-1 to Old National Bank

[longbow]

My "$2" check arrived and I put it in the bank. The same company that sends me a "$2" check every quarter. Every previous check the bank let me have the funds to play with the same day and even take a few pennies out for cash.

Today they told me I can't play with my money for 24 hours and then I'm free to spend.

They would not even let me take a penny out to play with.......... I do mean a penny...............................

Anyone have a bank that will give me access to my money the same day?

 

[grunt soldier]

no but credit unions will

 

[hornadylnl]

Go to a small town bank where every teller knows who you are. I don't give fingerprints and all that jazz. I've deposited checks for many thousands of dollars at the one bank without any hassle.

 

[MrsGungho]

no but credit unions will

 

[spec4]

Look up Regulation CC. It will explain how all this works and what banks must do to comply. The reg was Govt answer to banks limiting when you could draw on uncollected funds. Banks wanted to make sure the funds were collected before they would let you have access. ie: the bank wanted to be sure they don't get stiffed.

 

[clt46910]

Never had a problem with my bank. They cash any check I bring them and let me have the money right then. Something to be said for small town banks. I been there long enough to start watching the new girls when I started retiring...LOL

 

[revsaxon]

Capital one lets you play with your money the day its deposited, though finding one of their branches/atm's can be a hassle.

Chase let me play with it within an hour back when I used them. Can't say ive ever tried depositing a $2 check before though.

 

[longbow]

Capital one lets you play with your money the day its deposited, though finding one of their branches/atm's can be a hassle.

Chase let me play with it within an hour back when I used them. Can't say ive ever tried depositing a $2 check before though.

The check was much larger than $2 real dollars. They just changed the rules and I have been a customer of them for 10 years.

 

[s-works]

generally if you have enough in your account to cover that deposit they give you access right away (at least PNC does).

 

[mrfjones]

There was a change to reg cc and lots of banks are changing policy to comply. Credit unions will have to do the same. What they all come up with is up to the individual bank. I know both of my banks will let me cash a check as long as I have matching funds.

 

[purple72]

Ameriana Bank has never withheld my funds. I asked them about it before, and they told me the funds were in my account by the time they handed me the receipt. Sounds likie you need a different bank.

 

[indytechnerd]

5/3 is the same way, unless it's a direct deposit, the money is 'held' for 24hrs (or until opening tomorrow). In longbow's example, I've got $10 in my account, I deposit a $2 check...my available balance is only $8 until tomorrow morning, at which time I'll have $12.

 

[bmmyers08]

i know i have been goin to chase bank for a couple years now and have never had this problem till i had a 3k$ check i wanted cashed. then they maid me wait. however i think the teller i usually go to has a thing for me. lol she looks like fat bastard from austin powers. lol so she may not be following the rules!

 

[longbow]

I did some checking and some banking rules have been changed

Either 2 days ago, or a month ago on the 3rd, rules for $2,500 or larger checks have changed........

I see the FED in this...........more ways to tie up money so we can't use it.

 

[hoosierdoc]

Last i checked (2years or so) PNC makes $100 available same day. Curious though, why not cash the $2 check instead and then only deposit what you want?

 

[hoosierdoc]

5/3 is the same way, unless it's a direct deposit, the money is 'held' for 24hrs (or until opening tomorrow). In longbow's example, I've got $10 in my account, I deposit a $2 check...my available balance is only $8 until tomorrow morning, at which time I'll have $12.

Wait, you lose access to existing funds when you try to give them MORE money? Hrm.... Seems punitive and if it's just their policy I would kick them to the curb

 

[VaGriller]

First Merchants does, Kinda limited on locations though. A few in Indy, one in plainfield, avon and mooresville. I've been mostly happy with them except for when they reset our debit card pins 2x without telling us!

 

[theweakerbrother]

You have Regulation E, etc. and the Patriot Act to blame for the mismanagement of your funds. Or the idiots or vote to support it.

But also, you might want to look at transferring your monies to a credit union.

 

[GunSlinger]

We use TCU - Teachers Credit Union - and have for many years. No problems even with non matching funds. They've even verified checks on the spot so we could have instant access. Good solid company.

 

[GREEN607]

My "$2" check arrived and I put it in the bank. The same company that sends me a "$2" check every quarter. Every previous check the bank let me have the funds to play with the same day and even take a few pennies out for cash.

Today they told me I can't play with my money for 24 hours and then I'm free to spend.

They would not even let me take a penny out to play with......... . I do mean a penny...............................

Anyone have a bank that will give me access to my money the same day?

FIFY.....