Huntington Bank why is it that check 21 can instantly take money out but it takes up to 5 days to put your deposit through, ripoff! Columbus Ohio

Hey Ken, you really think that it's not in the banks best interests to hold their checks for even a day longer?  With Check 21--a bank will know fairly soon thereafter whether or not they'll be paid, and if they are, there are no reasons to put holds..except for the fact that every day a bank "holds" someones money, and thats basically everyone who deposits a checks, they are holding your money, and making an enormous amount of interest off it.  $300 bucks isn't lot but $300 million is, and the interest off $300 million in actually holdings is very profitable indeed.  And then you factor in the amount of returned checks that every bank knows "holds" leads to:  either because people aren't that bright, or they're not particularly good at explaining it to them.  And then banks will charge you fees (unless you have direct deposit and/or a minimum balance) for graciously allowing them to hold your  money, dole it back out to you slowly, charge you if you don't stick to their timetable and then make a bundle of interest off the bigger pie, and give you back if at all, some crumbs.  That's why banks are so profitable.

With the Check21 program, banks now have the option of turning a deposited item into an image and then sending the image for clearing. When the image reaches the Fed, they determine whether or not the receiving bank is capable of processing an image. (most are not, but more and more come on board each day) If they can take an image, it is sent electronically, and clears almost instantaneously. If they cannot, the image is turned back into a paper item and is processed normally.

The bank into which you deposited the item will not know which way it clears, but they do know the average time it takes to clear items (of both types), and that's how they determine hold times. As more banks clear images, the time will shorten, and holds will also shorten.

As hard as it is to believe, it doesn't benefit the bank to hold your funds longer than they need to, those funds are a liability to the bank. It also is a competitive disadvantage to hold onto funds that they cannot effectively reinvest.

Anyway, that's why some checks clear faster than some deposits.

What you have nothing better to do than sit around going through Rip off . com places? For one it is none of your business where my kid's father is. What are you one of those guys who want dinner on the table right when you get home from work? Expect your wife to do all the laundry and stay bare foot and pregnant,and also work 40 hours a week. YOU GET WITH THE PROGRAM!! Women can do things just as good as a man. Unfortunately there isnt too many real men left out there. Your right though-- I do need a serious change of attitude maybe I do feel alittle bad about this bank situation, so I will work on that. Anyways-- why cant you answer my question? If they can clear your check almost instantly--why can't they clear a check you deposit almost instantly? Exspecially when it is from a known employer from a small town who probably employees half the people in town? A business that has been around 100 years. Why should it take 5 days to clear? Why can they change the way they do things after 13 years? Without warning-- Like up until 4 months ago or so I could deposit a check on Friday (lets say with $10.00 balance in my account) and be able to use my debit or atm card all weekend long and write checks and all they would do -- is pend my transactions until my check cleared!! Every since I went through the teller instead of the atm that one weekend they bounced mega things over the weekend at $31.00 each (Whenever I used my debit card) instead of pend them as they have in the past, and when I called and got a nice person who credited everything back because the same thing happened to her and she understood. After that no matter how I put my deposit in (direct deposit--was in at 12:00am Friday morning would'nt show up until 1200 pm Friday and if I used the atm it went from posting it all to only partial posting 300.00 of 1500.00 for 5 days. All's im saying is they should'nt have the right to not be consistant, and play with other people's money. Believe me from now on I will read the fine print and I will check out all the banks before I open another account and I will watch every transaction like a hawk.

You know you're bouncing checks and don't want to pay for it. TOUGH! It's YOUR problem that you keep perpetuating, just stop bouncing checks, you're making it worse. Pay cash until you figure things out. When they come and take your car away, who's fault is it going to be, the tow-truck driver's? You're hoping that the bank is gonna feel guilty and excuse all the fees because they did it once? Where is the father of your kids and why isn't he taking care of business? You need a serious change of attitude because the "poor li'l ol me" doesn't work for women the way it used to.

There should be a section in there detailing the bank's funds availabilty policy.

My quess is that the funds weren't available for you to draw on so that was why you were charged the overdraft fees.

Here is how my bank works. If I deposit a check on Thursday night after a certain time (around 3:00 PM, but in varies from bank to bank), it will POST to my account the next business day (Friday). Now, because it posted to my account does not mean the funds are available to draw against. My bank makes the first 100 dollars of the check deposit AVAILABLE to draw against on the next business day after the deposit POSTS to my account (Monday). The remaining funds are AVAILABLE to draw against on the second or third business day after the deposit POSTS to my account (Tuesday or Wednesday).

Whichever bank you are able to open a checking account with, be sure to read the terms and conditions to understand the banks availablity policies.

Good luck.