Friday, August 24, 2012

I can INVENT new ways to get screwed

Well, finally got paid yesterday for my bill that I submitted on 8/15. As normal, I deposited the check into my account. I got access to 10% of the funds yesterday and got $25 in gas for myself, $20 in gas for Rachel, $60 for Rachel for school clothes. Then. I checked my checking account this afternoon expecting to see a nice fat figure in my account. What I see it squat and this notification:

"Deposit Holds mean a check has already been credited to your account, but the funds are not available for your immediate use.
  • To avoid overdrawing your account and incurring overdraft fees, please do not make withdrawals or write checks against these funds.
  • You can find your current Available Balance on the Account Summary and Account Activity page.
  • We may delay funds availability further or reduce the amount of funds currently available as we continue to verify your deposit. "
The money is being put on HOLD for 14 DAYS. This is the explanation I got when I called:


Wells Fargo says "many factors enter into the decision to put a hold on this check when no hold has been placed on previous checks deposited to this account. Wells Fargo may have been notified that the item has a high probability of not being paid at the maker bank. " This is why the bank has put a hold on this check. This is a direct quote from my WF rep.
See, I found a new way to get screwed!

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