[ClorrerVeks]

Go with Wachovia if you have one locally I've been with them for 5 years now and I've been treated like a king, have a problem? they will be the 1st to offer a REAL solution. It may just be the staff at my Wachovia thats so good and i can only assume that this kind of service is offered at all of their locations.

Wachovia also has the waiting period just like what the OP is complaining about.

I bank with Wachovia as well, been with them for over 10 years. But not for much longer. They do some things that annoy me. Like if you try paying for something online but make a mistake (like putting in the wrong zip code), Wachovia will still take the money out and put it in a "holds" area which lowers your available balance temporarily. And I have had to call their tech department on occasion to try and figure out why my company can't access their bank accounts online, which turns out that Wachovia only fully supports IE7. IE8, Firefox, chrome, etc are not officially supported and they won't lift a finger to support them.

So I'm switching to USAA which gives interest on checking accounts, free checks, refunds atm fees charged by other banks, and you can even deposit checks online if you have a scanner which uses twain drivers, and they don't have the waiting period. Wachovia doesn't do any of that.

[easypokergonj]

Whilst it may be a minor inconvenience - and you really should be leaving a cushion for payments - you must realise that there was a huge problem a few years back with people depositing fraudulent checques and drawing on them immediately, before the banks were able to verify the cheques were good.
In some ways, this dalay to verify the cheque is good is a good thing as otherwise it would just be added to the overheads charged against your account in fees.
There is also the point that for cheques drawn from other banks, there may be a delay for those funds to be transferred to your bank.

There is another form of cheque fraud where a small amount is deposited (usually by a badcheque) to open an account and a cheque book is supplied, the fraudster uses this to purchase items that will never be paid for.

[vNQmO2BF]

are you sure it is 24 hrs? I use chase and as long as i deposit by3pm (excluding saturday) the mony will hit my account after midnight. This is how it is for both my personal and business account/

As to the direct deposit. I don't understand this fascination you have with standing in line to deposit your check. Direct deposit is a wonderful experience. Instead of dealing with a bank on friday, when you wake up friday the money is already in your bank.

[PhotoSHOPadob]

are you sure it is 24 hrs? I use chase and as long as i deposit by3pm (excluding saturday) the mony will hit my account after midnight. This is how it is for both my personal and business account/

As to the direct deposit. I don't understand this fascination you have with standing in line to deposit your check. Direct deposit is a wonderful experience. Instead of dealing with a bank on friday, when you wake up friday the money is already in your bank.

well tbh ive never had to wait for more then 1 person at the bank so that was never an issue, i guess i like the physical reciept and everything.

and they said it was 24 hours and its 2:03 am and its no there yet so im going with the 24 hours thing.

i think i may look into DD now as i dont have too many options it seems.
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[ggiifdfalls]

I don't ever have that problem at all.. and I can deal with some fairly large funds. Sometimes though when my bank is dealing with a different bank they will call to verify funds on a check I am depositing but otherwise not a problem. If I deposit in a insta-teller tho. OUCH! $1000 is available imediately the rest is held for 6 business days. Doesn't matter weather I deposited cash, check (from the same branch or whatever) it's held.

[TerriLS]

It's not that they don't believe you. It's that they don't believe the person signing the check. You have no power to guarantee that the account on which the check is drawn has funds so it doesn't matter how long you have been banking with them or anything else. They need to make sure the money is there before they give it to you. This isn't screwing. Screwing is what they do to you when you draw on an underfunded account because the check you deposited bounced.

I can't think of a bank in the world that doesn't have a holding period on deposits. Even money orders. Even cash deposited at an ATM. Basically, everything you deposit has to be verified as authentic and properly funded. If it's cash in an ATM, someone has to open the envelope you put in and check that the funds you claim to have deposited are there. That takes time. If it's a check drawn on another institution, it will probably take more time than anything else because the check goes through a clearing house... Physically. The only things that would be able to draw on immediately would be cash deposited at a teller, money orders issued by the same bank or checks issued by the same branch of the same bank.

I can't understand why you wouldn't want to use direct deposit. It's cleared electronically so when it's deposited, it's actually there. You'll still get a pay stub from your employer and you can verify the deposit immediately either at an ATM or by online banking. Don't get stuck doing things the way you've always done them simply because it's the way you've always done them. That's a crap excuse for anything.

[Sydrothcoathy]

be grateful... in the UK you can wait 3 to 5 days before your bank will clear a cheque.

[OgrGlgHu]

LOL. I'm with NatWest (one of the big five banks in the UK) and it takes 5 days for a cheque to clear. They are antiquated things anyway. Why not just do a money transfer with online banking?

[OWV9LSxH]

Cheques are old hat. I can't remember the last time I received or gave out a cheque.

[dolaBeetCeage]

(I'm in the US)I think DD is great... When pay day comes doing the weekdays, I get it right on that day. And I get to use all of it. If I go and deposit it, I only get to use few hundred, and have to wait 1-2 days. For new account I think the first 2 deposit is slower.. after that it is on hyper drive.

I use CapitalOne. My vote is double D

[PhotoSHOPadob]

i realize checks are very old school but i guess im just an old bugger in that way that i like to actually go get the check from work and all that. but if DD allows me to access my money right away i will just do that. being a full time student and a part time worker, that 24 hours of the check clearing is critical!
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[Domovoy]

Direct deposit is great. Every other Friday, I wake up and there's magically money in my bank account (as long as I stay working, of course ). As others have said, the money is available to use or transfer immediately.
I haven't had to cash a paycheck in over a year now. I seldom have to go to the bank.

[ThisIsOK]

Just use direct deposit bud, ull actually get paid at midnite, so ull actually have the money before u even wake up

[PhotoSHOPadob]

after depositing my check for the first time today at the new chase (former wamu) they said it will take 24 hours for my money to be deposited. when i check online it says i have X amount of money (that was there before) and i have a credit of my check waiting to be deposited. this makes me so irrate that its not even funny, but wait there is a solution! direct deposit allows me to get the money instantly however i do not like the idea of DD because i want to do it myself, always have.

now when i deposit a check i can not get money back from it.... until this 24 hour period. WTF chase, this is about the 4th time you have ****ed me over since this switch which was supposed to be 'no changes'.

too bad BOA ****ed me over in the past too, now i dunno who to go with :/
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[QHdy5Z3A]

Try a different credit union. I use patelco and they have been fantastic.

[PhotoSHOPadob]

Try a different credit union. I use patelco and they have been fantastic.

ya im looking at my options right now. we have texans credit union real close to me and my parents use it. just if i go out of state there will be no locations (which sucks about small banks)
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[Agitoligflise]

I've always found that locally and regionally owned credit unions tend to take care of their members a lot better than the corporate behemoths.

[Belindanan]

Go with Wachovia if you have one locally I've been with them for 5 years now and I've been treated like a king, have a problem? they will be the 1st to offer a REAL solution. It may just be the staff at my Wachovia thats so good and i can only assume that this kind of service is offered at all of their locations.

[horaAppagob]

It's pretty common among banks to hold checks for 24 hours. My wife's bank does it too. My credit union gives me my $ instantly.

Chase blows anyway. They more than doubled the interest rate on my credit card after the new CC legislation was passed. Gotta pay that crap off ASAP now.