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 Posted: Thu Jan 10, 2008 12:42 am Subject: Is it legal for Regions Bank to do this? |
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In Illinois Regions Bank policies have changed so that ANY CASH DEPOSITS that are made on a business day, regardless of whether they are before or after cut-off time, will be immediately available for electronic or ATM withdrawals, but they aren't available for check transactions on the 1st business night.
Is this legal? Seems like a sneaky way for to generate revenue.
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Guest
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| Posted: Thu Jan 10, 2008 5:55 am Subject: |
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yes it is legal for them to do that.
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mca
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mca
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| Posted: Thu Jan 10, 2008 9:34 am Subject: I would change banks if I could |
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If you can change banks do it. I think it is time Congress AMENDED Regulation CC to allow cash deposits to be credited immediately. Holding cash is just plain ridiculous if it is made before the cut-off time. I have a bank start this tactic on me I am going to dump them so fast.
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falala
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| Posted: Thu Jan 10, 2008 9:50 am Subject: |
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Illinois is rough on checking accounts anyway. from ordering checks i see that it is mandatory for the checks to have the account opening date on the check itself!
trying to make it rough on writing checks
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| Posted: Fri Jan 11, 2008 11:41 am Subject: |
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There's a trick I learned when ordering checks. If you ask for the starting number of your new order of checks to be at least 1001, then people you write them to won't know you just opened the account. Most places default to ordering you starting number 101. That's a red flag to businesses that it's a new account, and some places won't take a check that low. I agree about holding cash. That's ridiculous. I know that Wells Fargo has a cut-off time of 4PM, and any deposit made after that time is considered the next busines day...even when it's cash.
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