Bank of America Checking Account Question

[berlyb33]

Not sure if this is the right place to post this, but I received my pay check today. I have a checking account with Bank of America. If i deposit it to my checking account, will my money be available right away? If not, how long does it take? I'm wondering if I should just cash at the currency exchange. Thanks!

[CactusWill]

Not sure if this is the right place to post this, but I received my pay check today. I have a checking account with Bank of America. If i deposit it to my checking account, will my money be available right away? If not, how long does it take? I'm wondering if I should just cash at the currency exchange. Thanks!

 

If its an in state issued payroll check, funds should be available immediately. Out of state payroll checks, or handwritten business checks, will typically have a hold.

[Big Ed]

Not sure if this is the right place to post this, but I received my pay check today. I have a checking account with Bank of America. If i deposit it to my checking account, will my money be available right away? If not, how long does it take? I'm wondering if I should just cash at the currency exchange. Thanks!

 

Sign up for Direct Deposit with your employer if possible. Makes things MUCH easier !!

[turbo59]

OP, out of state will take 2 bus days....I just moved back in state last month and it is next day with direct deposit.

[FunkSoulBr]

First of all, you should avoid going to exchange places. Why pay to cash your own hard earned check?

 

Second, If the payroll check was issued by a bank that also had local branches; you could go to the branch and cash the check for free in most cases. Example, your payroll check is written from a Wellsfargo bank. You can walk in to any wellsfargo branch and cash the check .... usually free.

[MrB83]

I'm a BOA customer have been for quite some years now. If you deposit it before 8PM at one of their ATM locations it's typically available same day. It pretty much depends on how much is currently in your account which will determine your availabilty. If you deposit today you will sometimes see a hold of one to two business days. But usually it's next day you'll have the funds the next day if deposited by 8PM your local time.

[jonson]

Second, If the payroll check was issued by a bank that also had local branches; you could go to the branch and cash the check for free in most cases. Example, your payroll check is written from a Wellsfargo bank. You can walk in to any wellsfargo branch and cash the check .... usually free.

 

Not likely, as Chase and BOA charge for this service. IIRC, BOA charges $8, Chase charges $6.

[Cactus Flower]

I'm a BOA customer have been for quite some years now. If you deposit it before 8PM at one of their ATM locations it's typically available same day. It pretty much depends on how much is currently in your account which will determine your availabilty. If you deposit today you will sometimes see a hold of one to two business days. But usually it's next day you'll have the funds the next day if deposited by 8PM your local time.

 

 

The ATM has no idea that you are depositing a payroll check; if you deposit by 8 pm - the money will not be available until the next BUSINESS day....in my experience they give you access to "up to" $100 immediately.

 

OP should get clarification from the horse's mouth ... (BOA)... all you're going to get here are the personal experiences from those of us with accounts...

your actual experiences may vary. If you have a new account,maybe they put a hold on ALL of the money until it can be verified.

Edited September 21, 2011 by Cactus Flower