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1/25/2018 7:38:29 AM
Posted: 12/8/2003 4:45:24 AM EST
Why is it, when I make a withdrawl, be it at the teller, ATM, or using my debit card at a store the money is withdrawn from my account RIGHT NOW, but when I make a deposit with a teller it takes up to three or four days to show as deposited?

I made a deposit Friday morning at about 10:30 with a teller in the bank and its still isnt showing up( called them and they told me it would post at midnight tonight). I went shopping saturday and the money was withdrawn from my account 30 seconds later.

How do they continue to get away with using my $$ for free?

Anyone know of a nationwide bank that dosnt do this?

Aggrivated w/ BOA,
Link Posted: 12/8/2003 4:55:01 AM EST
[Last Edit: 12/8/2003 5:00:47 AM EST by Aimless]
Link Posted: 12/8/2003 5:00:46 AM EST
[Last Edit: 12/8/2003 5:11:39 AM EST by StariVojnik]
I used to work for a bank...banks throughout history have always played with peoples money. Thats what a bank does. It takes your money and places it in an account where it earns interest. Most banks have dealers who place overnight deals with other banks or the Federal Reserve to earn interest. Once they made a profit on your money, all accounts are then updated. Also it depends what you deposited. If you deposited a check in your account from another bank it will take 2 to 5 days (depending) to clear. The check has to be first processed by your bank, then they get messengered to a clearing house or "The Fed" where they get processed and sent bank to the original bank the check came from. This process will take anywhere between 2 and 5 days. When you withdraw your money its faster because that aspect of banking is fully computerized. hope this helps you understand the process.
Link Posted: 12/8/2003 5:13:41 AM EST
When I used Key bank if you deposited at the ATM up to $100 of what you deposited going in your account instantly. Other goes through normal process. I also think echo6 is refering to cash deposits.
Link Posted: 12/8/2003 5:23:09 AM EST
With Bank of America your funds are available immediately, even if you were to deposit a personal check from across the country.
Link Posted: 12/8/2003 5:27:02 AM EST
Originally Posted By ComputerGuy: With Bank of America your funds are available immediately, even if you were to deposit a personal check from across the country.
View Quote
Then my Bank of America branch is screwing me over. The funds deposited Friday morning was Mrs.E6's pay check that was drawn on a Bank of America account. It takes them 48-72 hours to confirm a deposit made from funds drawn from their own bank? Methinks they need to upgrade their system if they are not playing w/ my money.
Link Posted: 12/8/2003 5:38:27 AM EST
[Last Edit: 12/8/2003 5:40:07 AM EST by Q3131A]
When you write a check is it debited immediately? When you make a wire transfer into your account do they hold it? When you deposit cash into your account at the teller, do they delay the transfer? Depends on what type of transaction you are making. When you deposit a check, they must make sure it is valid before releasing the money to you. When you make a withdraw from the teller, ATM or debit card, they immediately release the money, why would you expect a delay? If you got a delay, I'll bet you would be MORE upset.
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