at this bank, you can also have a savings account along with your checking acct. The savings acct. helps cover your overdrafts AND ....of course....helps you save some moneyu you may want to put aside.

2007-11-26 00:41:01 · answer #5 · answered by JennyJennyJenny 6 · 0 0

Yeah, I think mine does the best it can. It will says pending if it's not fully processed, but it still shows up and affects the balance. Of course, the bank can't know what you spent if the merchant is slow at reporting it..

2007-11-26 00:37:42 · answer #6 · answered by rath 5 · 0 0

Nope, there is no such thing as a honest bank. There might be AN honest bank, however.

2007-11-26 00:38:46 · answer #7 · answered by Flywheel 4 · 0 0

all banks are honest some are just slower about rolling there debits/credits -- but you should not use the balance on the internet -- use the balance in your check book!!!

2007-11-29 11:58:57 · answer #8 · answered by mister ed 7 · 0 0

I love CHASE Bank..........so far so good!!

2007-11-26 00:38:11 · answer #9 · answered by maiojas 3 · 0 0

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