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Message
re: Regions Bank and Deposit Holds
Posted on 7/27/20 at 11:05 am to go ta hell ole miss
Posted on 7/27/20 at 11:05 am to go ta hell ole miss
From what I understand if you deposit the check before 7 pm, the funds are available the next morning or the morning of the next business day. I am thinking that because I issued a written check it threw off the algorithim or whatever and triggered the action.
I'm thinking that I will simply paypal out of my business account . Stop payment on the live check and eat the fee since this was sort of my frick up indirectly
She is a reliable employee who has been with the company for 6 years and I have seen the information from Regions on the hold. A few bucks spent to ease anxiety on a good employee is good. No one should have to deal with b.s. of having almost no money for 11 days especially when they earned their money....and she did EARN that money. My business could not operate without her.
Regions is NOT gonna make overdraft fee income off her because of this. If she overspends after the check goes thtough, that is a different matter.
I'm thinking that I will simply paypal out of my business account . Stop payment on the live check and eat the fee since this was sort of my frick up indirectly
She is a reliable employee who has been with the company for 6 years and I have seen the information from Regions on the hold. A few bucks spent to ease anxiety on a good employee is good. No one should have to deal with b.s. of having almost no money for 11 days especially when they earned their money....and she did EARN that money. My business could not operate without her.
Regions is NOT gonna make overdraft fee income off her because of this. If she overspends after the check goes thtough, that is a different matter.
1
Posted on 7/27/20 at 12:29 pm to KiwiHead
My understanding, is the 11 days in the maximum they will hold the funds. If your bank clears the check sooner, Regions will release the funds sooner.
Also, most banks do not hold payroll checks. If your employee calls their bank, they may be able to explain this is a payroll check and the banks will often overwrite the hold.
Also, most banks do not hold payroll checks. If your employee calls their bank, they may be able to explain this is a payroll check and the banks will often overwrite the hold.
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