Banking Question(Whitney)

Most of my deposits seem like they clear the next working business day. I can't think of a specific instance where it didn't, and I usually keep track of it since my checking balance usually hovers at like $30.

It depends on where the check is drawn (i.e. local bank vs. out of state bank) and the amount of the check. your deposit didn't go down to their processing center until around 3 o'clock this afternoon. If it is a local bank and not an unusually large deposit for your account you should be credited tonight. Whitney is more conservative than most banks and that is why you were not credited automatically. Nothing you processed Friday night and through the weekend will actually go through until this evening and deposits are the first thing to be credited to an account.

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So what does it mean when you make a deposit before 3pm deposit "posts same day" and after 3 "posts next business day"?

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It will post "today". That might be at 11:59 p.m. "today". Basically, it will be run with all those deposits and checks received today. After 3 p.m., it isn't sent to processing until tomorrow.

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It will post "today". That might be at 11:59 p.m. "today". Basically, it will be run with all those deposits and checks received today. After 3 p.m., it isn't sent to processing until tomorrow.

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Ok... so my Sat deposit posted sometime between 6pm and 11:59pm monday... Do any local banks NOT do this or this is common no matter what bank I use?

i have whitney and i'm about to change because of shite like this. it wont get any better. they piss me off all the time.

Yeah I know what you mean about whitney... I've been with them going on 20yrs and the reason I put up with them was because I was on a first name basis with the branch manager which got me some service at times.

Now that branch is closing/moving due to the Parish National buy and now I have little use for them. So I ask this question:

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Do any local banks NOT do this or this is common no matter what bank I use?

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If it is common procedure then there is really no point in my moving my money out and going through the bullcrap of changing all the auto pays snd deposits.

I ask specifically about Capital One because I was impressed with their credit card customer service when my credit card account was stolen and being used in England. It was resolved quickly and with minimal effort. Plus their branch locations are very convenient for me.

Edit: Thanks for that info saw 36... that helps. I assume the posting and clearing would be tighter if I was with the same bank from where the checks were coming from.

Ok... then the sign should read "posts same day but don't expect to use those funds until the following business day" or "after 3pm posts next business day but allow 2 business days for funds to be available".

Evidently I'm expecting too much for my funds to be available after close monday on a sat. deposit for a debit card purchase.

Hello bank marketing...

To elaborate on what saw said, there are regulations mandating the time by which deposited funds must be available to the bank's customer. These regulations, however, are only the maximum length of time that banks can wait for the deposit to 'clear' before giving its customer access to the funds. Banks may make the funds available to its customer immediately after they are deposited, but as saw said, the bank retains a right of chargeback against the customer in the unlikely event that the deposited check does not clear.

Banks may also establish a 'cutoff' time after which any deposits received are treated as being received on the next 'banking day.' This time is usually 2 or 3 P.M.

If I remember correctly, the first $100 of a deposited 'local' check should be available the first day after the day on which the check is considered deposited (consider whether it was deposited after the cutoff). The remainder is then available the second day after deposit.