Complaint Review: WACHOVIA BANK - CHARLOTTE North Carolina
- WACHOVIA BANK WACHOVIA.COM CHARLOTTE, North Carolina U.S.A.
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- Category: Banks
WACHOVIA BANK CASH DEPOSIT NOT AVAILABLE IMMEDIATELY RIPOFF CHARLOTTE North Carolina
*Consumer Comment: Wow
*Consumer Comment: the whole story
*UPDATE Employee: What's The Whole Story?
*Author of original report: Update
*Author of original report: Update
*Author of original report: Update
*Author of original report: Update
*Consumer Comment: In Response...
*Consumer Comment: I Too Know Of Bank Ripoffs
*Consumer Suggestion: Shop Around
*Consumer Comment: Just because the bank is open on saturday doesn't make it a business day...
*Consumer Comment: duh...
*Consumer Comment: I understand
*Consumer Comment: Tawanna go to a credit union
*Author of original report: Thanks for comments
*Consumer Comment: You have to understand...
*Consumer Comment: You have to understand...
*Consumer Comment: You have to understand...
*Consumer Comment: You have to understand...
*Consumer Comment: You did the right thing.....
*Consumer Suggestion: They held cash deposited at a teller?
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Tawanna
CHARLOTTE, North Carolina
U.S.A.
This report was posted on Ripoff Report on 06/16/2006 09:19 AM and is a permanent record located here: https://www.ripoffreport.com/reports/wachovia-bank/charlotte-north-carolina/wachovia-bank-cash-deposit-not-available-immediately-ripoff-charlotte-north-carolina-196717. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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#21 Consumer Comment
Wow
AUTHOR: avilleneuve2012 - (United States of America)
SUBMITTED: Saturday, February 25, 2012
For those who do not take time to fully understand the schedule of fees and policies that are given to them at the time they ope the account will probably have problems at some point if they do not properly manage their funds. The major cause of NSF or Overdraft is failure to keep accurate records. I have experienced NSF and Overdraft and it was, both times, attributed to my failure to accurately keep records or a mistake in accounting on MY behalf.
Suggestion, keep an accurate WRITTEN record of all deposits and expendatures on your account - EVEN IF YOU ARE WITH A CREDIT UNION. Yes, I had NSF's on my CREDIT UNION acocunt. I thought a deposit should have posted and it didn't due to a hold (Reg CC) and rather than close my account and yell like a child at the Teller or Cust Svc person, I educated myself in order to NOT have that issue in the future.
It doesn't matter what bank or credit union you go to, unless you understand the process and most imortantly, keep accurate records recording ALL credits and debits to your account and take into account any holds that may be placed, you will have problems.
I would like to know more information about THIS particular transaction. What was the balance on Saturday? What transactions were pending? How many gas purchases were pending? What checks were written? What transactions were performed by this lady between Saturday and the following Friday when she had all the problems?
Lesson - Know the policies and proceddures. They are given to EVERYONE who opens an account with a bank or credit union.
Chances are, anyone who has problems with NSF or OD at one bank, I bet within the next year, we can see that same perosn on RipOffReport.com complaining about the next bank they go to...unless it's one of those tiny little community banks that still processes things in-house and will call you if you are pending an NSF or OD. That's my suggestion...go find one of those.
I keep hearing that Saturday is not a business day so why are the banks open on Saturday, the bank process does not close, a check can post to your account 12am Sunday, that means someone is working, so I think it is bologna that my cash deposit could not be processed until Tuesday morning, the money was verified because they have to cash out at the end of the day, so it was a matter of pushing a button on a computer. I will not accept a hold on my cash, and I didnt so I just moved my business elsewhere. Thank you for all your comments.
I keep hearing that Saturday is not a business day so why are the banks open on Saturday, the bank process does not close, a check can post to your account 12am Sunday, that means someone is working, so I think it is bologna that my cash deposit could not be processed until Tuesday morning, the money was verified because they have to cash out at the end of the day, so it was a matter of pushing a button on a computer. I will not accept a hold on my cash, and I didnt so I just moved my business elsewhere. Thank you for all your comments.
I keep hearing that Saturday is not a business day so why are the banks open on Saturday, the bank process does not close, a check can post to your account 12am Sunday, that means someone is working, so I think it is bologna that my cash deposit could not be processed until Tuesday morning, the money was verified because they have to cash out at the end of the day, so it was a matter of pushing a button on a computer. I will not accept a hold on my cash, and I didnt so I just moved my business elsewhere. Thank you for all your comments.
I keep hearing that Saturday is not a business day so why are the banks open on Saturday, the bank process does not close, a check can post to your account 12am Sunday, that means someone is working, so I think it is bologna that my cash deposit could not be processed until Tuesday morning, the money was verified because they have to cash out at the end of the day, so it was a matter of pushing a button on a computer. I will not accept a hold on my cash, and I didnt so I just moved my business elsewhere. Thank you for all your comments.
Cash immediately and checks with that nights processing (unless a hold is placed) which will be available the next morning and will cover items coming in that night. However a deposit after cut of time will not process until the next business days night.
Let me explain why: At the 2:00pm cut off time all credit, debits, etc get picked up (now by armored car) and sent to a central location for processing. All those items are processed for that night and will cover items coming in. All deposits made after the cut off time are not picked up for processing until the next business day (along with all the deposits that were made before cut off time that day) and sent to central processing.
Central processing enters in all the transactions and they process electronically that night between 12:00am-7:30pm Monday thru Friday. So since banks (and the Federal Reserve) do not consider Saturday a banking day, those deposits would be picked up Monday will all the deposits made before cut off time and be sent for processing that day, making the funds available first thing Tuesday morning.
I too, wish they made cash available immediately, as it would cut down on a lot of misunderstanding about cut of times. I was informed however the last time I called, this is something they are working to put into place, along with ATM machine's that scan the money when it is entered, counts it and credits it for that day. Although this can be avoided by educating yourself on your banks policies, when it comes to immediate availably of cash, the only places that guarantee it are credit unions.
#13 Consumer Comment
I Too Know Of Bank Ripoffs
AUTHOR: Thomas - (U.S.A.)
SUBMITTED: Monday, June 26, 2006
However, were there any restrictions on your account? When you made the initial case deposit, was your account balance negative?
#11 Consumer Comment
Just because the bank is open on saturday doesn't make it a business day...
AUTHOR: Leticia - (U.S.A.)
SUBMITTED: Sunday, June 25, 2006
So I would blame the teller for NOT telling you the truth. Not the entire bank. Since my teller (at a different nationwide bank) told me exactly what to expect from a Saturday deposit.
If you deposit outside of business hours, it takes at least one business day before the money is deposited, and Saturday is not considered a business day.
I remember when banks were NOT open on the weekends at all, and I'm only 30.
#8 Consumer Comment
Tawanna go to a credit union
AUTHOR: Aafes - (U.S.A.)
SUBMITTED: Saturday, June 17, 2006
Making a cash deposit, at a teller, on Saturday and not having the funds available for use until midnight MONDAY is absolutely unacceptable. The teller's drawer is counted and verified almost always the SAME DAY, and certainly no later than noon on Monday. The manager or teller supervisor has to verify the funds in the drawer match both the deposits/withdrawals and the cash issued with the drawer. You can BET it was done well in advance of midnight MONDAY.
#7 Author of original report
Thanks for comments
AUTHOR: Tawanna - (U.S.A.)
SUBMITTED: Friday, June 16, 2006
#6 Consumer Comment
You have to understand...
AUTHOR: Alastrian - (U.S.A.)
SUBMITTED: Friday, June 16, 2006
The funds, that the teller mentioned, would be available Midnight Monday, and not Monday.
She gave you a refund because you had made a deposit before, and not after, your payments processed.
Deposits are processed the next business day after 2pm in the branch and 4pm from ATMs.
The Reps will state to you that you signed an agreement if they don't have any other explanation to tell you.
If you are yelling and cursing at the Reps, they will shut there ears and just say no throughout the whole conversation. If you talk naturally, they will listen and seek any cause to solve your problem.
It doesn't matter where you come from. New York or New Mexico, all banks follow the same procedure.
#5 Consumer Comment
You have to understand...
AUTHOR: Alastrian - (U.S.A.)
SUBMITTED: Friday, June 16, 2006
The funds, that the teller mentioned, would be available Midnight Monday, and not Monday.
She gave you a refund because you had made a deposit before, and not after, your payments processed.
Deposits are processed the next business day after 2pm in the branch and 4pm from ATMs.
The Reps will state to you that you signed an agreement if they don't have any other explanation to tell you.
If you are yelling and cursing at the Reps, they will shut there ears and just say no throughout the whole conversation. If you talk naturally, they will listen and seek any cause to solve your problem.
It doesn't matter where you come from. New York or New Mexico, all banks follow the same procedure.
#4 Consumer Comment
You have to understand...
AUTHOR: Alastrian - (U.S.A.)
SUBMITTED: Friday, June 16, 2006
The funds, that the teller mentioned, would be available Midnight Monday, and not Monday.
She gave you a refund because you had made a deposit before, and not after, your payments processed.
Deposits are processed the next business day after 2pm in the branch and 4pm from ATMs.
The Reps will state to you that you signed an agreement if they don't have any other explanation to tell you.
If you are yelling and cursing at the Reps, they will shut there ears and just say no throughout the whole conversation. If you talk naturally, they will listen and seek any cause to solve your problem.
It doesn't matter where you come from. New York or New Mexico, all banks follow the same procedure.
#3 Consumer Comment
You have to understand...
AUTHOR: Alastrian - (U.S.A.)
SUBMITTED: Friday, June 16, 2006
The funds, that the teller mentioned, would be available Midnight Monday, and not Monday.
She gave you a refund because you had made a deposit before, and not after, your payments processed.
Deposits are processed the next business day after 2pm in the branch and 4pm from ATMs.
The Reps will state to you that you signed an agreement if they don't have any other explanation to tell you.
If you are yelling and cursing at the Reps, they will shut there ears and just say no throughout the whole conversation. If you talk naturally, they will listen and seek any cause to solve your problem.
It doesn't matter where you come from. New York or New Mexico, all banks follow the same procedure.
#2 Consumer Comment
You did the right thing.....
AUTHOR: D - (U.S.A.)
SUBMITTED: Friday, June 16, 2006
#1 Consumer Suggestion
They held cash deposited at a teller?
AUTHOR: Dave - (Canada)
SUBMITTED: Friday, June 16, 2006
But a cash deposit at a teller should be immediately credited to your account.
If they did that to me, I'd have changed banks too.
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