jerrodh Posted March 25, 2010 Report Share Posted March 25, 2010 Chase bank, Know a few people work there and Im sure someone may have had an experience similar to this. Anyway I deposited a refund check today. As I left I was somewhat surprised to hear the guy that helped me say here is my present balance and that only (roughly 1/3) of my deposited check was to be on hold. So I went and picked up a few things believing I had plunty of funds but was a little more than the amount of cash I had in my account previously. Now I return home to check my balances online. I have an "avaliable balance" that is currently negative $25 bucks, and a "present balance" that has xxxx amount. Am I going to get hit with overdraft fees? I'm so confused because the guy said they where only holding a portion of my deposit check. Quote Link to comment Share on other sites More sharing options...
AWW$HEEET Posted March 25, 2010 Report Share Posted March 25, 2010 Depends on how much you spent and how much was actually available. Generally on large deposits, $100 is avail. immediately, and the rest can be on hold for up to 14 days (or more) if they think you are kiting checks, or its a new account, according to Reg. C, but generally for only a few (2-3 business days). If they know you, know your habits, and know you personally, they may adjust it so that all funds are available. Quote Link to comment Share on other sites More sharing options...
jerrodh Posted March 25, 2010 Author Report Share Posted March 25, 2010 I've been a customer for multiple years with multiple accounts so I'm sure I can just speak to a bank manager if there is an issue. But I'm just kind of pissed because I don't EVER do stuff like this, miss payments on anything etc. And I thought the guy clearly said you have x amount availiable and we are only holding this amount (much less than what was deposited). Thanks though. Quote Link to comment Share on other sites More sharing options...
justinwebb Posted March 25, 2010 Report Share Posted March 25, 2010 depends on when the deposit hold is up, i am a supervisor for the telephone banking call center lol. usually a hold is placed on a check for a business day it should clear tonite. depending on how it all posts you should be fine but there is the chance the items will post ahead of the check clearing and get a fee but i doubt it. Also if you have never had fees refunded you get one courtesy fee waiver a year but i think you should be fine....call me ill take care of it lol we process all of our transactions between 12am -7am but if you are able to transfer the difference from a savings acct to cover the negative before 11pm tonight then you will be fine also Quote Link to comment Share on other sites More sharing options...
jerrodh Posted March 25, 2010 Author Report Share Posted March 25, 2010 Maybe thats what the guy ment when He said that some was held to friday and the rest till the next business day. least that make since of the online with the present/availiable balances. But will do if I have any problems. I feel better bout this nonetheless thanks guys. Quote Link to comment Share on other sites More sharing options...
justinwebb Posted March 25, 2010 Report Share Posted March 25, 2010 was it a rather large sized check? you dont have to say but normally if its a handwritten check that is a large sum then it will be held for a day or two to be verfied, you can have the banker call to verify funds right away they dont like doing it but if you need the funds for something it can be done. if it will be a larger check that will be on hold till friday then you very well might get a fee, without pulling the acct and looking its hard to just guess though lol but if its your first time like i said then you can get it waived or just talk to the branch as they can waive fees also Quote Link to comment Share on other sites More sharing options...
justinwebb Posted March 25, 2010 Report Share Posted March 25, 2010 Chase is the devil i concur but its a job and now i get to tell people what not to do so its not as bad, but they still messed up my acct and i work there haha Quote Link to comment Share on other sites More sharing options...
Igor Posted March 25, 2010 Report Share Posted March 25, 2010 There are no holds on federal check's per chase's policy. If you get hit with overdraft, i would go get that resolved quick. Quote Link to comment Share on other sites More sharing options...
Tractor Posted March 25, 2010 Report Share Posted March 25, 2010 If you have the funds to cover a check they will not place a hold on it. Otherwise yes you'll get a hold placed on it and they are required to make $100 available at that point. The guy at the counter doesn't always know what he's talking about. My wifes a bank manager and runs into that problem all the time. Quote Link to comment Share on other sites More sharing options...
jerrodh Posted March 25, 2010 Author Report Share Posted March 25, 2010 Well if I am to get $100 availiable at that point then I am covered. Thanks again for the support guys, it'll work out either way. Just might take a trip to the bank. Quote Link to comment Share on other sites More sharing options...
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