Question by Davie: Why does it take two business days for an over the counter deposit to post to your checking account?
I deposited my check on Saturday morning. I had an overdraft fee which was easily covered. My check was 287.00. When I checked my account online that night, it said 100.00 was credited to my account, and 48.00 of that was used to cover the overdraft fee. Monday night came, and I bought something to eat thinking I had enough in the bank to cover it. Well, my insurance debit went through and I ended up with an overdraft charge for that. Next, I had an overdraft charge for that too. I had overdraft charges for several other things, and now I know I’m gonna be in the red by 123.00. Why in the heck do they post 100.00 to your account then post the check as a regular over the counter account two days later? It’s not like I have to wait two days to get my money when I go to cash my check over at the same bank. It’s theft. I won’t be able to pay for a stupid parking ticket over this, because the little money I have left from my next check has to go toward my phone bill. It’s like they pay for your lunch at McDonalds, then they charge you upteen hundred percent interest on the “loan.” They’ve stolen my money from me. I know I originally asked about why they wait two days, and that’s the question I want answered, as it may explain if I have a case or not if I take them to court.

Best answer:

Answer by intheleast
Now that you understand how it works, don’t spend the money before it is in the bank.

Read the agreement you signed when you selected that bank. The agreements are basically all the same.

You have no grounds to go to court. Even if you did, since you don’t have the money for a McDonald’s burger, you couldn’t afford to hire an attorney either.

Every bank in the USA operates on the same system. It’s nothing new. It may be aggravating, but it used to take 5 business days before the money would be in your account!

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