#1 Consumer Comment
AUTHOR: Lauri - Jacksonville (U.S.A.)
SUBMITTED: Thursday, October 13, 2005
POSTED: Thursday, October 13, 2005
Your report isn't specific enough for the complaint you want to lodge.
If you did your deposit before 2pm local time with a teller, the teller would have disclosed any holds placed on the account and for how long.
If you deposited through an ATM or night drop box, then of course there is a delay in the crediting of your account.
Just because your check was from a lawfirm DOES not mean that it was bonded! It's a payroll check or trust account check, plain and simple.
The fact that you wrote checks based on when you THOUGHT the money SHOULD be available is your fault. It's your responsibility to ASK questions, especially if the transaction wasn't a normal payroll deposit.
If you had worked at a bank, then you would KNOW that uncollected funds happens ALL the time. Just in case you weren't aware...it's when a deposit has been made, but hasn't cleared....so it's NOT $$ that is available.
You messed up. Quit whining and crying, because you'd have gotten the same answer from any bank or credit union.
#2 Consumer Comment
AUTHOR: Ken - Randolph (U.S.A.)
SUBMITTED: Thursday, October 13, 2005
POSTED: Thursday, October 13, 2005
No such thing. Unless the check you deposited was drawn on US Bank, they had no obligation, nor is it likely that they would give you immediate credit. Think about it... with a good printer and software, I could reproduce that check exactly, and it wouldn't be worth a thing.
And don't think that type of thing doesn't happen. In the past year banks have lost a fortune on counterfeit postal money orders.
Basically what Bill Williamson told you is true, no bank anywhere will give you immediate credit on a check that isn't theirs. Even if they had 100% confidence that the check would clear, the money is still in another bank, not in your bank. In effect, you expected them to float you a 'loan' for that amount of money until they collected it. It just doesn't work that way.
#3 Update By Author
AUTHOR: Jodi - Reynoldsburg (U.S.A.)
SUBMITTED: Friday, October 14, 2005
POSTED: Friday, October 14, 2005
This deposit was made at a drive thru with a teller at 11am. There were no checks written on money that wasnt deposited. This was atm charges on the amount that they showed to be available. And the check was a BONDED check thru my employer.
To my understanding that is the same as a guarenteed check. And instead of making the remainder of the check available the next business day it was the next evening? So it wasnt available for over 24 hours?
I have had other bank accounts in my lifetime and never had this kind of treatment from customer service when asking why nor has it ever taken so long to get money from any kind of deposit posted.
I have been with them for a year. I have also researched some of the complaints against them on the web. (something I should have done before I opened the account) I am not the only person to ever experience this problem with them.
#4 Consumer Comment
AUTHOR: Ken - Randolph (U.S.A.)
SUBMITTED: Friday, October 14, 2005
POSTED: Friday, October 14, 2005
Jodi, even if you type in ALL CAPS there is still no such thing. The only time you can ever count on immediate credit is when you deposit cash, or a (good) check drawn on the bank into which you are depositing. Otherwise, the check has to clear.
Federal guidelines dictate what your rights are, and the bank's responsibilities for clearing and making funds available. They also dictate that you be given written notice if an unusual hold is being imposed for some reason. If you didn't get this, your deposit just had a normal hold, for clearing purposes.
At any given time your bank will reflect at least two balances on your account, Ledger The amount in the account) and Available (which is obvious). It is important that you are aware in advance which balance you are being given when you make an inquiry. Some banks will only tell you available, in order to not have you overdraw, others will only give Ledger, because people freak when they can't balance against the number they were given. So it behooves you to ask whatever bank you choose which balance they quote. One more tip, if they are going to hold for (say) two days, make sure you know if they are calendar days, or business days.
Your best weapon is to be educated in how it all works.
#5 Update By Author
AUTHOR: Jodi - Reynoldsburg (U.S.A.)
SUBMITTED: Friday, October 14, 2005
POSTED: Friday, October 14, 2005
Ken,
Thanks for your advice. Once again, my biggest gripe is in the way the "customer" service department talked to me. I didn't realize that treating a question professionally was so hard to do.
And also there are two different ledgers on line. One is showing and the other you have to click on the first to show the actual available balance.
And on deposits, it just depends, sometimes it is next business day when done before a certain time. And sometimes it is the day after that, again according to the time it is deposited.
According to the bank reps, it depends on the bank and who enters them and when. I guess, as a customer, I need something more deffinate than, it just depends on who is entering the information.
Quite frankly, what it comes down to is that I truly was appalled at the way I was talked to from the "customer service" representatives. And how it was handled from that point on was in my opinion nasty.
Everone has an opinion, but to me, customer service is lacking in most companies today. But this was the worst that I have ever experienced personally.
Even collectors have rules of ethics and how to talk to people. Shouldn't customer support?
As you stated, being fully aware is my best defense. And I will be fully aware from now on. As far as US Bank, I will never have any dealing with them again based solely on their lack of customer service.
The last person I talked to may have been rude, just as rude as the others, but at least he explained WHY it happened in a way that I understood when it was posted and why it wasnt posted till then and why Bonded means nothing to their bank.
I have no problem going back to my old bank where I had been for 5 years without incident. I just moved and wanted something closer to my new home.
I guess the old saying is right. If it aint broke, dont fix it.
Again, thanks for your advice and information.
#6 Consumer Comment
AUTHOR: Ken - Randolph (U.S.A.)
SUBMITTED: Friday, October 14, 2005
POSTED: Friday, October 14, 2005
It is clearly lacking in your case, and you are justified in being upset with the way you were treated.
As to the part about 'who enters it', what I believe the meant to say is that the tellers have a small amount of latitude in placing the holds (or not placing them). If the teller recognizes the check as a payroll, and based on past experience they know that it is a 'good' payroll check, they will often give overnight availability as a courtesy to you. If they are not familiar with that particular check, they will likely apply the default holds based on the Routing & Transit number on the check. (which indicates how long it will take to clear).
You are never out of line by asking the teller 'When will these funds be available to me?' Often, when they know it is an issue, they can expedite availability.
As a general rule, you will get all the same banking services, but much better Customer Service (MEMBER Service!) at a Credit Union. If one is near you, take a look at what they offer.
#7 Employee
AUTHOR: Cj - Milwaukee (U.S.A.)
SUBMITTED: Monday, October 17, 2005
POSTED: Monday, October 17, 2005
Banks are prudent in not making non-cash deposits readily available. Which is why US Bank is one of the more profitable banks in America. This may be a news flash to some, but people bounce checks in America. All kind of checks. The bank has to protect itself as much as possible against bogus checks. People open bank accounts with fraudulent information everyday, with funds drawn on tapped out, empty or just non existent accounts. A good rule of thumb is to expect any moneys deposited into your account to be fully available 2 business days later. Then you should not have too many problems.
Why file a report here? Ripoff Report is a permanent record! Other complaint sites copy our content then remove reports for money.
