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Would appreciate to know experiences regarding same day debiting of paper checks.  Here is the scenario:

You have an account at Bank A and write a paper check against that account.  You then go into Bank B and deposit that check into your account there.

Under those circumstances, have you experienced a situation where the funds were debited from your account at Bank A on the same day you made your deposit at Bank B?  Am thinking here of all days being banking (business) days, no weekends or holidays involved.

I routinely experience next day debiting.  So that cannot be very interesting to anyone.  Internet references are claiming same day debiting exists.  But I have yet to experience same day debiting, which is the reason for this inquiry.  While with Check 21 same day debiting is a theoretical possibility, I'm wondering how frequently it actually is happening to real people.

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rated:
i regularly write checks to myself from my HELOC, they often post to the HELOC the same day I deposit them at a different bank.  One time I deposited one mid-morning, and mid-afternoon received a call from my HELOC to verify the check was authorized before they paid it.

It's all dependent on the bank that receives the check, in general the bigger the bank the more likely it'll be processed/presented the same day.

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I know people who still insist on writing checks everywhere they can. They are upset that they rarely get float these days. WalMart, grocery stores and other large stores routinely do Check21 same day debits. In some cases their checkout terminals do instantaneous debits.

You are more likely to see same day POS debits than in banking transactions. Financial institutions mostly are still tied to batch processing rather than transactional processing.

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btuttle said:   WalMart, grocery stores and other large stores routinely do Check21 same day debits. In some cases their checkout terminals do instantaneous debits.
 

I have little patience for someone who writes a check at a store anymore. I'm glad they're doing same day debit; maybe these people will start using their debit card instead and save us all in line some time. 

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btuttle said:   I know people who still insist on writing checks everywhere they can. They are upset that they rarely get float these days. WalMart, grocery stores and other large stores routinely do Check21 same day debits. In some cases their checkout terminals do instantaneous debits.

You are more likely to see same day POS debits than in banking transactions. Financial institutions mostly are still tied to batch processing rather than transactional processing.

  
Check21 is where a financial institution converts a paper check to an electronic check (scanned image).

WalMart and other retailers are more likely to convert the paper check to an ACH pull which can go through the same day easily, but your bank won't have a check image because there never was one.  Most cashiers will hand the paper check back to you after they scan, other stores will shred it.

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Same-day check presentment has caught me off guard a couple of times in the past. As far back as about five years ago, a check I deposited at Fidelity Investments was presented at the paying bank (Citibank) on the same day and was the first time I ever saw a paper check debited the same day. Now, I have accounts at PNC Bank and Citibank. When I write a PNC check and deposit it at Citibank, it usually is debited from my PNC account the same day, although once, a few weeks ago, I noticed the same process took one banking day to process. I don't know why it's inconsistent.

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Stubtify said:   
btuttle said:   WalMart, grocery stores and other large stores routinely do Check21 same day debits. In some cases their checkout terminals do instantaneous debits.
I have little patience for someone who writes a check at a store anymore. I'm glad they're doing same day debit; maybe these people will start using their debit card instead and save us all in line some time. 

  Tangential to the thread but I agree.  I wouldn't be nearly as annoyed if the individual filled out the check aside from the total amount while the cashier was ringing up, but invariably the person waits for the total to fill out the whole check.  I don't get it.

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Can now offer my own data point:

Presented check at branch office of a CU located in southern half of NJ

Check drawn on CU located in upstate NY

Size of check:  Really quite large.  Very large

Date and time of presentation:  Monday 21 November after 4:00 pm

Date and time of debiting:  Wednesday 23 November circa 9:30 am

I did move funds to cover the check back on 21 November to allow for possibility of same day debiting.  It was impossible for me, back at that time, to predict the outcome I've just reported to you.  My inability to know in advance when the check would be debited cost me two days' interest;  not a complaint, merely an observation.  The "courtesy pay" fee at the upstate NY CU is thirty bucks, so as things turned out I did the right thing.  Now at Alliant, for example, that same fee is only three bucks.  But this transaction was not going down at Alliant.  Had it been I quite likely would have taken a different tack.

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I have heard stories of checks written to the State of Illinois being dropped in the mail in the morning and being debited from the account in the afternoon.

I'm guessing they have an arrangement with the post office to enable that.

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Back when checking accounts had higher rates I noticed that regardless of when a check was presented the money was considered pulled out as of the date written on the check.

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