Wednesday, May 27, 2009

Bank, schmank

I have had lots of fun with a bank snafu this weekend, and it just reminds me that there isn't always a method to someone (or something's) madness. Just because ATMs are 24-hour and you deposit money in one on Saturday afternoon does NOT mean that money is credited to your account. Oh, no, not only do you have to wait til the first business day for it to be credited to your account, but if this happens on a holiday weekend and you have shopping to do, well, too bad for you. And since it's a holiday weekend, the first business day falls on a Tuesday.

But wait, do you think on Tuesday you can finally have that money credited to your account? Of course not. Because, as the bank rep said on the phone, the funds are credited on the first business day after you deposit your money, but not until midnight, or Wednesday a.m. Which is technically the SECOND business day after you deposit those funds. Meanwhile, your account balance is in the negative digits (what???) despite the fact you just ADDED money on Saturday. Oh sure, they'll continue subtracting your transactions, silly. Of course, THAT counts immediately! But try to ADD anything to your balance and you're out of luck. Funny how that works, eh?

Sorry, I know this is a rant in the guise of a post, but I had to let it out. Ahhhh...I feel better now.

(Image courtesy


avant garde said...

banks are so in it for themselves. too bad we even need them! even at the shop, all of my credit card transactions...if people buy product and charge it on a thursday, it is not deposited in my account until monday or tuesday of the following week, they're awful. there that made me feel better too! :)

Char said...

I'm a banker and I hate banks. they are so tacky. and another secret if you didn't know....they will substract the transactions from largest to smallest (not in the order they hit) so you will be sure to have less money faster. Maegan said...

so frustrating. Direct deposit is a life-saver ...and cash. straight cash

Georgia B. said...

i HATE how banks play tricks on us like that! it angers me.

they are ruthless, if you ask me. you have to know how to beat the system when it comes to banks. erghhhhh...rrrrrrr...JERKS!