Posted by bucky [108.162.221.151] on Wednesday, July 07, 2021 at 23:44:08 :
How long are you guys having to wait before your bank let's you have access to funds from your account that was deposited via out of state check? via electronic transfer?
Backdrop: (A) On Wednesday June 23 I transferred money from my savings account into my mother's checking account (different bank) to cover an auto-draft that was to occur the following day, June 24. Well her crafty little bank put a "3 day hold" on the ELECTRONIC transfer, stating this was needed to guarantee the funds were "good". The funds disappeared from my account June 23, but were not available for her use until Tuesday July 29, 6 days later. Of course this resulted in an NSF on the auto-drafted item, which was returned UNPAID, and then the bank helped themselves to a $36 fee. Also a check went through the same day which they returned it as well & charged a second $36 fee, even though the account had enough funds to cover it PRIOR to the transfer. They stated that the auto-draft (it was the larger of the two transactions) came first which resulted in the second transaction being NSF too.
(B) On Thursday July 1, my mother received a $3000+ pension check, for the 3 months back pension owed since my dad passed in February. She deposited it that same day, July 1. On Tuesday July 6th they informed her since it was a large check from an out of state bank, she would not have access to the money until Tuesday July 13......yes 13 days.
Today she fought with them for 2 hours. They finally forked over the cash for the pension check, she closed her account & went down the street to open another at a different institution.
I would still like to go back to the first bank & squeeze out a few of them $36 fees they have been hitting her with.
Bucky
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