Balance hold

2009-05-24 19:40:53

#1

TSI: Cholera in the time of love; +247|6405|Toronto

Okay, so I deposited a cheque for a grand at my bank last monday, I've spent 200 of it so far.

Now, I wanted to fill up my car today, but the pump said [limit exceeded, see your bank]. I'm puzzled. So I go to check my account, says that there's a 2 business day hold on my money. That essentially means I have 15 bucks available to me right now.

1. Why can't I access my money?
2. Why was I able to access some of it before?
3. I need to buy a present for someone tomorrow that'll cost me 200. What to do?

I like pie.

2009-05-24 22:38:34

#2

JdeFalconr: Lex Luthor, King of Australia; +72|6966|Sammamish, WA

In my experience when you deposit a check over a certain amount in an ATM (for me it's usually been $100 USD) the bank will put a hold on some of the funds until they can run the check and make sure that's actually what you put in. Also, it's possible that because you deposited $1k the bank wants to make sure the check clears properly first. You probably were able to access the portion they freed up while waiting for the rest to clear. Either that or the amount you used previous was the amount already in your account.

So, you could hope the money clears tomorrow, or maybe give the bank a call and see what they can do for you. Or you could get a credit card.

Last edited by JdeFalconr (2009-05-24 22:38:47)

2009-05-24 22:46:26

#3

Kmar: Truth is my Bitch; +5,695|7025|132 and Bush

My credit union gives me full access to the funds once I deposit a check. If you want the money right away and need to make sure it clears it's best to take it to the issuers bank and cash it. (At least over here)

Xbone Stormsurgezz

2009-05-24 23:00:01

#4

ATG: Banned; +5,233|6953|Global Command

I say the banks put a hold mostly because they know it will mess you up, you go overdrawn and they get to fee you to death.

Bastards will all be sucking the veiny cock of satan in hell if there is any justice in the universe.

2009-05-25 06:47:27

#5

TSI: Cholera in the time of love; +247|6405|Toronto

ATG wrote:
I say the banks put a hold mostly because they know it will mess you up, you go overdrawn and they get to fee you to death.

Bastards will all be sucking the veiny cock of satan in hell if there is any justice in the universe.

QFT. Thanks. I hate capitalism.

I like pie.

2009-05-25 09:55:09

#6

Jean_Peste_tu?: Yes I Do; +44|7044|Auteuil, Laval

It depends on which type of account you have.
You have to ask for it or ATG's post rules.

The one I have my mortgage attached to, doesn't make me suffer like that.
I can deposit and withdraw for the same value without problematics.

2009-05-25 09:56:46

#7

Finray: Hup! Dos, Tres, Cuatro; +2,629|6212|Catherine Black

Whenever I cash a cheque (not check) from a bank different from mine, it takes a few days to clear, but if it's from the same bank (Granny gives me moneys at christmas <3) then I can cash it and take the money right back out.

BF2S Forums Balance hold

ATG wrote:

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