Deposit Availability

[sefnfot]

What is the name of your state (only U.S. law)?

 

[sandyclaus]

What is the name of your state (only U.S. law)?

Based solely on the title of your thread, I can say this...

Availability of deposits is based upon the form of the deposit (cash or check), when the deposit is made, and the amount of the deposit, and can vary between different financial institutions.

Generally, if it is a check deposit, the bank may withhold the deposit at least a day or so before making the money available to you. Most will allow you to access the first $100 within a short time, but not always (depending on the bank's policies). If the check is from out of state, it can take even longer to process the deposit (a week or more) in order to verify funds and the validity of the check.

Did you have a specific question?

 

[sefnfot]

What is the name of your state (only U.S. law)? In CA , account is originated in PA

I made a $4000 deposit yesterday with a bank of america ATM in california with three our four checks.

Then today I made another deposit in checks at an actual bank teller also with several checks, and the deposit receipt states -0- available now.

I routinly have made these deposits for several years.

These may seem minor, but it is part of a bigger issue that I am preparing against BOA

 

[sefnfot]

Smart phone didn't post my original question

Based solely on the title of your thread, I can say this...

Availability

Did you have a specific question?

Smart phone didn't post my original question

 

[ecmst12]

Your bank should tell you what their policy is on availability of deposits. Up to 72 hours is common and it may be legal for even longer than that.

 

[FlyingRon]

Your bank should tell you what their policy is on availability of deposits. Up to 72 hours is common and it may be legal for even longer than that.

There are statutory minimums that depend on what the nature of the draft is and what your banking history is.
Your bank should have their policy about what they may provide beyond the statutory minimums.
Summary is available here: http://en.wikipedia.org/wiki/Expedited_Funds_Availability_Act

 

[Antigone*]

What is the name of your state (only U.S. law)? In CA , account is originated in PA

I made a $4000 deposit yesterday with a bank of america ATM in california with three our four checks.

Then today I made another deposit in checks at an actual bank teller also with several checks, and the deposit receipt states -0- available now.

I routinly have made these deposits for several years.

These may seem minor, but it is part of a bigger issue that I am preparing against BOA

At what time yesterday did you make the deposit? Typically $100 is made available immediately, however, if your account has a negative balance, you may not get availability to the funds right away. Did you speak to someone at the banking center about your issue? So what is your bigger issue?

 

[sandyclaus]

Another thing to consider... OP says that the account originated in PA, and she deposited the checks in a Bank of America ATM in California.

OP, do you BANK with Bank of America, or do you bank at another bank in PA, and they use Bank of America as an affiliate bank to accept deposits here?

There is a reason why I'm asking... I used to bank with an internet bank that, by it's very design, had no local branches anywhere. I could deposit money in several ways - by direct deposit (of course), by mailing in my deposits (very slow, due to mail time, then time to clear the out-of-state checks), and finally they started an affiliation with local banks to accept their deposits via their ATM systems. When I made deposits through my local ATMs, there was STILL a delay in posting due to the fact that the local bank took extra caution to verify checks before sending the transaction off to my own bank.

Wondering if this could be a reason for the delay in posting?

 

[sefnfot]

There are statutory minimums that depend on what the nature of the draft is and what your banking history is.
Your bank should have their policy about what they may provide beyond the statutory minimums.
Summary is available here: http://en.wikipedia.org/wiki/Expedited_Funds_Availability_Act

i believe the statutory minimum wasnt given.

 

[sefnfot]

At what time yesterday did you make the deposit? Typically $100 is made available immediately, however, if your account has a negative balance, you may not get availability to the funds right away. Did you speak to someone at the banking center about your issue? So what is your bigger issue?

I had a positive balance for the entire period +$1000.
I tried to wait to speak to someone but I waited for 10 minutes without anyone coming over to assist me. The teller stated it was because I had an out of state (originated ) account. However, I have been doing this for the past year.

(bigger issue: I tried opening a new account with BoA online. And when BoA called me to verify my identity they asked me inappropriate questions unrelated to me specifically but instead they asked questions about other distant family members ( an aunts location ) . Things that I never provided to them. And I was denied service based on their violation of privacy actions. My attourney said that the questions that were asked were improper and sounded like some sort of scam. But then I contacted BoA to confirm if the questions were in fact within their policy and they confirmed that it was.-this is just a summary as I am putting it together as a complaint)

 

[Zigner]

I had a positive balance for the entire period +$1000.
I tried to wait to speak to someone but I waited for 10 minutes without anyone coming over to assist me. The teller stated it was because I had an out of state (originated ) account. However, I have been doing this for the past year.

(bigger issue: I tried opening a new account with BoA online. And when BoA called me to verify my identity they asked me inappropriate questions unrelated to me specifically but instead they asked questions about other distant family members ( an aunts location ) . Things that I never provided to them. And I was denied service based on their violation of privacy actions. My attourney said that the questions that were asked were improper and sounded like some sort of scam. But then I contacted BoA to confirm if the questions were in fact within their policy and they confirmed that it was.-this is just a summary as I am putting it together as a complaint)

A complaint to whom and about what?

It sounds to me like your account has a hold placed on it to investigate what may be fraudulent activity. I'm sorry that 10 minutes is too long for you to wait. Perhaps you ought to bank elsewhere...

 

[sefnfot]

Another thing to consider... OP says that the account originated in PA, and she deposited the checks in a Bank of America ATM in California.

OP, do you BANK with Bank of America, or do you bank at another bank in PA, and they use Bank of America as an affiliate bank to accept deposits here?

Wondering if this could be a reason for the delay in posting?

It is only a BoA account.
I have 2 accounts with BoA, one in CA one from PA.