Chase - JPMorgan - Chase Bank Chase They held the funds from a local company check to generate overdraft fees on my account in the amount of $210.00. The funds were deposited on Friday and were not made available until Tuesday. Rockford, Illinois

What an a** you are. I bet Rob is sitting pretty on a million dollar brokerage and has never overdrafted his account, while your deadbeat a** is bouncing checks all over town.

I can just imagine how the Branch Manager must have felt when he was trying to see if your situation warranted a $210.00 refund.  I guess in your community you are such a stellar individual where you feel very confident in expressing your opinion that everyone else is beneath you.  Maybe if you kept out of those finer retail stores you mention, you would not live paycheck to paycheck.  Your funds were not on hold.  Judging by the date of your comment, you deposited them on a Friday. Monday was a holiday, Columbus Day, and the Federal Reserve was closed, which means the, "next day availability" edict at the bottom of your receipt would mean your funds are available on the next BUSINESS day, Tuesday.  

Regarding excessive check deposit hold times and the fees that occur from this. (and don't forget Fridays with a 3 day wekend are the worst for this to happen). Now I don't understand why they need to hold anything on a holiday or weekend..or after 4PM etc..because everything is done electronically now..so what is the bank doing?? Giving electronic systems a day off???  And where is YOUR money while the bank is "holding" it??? How long does it take for the bank to find out from the other bank if the funds are there? I will tell you how long it takes...nano seconds. I guess thier defense is in case of fraud? But that really holds no weight..since if a check is a fraud..and the bank can't tell instantly...what is waiting going to do..like I said..these transactions and verifications take nano seconds..the information travels at almost the speed of light...the information (which IS funds) could get to the moon and back in a few seconds (about 2.5 seconds)..so how long should it take to get to another bank and back??  Scam.

The thing is..that bank can legally do this..so of course they will. And it is in the customer eyes a ripoff..so reporting here was an acceptable measure.

Now it does not matter if there was never an issue before..the bank will only do things to maximize fees...they don't have a "grading" system..it's nothing personal..everyone is a target for them...but some of the tactics the banks use effect some more then others.

I hope they work with you to refund at least some of the funds..but they may not refund any.

I have found a few defenses to this issue that may help better protect your money from mistakes, fraud and bank tactics..such as excessive hold times.

One...is stop using checks..period. If you receive a check..cash it..then deposit the cash (in person NEVER deposit anything at an ATM..you may know this but some people do not).

Two..is choose to opt out of "courtesy overdraft protection" if the bank allows this. I think every bank automatically enrolls you in this service. Now sure,,there are times it can help..like if a check they cover for a payment..it would avoid the NSF fee...but..you would still get a fee for using the service anyhow...plus all the additional fees that can occur if you are allowed to spend unfettered and un-notified after your balance reaches zero..(like what it did to you..$210.00)..the bank did much better this way...right? And you did not...right? So it makes sense for some.

What time did you deposit the check and was that Monday Columbus Day?