Anyone heard of the American Express Consumer Debt Management Plan?
Hi all, Same thing, one came to my current address for almost 9,000 and the other went to my former address for a bit over 1,800. I had 2 amex accounts and went through CCCS. It is a refund of the overpayment of interest and finance charges. Count your blessings, for once things are working out for the little guy. bijoux
If I got my refund by direct deposit, but filed a paper ammendment, how will I get my stimulus payment?
actually the person below is wrong. There have been several IRS account reps giving out the wrong info. For example, when I called this morning about my amended 1040x, and told them I'd originally gotten the direct deposit, they said no problem, it will still go in. My SS ends in 03. I should have gotten it now. They followed with, deposits didnt get made on Friday and will be dispersed throughout this week. Now something didn't seem right so I called back and spoke to a supervisor of accounts. Apparently, if you filed an amended return, your stimulus check will indeed be a paper check so those of us that made sure to get our taxes in early, have the right ss number and all won't be seeing them unitl May 23. That's right May 23. They will be mailed on the 9th but tell people that really means there will be a 10 day "grace period"...hope that clears up any confusion for you all.
What time does Bank of America process direct deposits?
Generally a direct deposit will be available immediately, however I have seen some instances where the employer processed things around midnight and that delayed the deposit by one business day. Direct deposits don't have holds placed on them, but there can be delays in processing due to odd circumstances such as the one I mentioned. I worked in a branch so I never had to deal with technical issues with electronic deposits like that, so there may be other variables I'm unaware of. If your employer has sent a direct deposit and there's an issue, I'd advise contacting customer service. (Also, there's a difference between direct deposit and just electronic deposits such as withdrawing money from PayPal. I'm working under the assumption that the former IS what we're discussing. )
How do banks verify cash deposited in an ATM machine? If machine counting isn’t done by the ATM, the money is counted manually afterwards. I'm curious to know who's counting and the systems in place to verify the counting.
Years ago, I accidentally keyed in the wrong value for a check at an ATM ($470.00 instead of $430.00). I got a notice in the mail about a week later telling me that they debited my account $40 because of my typing error. So, somebody audited it.In the modern era, I think the auditing is increasingly driven by automatic counters and check image recognition. For example, more recently I had a $170 check processed as $110. Looking at the horrible handwriting on the check, I can see where the reader went awry. A quick call to the bank fixed that one.In the case of cash, counting is much easier. No doubt there is some automated process to check the actual amount against the claimed amount. Modern ATMs (in the USA) use no envelopes and will read the dollars images directly to count them. I presume similar devices exist for Canadian money (Google found me a cheap Canadian bank note counter at Costco in a few seconds). Since using people to audit can get expensive, presume that the ATMs in Canada will gradually move to envelope-free systems. The new polymer Canadian bank notes are probably very well suited to automated handling.
What time do most direct deposits hit your bank account?
There is no one time that “most” deposits post. It all depends upon when the transaction arrives at the bank's computers and the bank's posting procedures.The Automated Clearinghouse (ACH) system runs 24 x 7 x 365. It knows no weekends or holidays. Therefore a transaction can arrive at any day or time.Some banks post in real time while others batch process at the end of the banking day. Some use a hybrid of the two systems.If your bank posts in real time then a direct deposit will show up shortly after it arrives as long as the payment date is current or in the past and the various audit and fraud tests pass.If the bank posts at the end of the banking day (usually 3:00 PM local time) then all deposits will be available at the beginning of the next banking day. So if a deposit arrives on Monday before 3:00 PM your money will be available by 9:00 AM on Tuesday.If a deposit arrives after the end of banking day it will be processed with the next day's business and the funds will be available at the beginning of the 2nd banking day. For example, a deposit that arrives at 5:00 PM on Monday will process after 3:00 PM on Tuesday and will be available by 9:00 AM on Wednesday.Hybrid systems typically post in real time during the banking day and queue anything that arrives after the end of the banking day until the beginning of the following banking day.Recurring deposits like payroll and Social Security often arrive a few days early. They are queued until the pay date on the transaction and then post at the beginning of that banking day.
Can I withdraw money that's shown as "pending" in my checking account?
No.Debit/EBT/Checking accounts have money deposited and withdrawn during non-business hours (usually around 12am). But each day, before money is deposited or withdrawn, the bank gives you some rope for one of two options: (1) spend less than you have available or (2) spend more than you have available.Option (1): You spend less and likely never know about the strangeness that happens with lower balance accounts.Option (2): You spend more and start seeing money & everyday transactions do weird things.ExampleYour account balance has been $50 for weeks. Day 1, you go to Chipotle, spend $6, and then put $40 gas in the car - replacing the $46 after payday and leaving the account alone for a week. Then, Day 2, you put $40 gas in the car, go to Chipotle, and your EBT is declined. Why?When you go to Chipotle, they know how much you're purchasing at the time of the transaction. On the other hand, gas stations have no idea how much you'll spend - so they do something called a soft check and temporary hold. A soft check is typically a $1 transaction, simply to verify the account is valid. Next, a temporary hold reserves your account funds for an amount close to what your final bill should be (e.g $50, $75, $100, etc. really depends on the vendor). Once you've completed the transaction with a vendor, they'll send the final purchased amount to your account and your bank will release the soft check and temporary hold, and bill you the final purchased amount during the nightly update (see 1st paragraph).Because banks typically allow transactions that take you into the red, but halt additional transactions, here's what happened in the example.Day 1: $50 account balance - $6 (Chipotle) - $1 (gas soft check) - $50 (gas temporary hold). 50-6= 44-1= 43-50=-7 (no more transactions will get approved)Day 2: $50 account balance - $1 (gas soft check) - $50 (gas temporary hold) - $6 (Chipotle). 50-1= 49-50= -1 (no more transactions will get approved). Leaving your $6 Burrito Bowl abandoned.So, in reality, "Pending" money means "Reserved." Once all reservations have been met, you'll be allowed to resume your normal activities.NOTE: Check deposits can show as pending as well. Most banks don't fully trust their customers. So if you deposit a $500 check, the bank may immediately allow withdrawal of $100, but the other $400 will be pending until your bank feels confident the check is valid (typically after 1 business day).
What time does my SSI get deposited?
Most automatic deposits are credited to you account at the time when your bank processes them. Each bank has different times but usually after midnight you can check to see if it has been deposited if you have online account access.My funds are available on the day I get paid because it is automatically credited between 12:00 AM and 3:00 AM. Since I always get paid on the same day of the month I can schedule bills be paid that day because my bank reconciles credits before debits beginning at 12:00 AM. If your bank does the same, then the day you are scheduled to be paid you should have it automatically around midnight or close to it. You can always go to your banks ATM at 12:01 AM on the day you get paid and check your balance.
When you deposit cash in an ATM, how long does it take to get into your account?
There is not a single simple answer to your question.Deposits made during normal business hours will be credited to your bank account on the next business day, if the deposit is made after normal business hours, the deposit will be credited to your account as part of the work of the next business day, and made available to you the following business day. As an example, you deposit currency after hours at an ATM on Thursday, processed by the Bank on Frday, and then made available to you on Monday.Now to add some complicating factors to this answer, some ATM’s are able to verify your deposit amount and reject possible counterfeit currency, the Bank may choose to memo post the credit amount to your account at the time of the transaction so the amount is available to you right away.Most Banks that offer ATM cash deposits have several different types of ATMs that accept currency deposits, not all of them are able to verify your cash deposit. Typically a bank clerk is then required to verify your deposit amount, even if the ATM had already counted your deposit. Any discrepency will be corrected and your deposit amount will be adjusted.However, to have the correct answer for the way your Bank processes ATM cash deposits, you should talk to a representative of your Bank.
When will my direct deposit hit my Walmart card if I am paid on the 10th and 25th if the month?
I draw disability, and so does my mother. Her check gets deposited into her bank’s debit account, and ONLY on the third of the month, unless of course the third falls on a weekend or holiday so she gets a bit sooner in that case.On the other hand, I drew my direct deposited onto my Wal-Mart money card and it would ALWAYS be available as many as three days early. Now I recently changed it so my disability goes into MY real bank account, and it ONLY gets deposited on the 3rd now.I’ve often noticed that Wal-Mart Money Card advertises “receive your direct deposit up to 3 days sooner!” and it my experience… it sure does. While it’s unfortunately that they charge $3/month to use the WMMC, sometimes getting paid those 3 days sooner would really be great and well worth the service charge.So to summarize, when my direct deposits went to WMMC, they always got there earlier, usually as many as 3 days sooner. In regards to a disability payment, I can see how Wal-Mart can verify the check is coming and thus “fronts’ me the money and probably they can do the same when it comes to employees at Wal-Mart. However I don’t see how they’d know the deposits are forthcoming from other employers, but I do notice that they say “receive your pay UP TO THREE DAYS quicker” so probably if they don’t have a way to verify the payment is coming they just wait until the actual deposit goes through.
How soon can you see your direct deposit before it actually gets deposited?
Banks & Credit Unions in the US receive direct deposits from the issuing party electronically. Banks “pull” this type of electronic transaction over once or twice each day, most often at 12:00 a.m. & often again at 3:00 a.m. Keep in mind this pertains only to standard direct deposits such as payroll & is not how a wire transfer deposit is received nor does it relate to a manual deposit made in person at your financial institution. Once the direct deposit has been received, the procedure can very slightly from bank to bank & still be within the FDIC or NCUA guidelines. The date the deposit is received on can effect the availability of the funds. The FDIC & NCUA have rules regarding this (namely the Deposit & Electronic Funds Availability Act). These disclosures should be given to you upon account opening & also available to you on your individual banks website.I should also add that sometimes direct deposits have an effective date which differs from the received date & this can effect how the deposit is processed as well. As an example, let's say a deposits received (pulled) electronically at 12:00 a.m. on Friday, Jan. 26, 2017 & the deposit lists an effective date of Monday, Jan. 29, 2017. Some banks will post this deposit immediately (12 or 3 a.m. on 1/26/17), some will enter the deposit but post with an available date of 1/29/17 to match the deposits effective date. The deposit will show as received in the accounts transaction history & current balance but won't be part of the available balance until 1/29/17. Lastly, some banks will hold the deposit & not enter it until 12:00 a.m., 1/29/17 ( the deposit effective date).I hope this helps & wasn't too confusing. When in doubt or needing clarification, don't hesitate to call your bank & ask. They should be able to answer any question regarding their policy & procedures very quickly. If not, you can always look for the policy disclosures on their website's. If the informations not there either, then might I suggest moving to another bank or Credit Union.