Thursday, December 15, 2011

How long does a transaction take when you deposit a check to the bank?

Two days ago I deposited a check to Bank Of America and when i checked online it says the transaction is pending. The next day I checked my online banking again and there's no record of the transaction being processed.. I wonder if it's normal or should i just call the bank to see what's wrong?|||Unless you deposit on a weekend, the amount of the check should post when the teller enters it into the computer. Some banks will hold it up to 10 days. The result is a wind fall (free money) for them as they collect the interest on your money. Join a credit union if you can. I can tell you, all of my deposits are immediately posted and available as cash for withdrawal.|||Call the bank.





They do the intake paperwork when they receive the check (or the day you manually deposit it at the bank) but their computer system won't record it being 'there' till it goes to the main bank. If a holiday or weekend is involved, it can delay things by up to 4 days. Usually it's done within 2 days. If you have questions though, just call the bank and ask if it's been approved and done.|||If you deposited the check on Saturday/Sunday, it won't post to the account until Tuesday or Wednesday. If it's during the week and before 1pm, it should post the next day, after 1 pm 2 days..

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