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Start here => What's your crime? Basic Discussion => Topic started by: Parts on June 01, 2009, 06:04:58 PM

Title: Checks
Post by: Parts on June 01, 2009, 06:04:58 PM
Why do checks still take so long to clear just deposited an out of state one 5 days to clear.  With all the tech now they can know in minutes if it's good?
Title: Re: Checks
Post by: P7PSP on June 02, 2009, 01:37:19 AM
Probably because bankers are usurous douche bags who fuck you out of every dime they can.
Title: Re: Checks
Post by: Phlexor on June 02, 2009, 02:31:35 AM
Because those fuckers take the money from all those cheques deposited on that day and then invest them for 5 days and cha-ching!
Title: Re: Checks
Post by: Parts on June 02, 2009, 04:49:34 AM
that's what I figured :grrr:
Title: Re: Checks
Post by: TheoK on June 02, 2009, 04:56:42 AM
That's why I always pay my bills on the last day, so they wont get a fucking krona out of it more than it says on the bill.
Title: Re: Checks
Post by: Christopher McCandless on June 02, 2009, 06:10:24 AM
Might be because your cheque is not the first in the queue. Asides it costs banks a load more to process them than they would ever make on interest.
Title: Re: Checks
Post by: Callaway on June 02, 2009, 10:22:25 AM
Why do checks still take so long to clear just deposited an out of state one 5 days to clear.  With all the tech now they can know in minutes if it's good?

I found this information.

http://www.bankrate.com/brm/news/chk/19991102.asp

Quote
The Expedited Funds Availability Act, enacted in 1987, lays down the rules on the availability and collection of monies for all state and nationally chartered banks, thrifts, credit unions, and savings and loans.

In accordance with that law, there are three standard hold periods: one, two and five business days.

For example, the act allows banks to hold local checks up to two business days, and out-of-state checks and ATM deposits up to five.


Apparently, banks taking up to five days for out-of-state checks to clear is the standard.

The article said you could ask the branch manager to make an exception and shorten the hold for you if you are a good customer.
Title: Re: Checks
Post by: RageBeoulve on June 02, 2009, 11:26:11 AM
Banks are homosexuals.
Title: Re: Checks
Post by: TheoK on June 02, 2009, 01:30:35 PM
 :agreed:
Title: Re: Checks
Post by: P7PSP on June 02, 2009, 02:13:03 PM
You should read the article Callaway posted Lit. Apparently ATM can result in bounced checks as well as exposure to unhealthy bacteria.  :hahaha:
Title: Re: Checks
Post by: Parts on June 02, 2009, 03:00:38 PM
Banks are homosexuals.

I like working for homosexuals I don't want to stereotype them though it a good one.  They pay their bills and pay them fast they also know what they want and not argue about price   those thing makes working for them a pleasant experience at least from my standpoint.
Title: Re: Checks
Post by: RageBeoulve on June 02, 2009, 04:48:35 PM
You should read the article Callaway posted Lit. Apparently ATM can result in bounced checks as well as exposure to unhealthy bacteria.  :hahaha:
Wtflol.
Title: Re: Checks
Post by: Parts on June 02, 2009, 05:21:50 PM
They are nicer to you when you have a business account.  Still when I give a check to say the oil company the money is withdrawn from my account as soon as the get it