[TOMS1SS]

Direct deposit?

[Blue17CamaroZL1]

Originally Posted by PETRA

Any bank - even a CU - has a cutoff time for daily business. For some, its 2pm; others? EOB.

There is also the consideration of making a deposit at an ATM - is the ATM ATTACHED to the bank, or a separate entity, even if on the same grounds? In these cases, it is often serviced by a 3rd party, making the "posting" take effect even that much later.

Your primary error was that you made your deposit in an ATM after EOB. That means whatever you do - EXCEPT for withdrawals - won't be credited until the NEXT business day.

Another point to consider: Some banks post DEBITS prior to posting CREDITS - even if they came in on the SAME day! Why? Because a successful business is only successful by making money. And they make money by taking yours.

Am I siding with BOA? Not hardly because yes, they are a sucky bank. But you also have a certain obligation to yourself in demonstrating accountability for knowing your bank's specific policies. You may think a typical day ends at midnight but in the business world, that's not the case.

You mean nothing to them, but they mean everything to you (since they are in control of your money.) The sooner you accept this, the sooner you will prevent thinks like this from happening again.

Rule #1 for entering ANY business transaction: KNOW everything about who you are going into business with.

Translation? Personal accountability.

Good points. I work in finance aka stock market where people sell their shares and don't read the fine print. We have an SEC settlement period that takes 3 days before we can disburse any funds to the account owner. People will make the transaction and pay the extra for Fedex or wire transfer and think they get their money the next day.

Nope

We get at least 3 or 4 pissed off callers a day because they didn't read about that little govt period.

[Haloman1346]

I don't do direct deposit because sometimes my employer messes that up. One time a co-worker and I (who has the same last name) got each others paycheck. She has direct deposit and it was a big cluster to get it fixed.

Look, I understand that I need to put my check in the bank and you think its my fault for putting it in late. But this is the first time this has happened to me doing it this way. For nearly 4 years I put my check in Thursday night and it clears Friday. They are making me stay at a ZERO BALANCE for 4 DAYS and HOLDING 2 grand of my money.

I got paid, and I cant even fill up my tank because the bank wont put MY money in MY account. Hell I can't even go to the bank on Saturday because its closed. Its not like I can get my check back and go to Walmart or Publix to get it cashed.

And for the person who commented about BoA buying out your mortgage (Which They did that with Countrywide Homeloans), every 6 months I get phone calls telling me I am late on my mortgage because they keep stopping my automatic bill pay for my mortgage. Guaranteed every 6 months I have to argue with them to get it right.

I never thought I would be moving banks. I guess ill try Wells/Fargo? I'm going to try to see if they can even transfer my Credit Card and Mortgage, I don't want BoA to get one more penny out of me, the bastards!

[Darth Camaro]

Wells Fargo is no better. Same headache with them. They hold on to transactions and wait then they figure it out some how to rearrange the order they come in and and next thing you know the day before payday you get like 4 or 5 overdraft fees. They suck too. Threre is a Law suit in CA. over this whole thing and it is being brought up in other states also.

[monstertodd]

Another vote for USAA and Navy Federal Credit Union. As others have said, CU's are far superior to any normal bank.

BOA is a gigantic corporate conglomerate with massive amounts of debt. How else do you think they'll pay their bills and their huge advertising campaign? That's right, through fee's to the end users.

I wouldn't even think about getting an board with one of those brobdingnagian conglomerate banks. They of course, are a business. And a business in the business of making money at that.

At least CU's are user owned (sort of).

If you can meet the membership requirements for a good CU, I'd switch.

And also, switch to direct deposit. It's infinitely easier. If you must use paper checks, think about switching to a bank that will allow you to deposit checks using your smart phone or using a scanner. I do this frequently with USAA.

[ROBOSSRS]

BOA also sucks for people who have to service their atms. They have coverage on their atms until 2200. If a call comes in at 2159 we have to work on the atm until midnight.

[Iroczlover]

the day they announced they were going to charge for using the Dcards, I started the plan to move my account to BECU, that weekend We closed My sons, & daughters checking accounts with BOA & opened new ones for my son & myself with BECU.

direct depost is already set up, so as soon as I get my new checks I will be able to close the BOA account, right now it has about $11 in it lol

[Sir Nuke]

if this happened to me.....I would go out of my way to TOTALLY devoid myself from them....If possible, since you said you have your house financed thru them, I would refinance, and give me business elsewhere. The fact that they changed the way they do business without your knowledge, just shows how underhanded a bank can be.

[woolfman72]

Well in your case .. Alliant credit union might work best for you . They do not hold atm deposits. (atleast in my experiences) . They are based in Chicago so everything i always did was through online or atm. When depositing a check in an atm the funds were always available immediately .

Navy will only release the first 200 dollars of a check deposited in an atm. Usaa has a program called deposit at home (or something like that) you can scan your checks to them and then just mail the check in. But also Usaa is not a Credit Union.

[SSOOCH]

They all suck! My horror story is with Wells Fargo. A couple years back we had a little Saturn VUE that we paid off early. We took them a check for around $5k to a local branch. We made the payment. Got a receipt. Well about a month later I'm getting nasty calls from them asking why I didn't make last months payment. WTF???? They paid off the wrong car! And the other car they paid off only had a balance of $1800 so they paid off that car and sent the person a refund in the difference!!!! Talk about a saga to get that straightened out. We had to get a local investigative reporter from a local news station to get involved. It was ****ing NUTS!!! I'll never bank with Wells Fargo ever again!!

[DietCoke]

Originally Posted by woolfman72

Well in your case .. Alliant credit union might work best for you . They do not hold atm deposits. (atleast in my experiences) . They are based in Chicago so everything i always did was through online or atm. When depositing a check in an atm the funds were always available immediately .

Navy will only release the first 200 dollars of a check deposited in an atm. Usaa has a program called deposit at home (or something like that) you can scan your checks to them and then just mail the check in. But also Usaa is not a Credit Union.

Usaa is a credit union, and was founded as such, though it is not their official title (federal savings bank)

[SSE 4 2SS]

Wells Fargo Horror Story,

Got divorced, both of us signed the paperwork to close our joint checking acct... @ Wells Fargo.... I opened my own acct with only me on the signature card...

Several months later, she finds an old check book and goes to about ten different stores where she still lived and wrote obviously hot checks...

Ex is a banker and knows how they work.... she also kites money all the time.... so...

Wells Fargo bounces the checks back to the stores... they also put a NSF fee on the acct... that's closed... The stores add a hot check fee and resubmit the checks for pmt.... The bank bounces the check, and adds another NSF fee....stores add another hot check fee, and resubmit for pmt.... can you see where this going...

I resigned from a 20 year career and take my last check to the bank and ask for a balance with my new deposit... Couple thousand dollar check just deposited and my balance is less then 15 dollars... and I know I had over 4 grand before the deposit....

I went in, and questioned the branch manager, he made a few phone calls, and told me sorry, he had no idea... I had to walk out of there before I was sent to jail for assault....

I called a friend and through her got ahold of another friend....the President of Texas Wells Fargo's, executive asst... She investigated the case, and a Wells Fargo Branch in California (read computer) took the money out of my acct, based on a SS # search... They did a search and found a matching SS # on my new acct and sucked the money out to cover their loses... They were out several hundred dollars for NSF fees, and the check totals etc... when it was all added up, since some of the checks finally cleared by taking money from an active acct and putting it into a closed acct... I was out close to ten grand before it was over, in addition to going to the remaining stores and making good on the purchases, to stop the demonic cycle... At one store, a 25 dollar purchase she had made cost me several hundred dollars... I got my revenge in the end though... I was rid of her...

I closed my acct at Wells Fargo, and have banked with no one other than a Credit Union for everything I possibly could... Including my mortgage...

[mlee]

Originally Posted by DietCoke

Usaa is a credit union, and was founded as such, though it is not their official title (federal savings bank)

USAA is not a credit union and never has been. They are an SSA (subscriber savings account). This means they are owned by the members with certain insurance accounts and are not publicly owned. I get a distribution from my SSA at the end of each year. It's only similarity to a credit union is that it has rules around membership.

Currently they are open to all for Banking services other than insurance. You have to be military or decendent of military to qualify for insurance and some other benefits. But it's still BY FAR the best bank you could go with...

[woolfman72]

Originally Posted by DietCoke

Usaa is a credit union, and was founded as such, though it is not their official title (federal savings bank)

While they are not a regular bank. They are not a credit union.


A federal savings bank (FSB) is a savings and loan association federally chartered in the United States. They are chartered and regulated by the Treasury Department's Office of Thrift Supervision.