This is gonna be short and not at all sweet but I gotta get it off my chest NOW. What the Hell is up with banks? If I get a large check, even if it is from a government agency, a well known insurance agency, or another banking institution, I cannot have access to that money for ten business days. Supposedly this is so they can be sure there will be funds to cover the check. Yea, right. I know the U. S. Government is bankrupt, but they somehow manage to cover all their checks anyway and it sure doesn't take any ten days to figure that out. What the banks want is to hold your money for ten days so they can earn extraordinary amounts of interest on it before they let you use it.
So why am I hacked off? I wrote a check to the plumber yesterday for $1800.00 for the work he did in our bathroom. The work was excellent and well worth the price. However, it was 5:45 pm when I wrote that check and handed it to him. As near as I can tell banks close at 5:00 pm and they also tell you all transactions made after 2:00 pm will not post until the following day. So will someone explain to me exactly how it happens that when I logged onto my banking site this morning at 5:15 am, that $1800.00 had already been deducted from my account? No it wasn't a pending transaction. It was signed, sealed and delivered. Gone from our account, but I'm willing to bet not yet available for the plumber's use. No, it didn't overdraw my account. No, I don't have to pay any extra charges because they took the money faster than greased lightning. But it really, really irritates the stuffing outta me.
Just had to get that said.
So why am I hacked off? I wrote a check to the plumber yesterday for $1800.00 for the work he did in our bathroom. The work was excellent and well worth the price. However, it was 5:45 pm when I wrote that check and handed it to him. As near as I can tell banks close at 5:00 pm and they also tell you all transactions made after 2:00 pm will not post until the following day. So will someone explain to me exactly how it happens that when I logged onto my banking site this morning at 5:15 am, that $1800.00 had already been deducted from my account? No it wasn't a pending transaction. It was signed, sealed and delivered. Gone from our account, but I'm willing to bet not yet available for the plumber's use. No, it didn't overdraw my account. No, I don't have to pay any extra charges because they took the money faster than greased lightning. But it really, really irritates the stuffing outta me.
Just had to get that said.
Around here we have banks in the grocery stores that stay open later, do you have any like that around you? That would be the only way I could think the plumber could cash the check after the bank closes??
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