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WTF? I deposited cash in the branch, then when I checked online the next day, only $100 was available...????

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ProBanker said: <blockquote><hr>Farish said: <blockquote><hr>Hi, I used to work for BofA many years ago, and I like to e... (more)

s0ssos (Dec. 04, 2006 @ 1:51p) |

SUCKISSTAPLES said: <blockquote><hr>Thought that was unusually generous, as I could have stuffed an empty enevlope in th... (more)

simmias (Dec. 04, 2006 @ 2:23p) |

<br><br><blockquote><hr>Let me get this straight...you deposited cash on Saturday morning and then went to the ATM and w... (more)

Monkeysan (Dec. 04, 2006 @ 2:53p) |

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Wells Fargo does this to me sometimes too.

Did you use the ATM or hand the cash to the teller?

Why dont you post this in the grocery forum?

mespin said: [Q]Did you use the ATM or hand the cash to the teller?
To the teller

BankofGreed said: [Q]Why dont you post this in the grocery forum?
d000000d....there is no grocery forum <img src="i/expressions/face-icon-small-sad.gif" border=0><img src="i/expressions/face-icon-small-sad.gif" border=0>

ProBanker said: [Q]mespin said: [Q]Did you use the ATM or hand the cash to the teller?
To the teller

What did they say when you called?

ProBanker said: [Q]mespin said: [Q]Did you use the ATM or hand the cash to the teller?
To the teller
Then that's pretty funny. Use the $100 to buy yourself a beer today.

Anyone know what time my bank closes today?

asdf9876 said: [Q]Anyone know what time my bank closes today?I don't know - but I've heard of this place called FatWallet Finance, supposedly when you make a new thread, your questions will get answered. They supposedly have customer service people from every bank and every possible branch standing by to answer questions online.

jairocon said: [Q]I don't know - but I've heard of this place called FatWallet Finance, supposedly when you make a new thread, your questions will get answered. They supposedly have customer service people from every bank and every possible branch standing by to answer questions online.Damn, that is a Hot Deal! <img src="i/expressions/face-icon-small-happy.gif" border=0>

Im just warning the kind loving FW folks that boa will hold your cash deposits

Merry F'n xmas!!

ProBanker said: [Q]Im just warning the kind loving FW folks that boa will hold your cash deposits

Merry F'n xmas!!I'm sure that there are plenty threads already discussing either B of A banking or checking account holds in general. The subject of your post doesn't exactly merit a separate thread.

ProBanker said: [Q]Im just warning the kind loving FW folks that boa will hold your cash deposits

Merry F'n xmas!!

Why are you so mean?

Did you make the deposit after 2:00? If so, the $100 credit was a courtesy to you, since ANY item deposited after the bank's cutoff for the day is technically posted the following day. Yes, even cash.

dcwilbur said: [Q]Did you make the deposit after 2:00? If so, the $100 credit was a courtesy to you, since ANY item deposited after the bank's cutoff for the day is technically posted the following day. Yes, even cash.
Thanks wilber.

I wonder how much $$ in fees that generates boa? I bet there are thousands of people who deposit cash, then get nsf fees from the hold.

Oh well, Im only in this account for the free $100 <img src="i/expressions/face-icon-small-smile.gif" border=0>

welphd said: [Q]ProBanker said: [Q]Im just warning the kind loving FW folks that boa will hold your cash deposits

Merry F'n xmas!!

Why are you so mean?
?????

How MUCH cash did you deposit? Was it a large amount? Like over $3000?

There are bank reporting rules for large cash deposits.

BOA did this to me years ago when I made a cash deposit on a Saturday morning at the teller. They confirmed it was all immediately available, but I ended up with overdraft fees from debit card usage over the weekend that I had to fight w/BOA to have removed. They ended up taking them all off except for one charged for an ATM withdrawal, which IMO was total crap, but I didn't feel the need to contest it.

phoebez said: [Q]How MUCH cash did you deposit? Was it a large amount? Like over $3000?

There are bank reporting rules for large cash deposits.
It was only $600. I thought it was illegal to put holds on cash....??

Monkeysan said: [Q]BOA did this to me years ago when I made a cash deposit on a Saturday morning at the teller. They confirmed it was all immediately available, but I ended up with overdraft fees from debit card usage over the weekend that I had to fight w/BOA to have removed. They ended up taking them all off except for one charged for an ATM withdrawal, which IMO was total crap, but I didn't feel the need to contest it.

Oh man that sucks!! Total BS

Don't like BOA. I use PNC, much much better.

phoebez said: [Q]How MUCH cash did you deposit? Was it a large amount? Like over $3000?

There are bank reporting rules for large cash deposits.

$3000 is a large amount?
i mean, even for checks $5000 is considered large, not $3000

phoebez said: [Q]

There are bank reporting rules for large cash deposits.
Yes, like over $10K for the CTR's...but there should be no hold!!!!

s0ssos said: [Q]phoebez said: [Q]How MUCH cash did you deposit? Was it a large amount? Like over $3000?

There are bank reporting rules for large cash deposits.

$3000 is a large amount?
i mean, even for checks $5000 is considered large, not $3000

I eat $3000 checks for lunch.

Would you be so kind to share your lunch with me? I didn't bring mine today

welphd said: [Q]s0ssos said: [Q]phoebez said: [Q]How MUCH cash did you deposit? Was it a large amount? Like over $3000?

There are bank reporting rules for large cash deposits.

$3000 is a large amount?
i mean, even for checks $5000 is considered large, not $3000

I eat $3000 checks for lunch.

ProBanker said: [Q]WTF? I deposited cash in the branch, then when I checked online the next day, only $100 was available...????

Take out the $100 from the ATM, and then deposit it at the branch. Go home and check to see if your available balance is zero.

LAwoodtiger said: [Q]ProBanker said: [Q]WTF? I deposited cash in the branch, then when I checked online the next day, only $100 was available...????

Take out the $100 from the ATM, and then deposit it at the branch. Go home and check to see if your available balance is zero.

lol

I mentioned $3000 in cash because, as I read the current BSA requirements, that is the amount where the banks are required to start their record keeping.

BSA Requirements


But a $600 cash deposit should not be a problem.


[welphd - Please invite me to lunch!]

ProBanker said: [Q]WTF? I deposited cash in the branch, then when I checked online the next day, only $100 was available...????


have you ever read any banks funds availability guide? this shouldn't come as a supprise.

Because BofA was not present in NY, all the accounts opened online were out of state and all cash deposits were held as if they were checks. Accounts opened at a local branch never had this problem. You need to look online when you deposits are cleared from pending.

Monkeysan said: [Q]BOA did this to me years ago when I made a cash deposit on a Saturday morning at the teller. They confirmed it was all immediately available, but I ended up with overdraft fees from debit card usage over the weekend that I had to fight w/BOA to have removed. They ended up taking them all off except for one charged for an ATM withdrawal, which IMO was total crap, but I didn't feel the need to contest it.Let me get this straight...you deposited cash on Saturday morning and then went to the ATM and withdrew it that night? Can you really not trust yourself with a twenty dollar bill in your pocket all day?

dcwilbur said: [Q]Monkeysan said: [Q]BOA did this to me years ago when I made a cash deposit on a Saturday morning at the teller. They confirmed it was all immediately available, but I ended up with overdraft fees from debit card usage over the weekend that I had to fight w/BOA to have removed. They ended up taking them all off except for one charged for an ATM withdrawal, which IMO was total crap, but I didn't feel the need to contest it.Let me get this straight...you deposited cash on Saturday morning and then went to the ATM and withdrew it that night? Can you really not trust yourself with a twenty dollar bill in your pocket all day?

Hahaha, you're right dcwilbur. I get this is the "real world" version of those people who have to log into their Emigrant Direct account 15 times a day then complain when the website is down at 2 am.

You win the internet for the day Monkeysan for your ability to deposit cash into an account and to withdraw it during the same weekend. I'd call that a lack of foresight. Even if you did unexpectedly need cash the fact that you were overdrawn means you've living hand to mouth if you had no other balances to draw on.

Also, where were you making debit card purchases that you couldn't have used the cash you deposited or used a credit card so you don't have to micromanage your cash flow?

Here's my experience with cash deposit at BofA:

- Deposit a large amount of cash at local SoCal branch at about 11AM Saturday.
- Came home and made a payment for about that much online (my fault I didn't check the balance of my checking account before doing that, assuming cash deposit has no hold at all).
- About an hour later check my checking account online to see the activities and was shocked because the cash deposit was on hold while I already made a payment online using this checking account.
- I was panic, didn't know what to do at first. Drove to the my local branch, not the one I made deposit, to find out why. They asked if I told the teller to make the cash available right away, I said I didn't know that because I though cash is available right away.
- They suggested to drive to that branch and ask for releasing the hold but it's too late to drive there because almost time to close for Saturday. So they called for me there, found my transaction and about ten minutes later, the branch is already closed, they cleared the hold technically: that means if my payment goes to my checking account and my account don't have enough fund showing online it won't bounce back and delay the processing.



Lesson learned. Since then every time I made cash deposit I always ask the teller to make it available immediately.

Bank of America is probably the only bank that I've ever experienced that does not give you same day availability of your cash. At every other bank that I've banked with, Citibank, Wells Fargo, Credit Unions, cash was always immediately credited, no matter the circumstance. Whether it was "next business day," weekend, overdrawn, large dollar amount, cash was always credited immediately. Thats why I don't like BOFA <img src="i/expressions/face-icon-small-frown.gif" border=0>

Hi, I used to work for BofA many years ago, and I like to explain how the system works in general. I also have had a bank account with them for longer.

If you make any deposit before 4pm, the first 100 is available. The rest is made available midnight that same night ahead of any debits that would of came in. If you deposit cash before 4pm you can usually ask a CSM to give you immediate credit to use for that day. Usually you only need to do this if you expect a large transaction within a short time of the deposit. Realize they will only give you immediate credit if they see you deposit cash , not check, or if you are a customer with some kind of large backing in the bank.

Even if the teller inputs you have deposited cash, you will not get immediate credit, until all the paper work is process at a central office. Yet if you are expecting a check etc to clear. That deposit will be available ahead of all debits coming in that same day if done before 4pm.

If you made any deposit after 4pm or on a weekend. It is process on the following business day. Meaning if you make a deposit saturday or sunday, it isnt process till Monday, late monday evening, meaning doesnt really clear till midnight tuesday. If you make a deposit after 4pm inside the branch on wednesday it wont be process till late evening Thursday.

Now people ask why is this the case. Well, most banks dont process transactions because the federal routing system is shut down on weekends, they also have a deadline for when they can get paperwork out by. This is common practice with all the major banks.

On cash deposits, here is how the reporting works.

Any cash deposit over 10k is reported to the IRS. It is more done track money laundering than anything else.

Any purpose of a product using cash over a certain amount, last i recall it was 5k, is reported in the same means. Basically buy a cashier's check in cash (cash is not a withdrawal from your bank account, cash is consider what is brought in over the counter), is reported.


Also if you make a deposit with large bills, the number of large bills are usually recorded in the transaction also.

Now this was the case many years ago, my understanding is that the process is still the same. If i am wrong on exact numbers, which is very possible, it is due to the fact i have been out of the loop for about 10 years.

I hope this help clear things up

I deposited a large check via ATM deposit this weekend at night, and Citibank made $50,000 available immediately.

Thought that was unusually generous, as I could have stuffed an empty enevlope in the ATM. I have not otherwise maintained big balances with citi.

SUCKISSTAPLES said: [Q]I deposited a large check via ATM deposit this weekend at night, and Citibank made $50,000 available immediately.

Thought that was unusually generous, as I could have stuffed an empty enevlope in the ATM. I have not otherwise maintained big balances with citi.
You deposited a check for >$50,000 at an ATM? I know ATMs are pretty reliable, but damn... Over $10K and I feel compelled to see a teller. But Citi is in the adjacent building to my work, so it's a minor hassle.

EDIT: Oh yeah... the point of my post was supposed to be: Citi has never placed a hold on any of my checks for any amount, although I've never given them a check larger than $20,000.

mespin said: [Q]SUCKISSTAPLES said: [Q]I deposited a large check via ATM deposit this weekend at night, and Citibank made $50,000 available immediately.

Thought that was unusually generous, as I could have stuffed an empty enevlope in the ATM. I have not otherwise maintained big balances with citi.
You put deposited a check for >$50,000 at an ATM? I know ATMs are pretty reliable, but damn... Over $10K and I feel compelled to see a teller. But Citi in the adjacent building to my work, so not like it's a big walk.

I have a number of large dollar deposits at my local Wachovia ATM with no problem. I had a similar check as SiS did with immediate credit as well. However, even though I know people that have put upwards of 8k cash in deposit at an ATM, I do not more than a few hundred. I am too worried to put in a couple K.

BTW, I have found that when I use a teller, I will get immediate credit for around 100k with them. I find that funny as I normally do not keep much a balance with them (except for when they run promotions). But, they do have my HELOCs and they may consider me a profitable customer.

Skipping 6 Messages...


[Q]Let me get this straight...you deposited cash on Saturday morning and then went to the ATM and withdrew it that night? Can you really not trust yourself with a twenty dollar bill in your pocket all day?

No, I made the deposit at a live teller in the morning, realized I would probably need a little cash on hand as I walked out of the bank and decided to just make a quick $20 withdrawal at the outside ATM instead of waiting in line again. Balance at the ATM reflected my deposit, but somehow when the transactions posted to my account on Monday, the cash deposit showed up AFTER the withdrawal and debit card uses.



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