My friend and I had a discussion on transactions clearing banks using a debit card as an example.  His claim was that transactions are instantaneous and that it is all a paper or electonic transaction; no CASH is actually transferred. My argument was that the time may vary, usually about 72 hours. For example, assuming we use different banks; if he used his debit card to purchase from me, it only verifies funds are available to me, the receiver, and that it posts a transaction to his account, freezing the amount pending receipt of that amount deposited to my account.  Therefore, in order for my bank to hand me $15 in cash, it must have received $15 in cash to offset it.
203357
First be aware that Debit Cards and Check Cards are often interchanged in such discussions.  Next, know that times vary from various institutions.\n\nPersonally, the bank I work with 'brings in' debit transactions every morning.  So when a member used their card to make a purchase, the account is "Pinged" to verify it's existence, and availability of funds.  However there is no freeze or transfer until later.  Usually 24 hours or so, though sometimes longer.\n\nThere is a case I'm familar with though while working at a hotel, where if a guest paid w/a Debit Card, +20% of the bill would be 'frozen' until payment cleared.  Not sure why, but it was the stated policy of the hotel.
319561
It sounds like being paid. It's totally up to the bank. They probably thought that you had money, but forgot to transfer. In a week or so, you will receive a letter from the bank saying you need to pay them. So go ahead and transfer the money now. It's not like you wrote a bad check. They don't really hold it against you as long as you have enough money in another account.
508280
When the debit card is used as a credit card I notice that the monies are withdrawn without being earmarked.  When the card is used as a debit card (when the PIN is entered) it gets earmarked immediately and withdrawn as the payment is processed through the clearinghouse.  \n\nBut I have also noticed that when I use my debit card at a restaurant the transaction is never earmarked, it just goes through.
562898
MO should be instant. I mean someone paid cash to get it so I don't see why theres a waiting period for one to clear. bogus if you ask me.
484681
It's a bank draft Holly...It is guarenteed money...Bank's have a tendency to hold international cks longer than is needed...They make money on it while you wait....After all, we live in an instant computorized age. I would think 2 or 3 day's should be sufficient...Call a few banks and check their policies...2 to 8 week's is rediculous.... :)
140534
An ATM transaction can be recorded as a withdrawal, ATM, Cash....etc  Whichever your comfortable with. I use ATM that way I know it was an ATM transaction.
409248
I work at a bank and let me tell you, this kind of question is SOO annoying haha...but in your case it's not because you're not calling the bank to ask! \nWhen the check is going to clear, really depends on your land lord and when he/she deposits the check!  Generally it takes up to 3 business days for a check to go through once it's presented to the bank.  That could vary depending if you use the same bank which would make it faster, if their bank it's not local it could take up to 5 business days and also what time your bank's cut off date is.  Where I work any debits can present to your account up till midnight so that gets a lot of people into trouble. \nIf you have overdraft protection then that's your saftest bet.  It's only a $200 difference.\nGood luck!
376507
Firstly, Banks are not responsible for direct debits. Its the company that takes it from your account with your authority that the bank holds.\nThere are rules and the main one is that customers are indemnified against loss if a debit is wrongly taken. In your case, the company would have told you that a sum certain would be taken from your account each month. If the claim was delayed its still your responsibility to make sure there is money in the account when it is taken. A month's delay can occur on first claim but then will take place on the agreed day per month. If this was not the first payment then, as long as it wasn't because of non payment in the first place, phone the company for an explanation, not the bank. Its not usually possible to set up a standing order as direct debits are controlled by the company and their costs are based on this.\nBasics - you agree to pay a monthly sum - they claim -you make sure money is in the account.
256739
Banks process all deposits in batches, usually run overnight. This is when the availability of funds is verified.  They give you the benefit of the doubt as soon as you deposit the money, however. This means that you can write a check against it but can't get cash. That's why we often see a "balance" and an "available balance" that differ. Hope that made sense, I was a bank teller for a few years in college.
45183
Your confusion is understandable for someone who is not an accountant.  Those terms 'debit' and 'credit' (from your first 2 examples, at least) are relative to the BANK'S POINT OF VIEW not yours.  I'll explain.  The bank has a balance sheets with assets on the left and liabilities (things that it owes) on the right.  Assets must always equal Liabilities + Owner Equity (equity won't be explained here).  On the asset side, when a bank gains an asset, it receives a credit and when it loses an asset it receives a debit.  The reverse is true for liabilities.  When a bank gains a liability, it receives a debit, but it is credited when loses a liability.  When you take money out of your checking account, the bank loses assets and therefore records a DEBIT (remember, a loss of assets is a 'debit' on the asset side).  When you add money to your checking account, the bank gains assets, which is a CREDIT on the asset side. When you use a credit card, the store DEBITS your account because you have gained a liability, a promise to pay (remember, a liability goes UP when it is debited).  When you get a refund, your account is CREDITED because you have lost a liability (you are no longer obligated to pay that debt).  remember, a CREDIT on the liability side means that liabilities go DOWN!  So 'debit' and 'credit' don't mean 'down and up', it just refers to what action(s) is being taken and on what side of the balance sheet the action is taking place.
303720
this is a question i can answer from first hand knowledge !\nits easier and safer to get a postal money order fill it out to the persons name c / o the sheriffs dept or whatever the facility is,a postal money order takes less time to clear than one from 7-11 etc..
106798
Go to your bank.  Bring a letter that states (i) the date the money was taken out, (ii) how much was taken out, (iii) that you did not authorize the charge, (iv) that you just found out about this, (v) that you are notifying the bank that this is an unauthorized charge within two (2) days of learning of the loss.  Then state, "as provided by Federal Reserve Regulation E, specifically 12 C.F.R. § 205.6(b), if a customer notifies the bank within two (2) days of learning of an unauthorized transfer, the customer’s liability cannot exceed $50."  Follow that with "As such, I demand that in compliance with Regulation E, the bank refund all of the money debited by this unauthorized, less $50, and that any NSF fees imposed on my account as a result of the unauthorized debit be immediately refunded to me.  Please notify me at once that you have complied with this demand, thank you."
373017
It can take upto 10 days to transfer money from a bank account to paypal and vice versa. Funds taken via credit card are pretty much intantaneous. I think if you have a verified paypal account, and verified bank account, payments are made for purchases etc., on an immediate basis and the funds are collected, if necessary, from the nominated account.\nIf, you want to buy stuff etc. on ebay, then a good tip is to sell stuff and maintain a "trading" balance in your paypal account. The whole system is then self funding.
350455
Yeah, but they could consider it late regardless.\n\nSome companies have a 3 or 5 day grace period, though.  It should be on your bill.\n\nIf you're unsure, and you REALLY don't want it to be late (even by one day), call your credit card company and see if they have any immediate payment options.  Mine allows automatic bank drafts and also has a western union address, so we can run up to walmart, kroger, or any other place that does western union and pay it, and it posts immediately.
616573
In the finance world there is this little report that aggregates all\nyour deposits to find out what is coming in just in case someone\ndoes exactly what you are talking about.  The CTR (Currency Transaction Report) used when a cash deposit of 10,001.00 or more is filled out so that the gov. can locate where they suspect money laundering  may be happening.  If you make two deposits and they equal 15K in a week or even a longer period, you may not have a CTR filled out on you but there is a report for aggregate deposits that can be pulled and usually is standard for EOM (end of month).  Oh, the CTR is not usually filled out by the customer/member but by the employee helping you.
464462
<>Unless there is sufficient funds on deposit to cover the check against, any bank may take up to five (5) business days to cash a check, not including cashier's (bank) checks.
465543
What Bank of America does is it instantly gives you a CREDIT when you deposit money in an ATM, but the credit is temporary and may not be for the full amount of your deposit (usually it's just a couple hundred dollars at most).  That credit will be instantly available, but may be retracted and the actual deposit is not likely to occur for a day or two.\n\nIn addition, Bank of America does reserve the right to delay a deposit but up to 11 business days.  Some of the reasons they may do this include:  (directly from their website)\n\n- You deposit checks totaling more than $5,000 in one day. \n- You re-deposit a check that has been returned unpaid. \n- We believe a check you deposit won't be paid. \n- You've overdrawn your account repeatedly in the last six months. \n- There is an emergency such as an equipment failure. \n\nSeeing a living, breathing teller, on the other hand, usually does instantly deposit the actual amount of your deposit into your account right away, though sometimes it doesn't get posted until the next business day.  You can always ask the teller when you are doing the transaction.  And as above, they reserve the right to reverse the transaction for a variety of reasons or delay it as well if they feel they have a reason to.