[johnnyt603]

I checked a checking account balance which showed positive figures, then deposited another check. At midnight that night the check that was deposited had not cleared and the account was overdrafted 5 times. The bank reimbursed me for 3 of those overdrafts via a telephone service and recommended that I visit my local bank for reimbursement of the other 2. In the meantime the reimbursement was not posted and 5 more overdrafts occurred and after a visit to the branch they are not being so helpful. Any advice would be appreciated as I have a meeting with the branch manager tomorrow. Thank you!

[progunr]

Most deposits made after say 2 to 4PM don't get posted until the following days business.

I'm sure your bank has notices posted that will indicate the time they cut off current days business.

Auto withdrawals normally happen at midnight, the day they are scheduled to process.

If you had auto withdrawals, or checks that were presented the same day you made a late deposit, then the fees charged could be accurate. In addition, most banks will delay the funds on checks for several days time to verify that the check has cleared prior to you getting the cash for it.

I wish you luck with this!

[Fr_Chuck]

Actually the bank may have just been nice to a good customer.

A check deposited one day is often not applied that day, plus almost all banks apply the withdraws before they apply the checks.
But this is a good example of not writing checks out before the deposit is made first.

[slowandeasy]

Hello J603
It is always best to make sure your deposit is posted before writing any checks. When check 21 {which clears checks faster} came into play for the banks ,nothing was done to make sure deposits made that day are posted that same day.