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Posted: 3/3/2008 2:46:51 PM EDT
Say I take my weekly paycheck into my bank. Check averages $1700.
How come when I deposit it in checking it will deposit only $1000 dollars that day. 3 business days later the other $500 will go in, then 5 business days later $200 will go in. BUT, if i want to cash the entire check, and deposit all $1700 into checking, its all ok? 
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Posted: 3/3/2008 3:14:21 PM EDT
[#1]
never heard of such a thing...
what does the bank have to say? |
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Posted: 3/3/2008 3:16:31 PM EDT
[#2]
Stupid check hold regulations, possibly being misapplied by your bank.
I have been out of retail banking since 1990. At the time I left (as a Systems Analyst), they could not hold any of a "good business check" (which includes payroll in general) if your account was over a year old. I'm sure things have changed since then, maybe several times. |
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Posted: 3/3/2008 3:18:19 PM EDT
[#3]
Your bank rep. could probably answer that better than anyone here could.
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Posted: 3/3/2008 3:28:02 PM EDT
[#4]
I put one in a few weeks ago for way over that. You need a new bank.
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Posted: 3/3/2008 3:52:49 PM EDT
[#5]
<---InfoSec guy for a bank.
Sounds like your banks policies for availability of deposited funds. You should be able to get clarification from any personal banker or even teller at a branch as to why x% is only available after y days, as well as if the hold period is changed after z months of account inception. It all varies from bank to bank. If you don't like their policy, head to a new one. |
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