[hetron]

[ QUOTE ]
I recently received a large check (~30k) from a lawyer and wrote a check back to him (~8k) at the same time. We did this for paper trail and accounting purposes. I was to deposit his check same day and he would deposit his the next day.

Well of course my bank cleared his deposit the SAME MORNING of the deposit and bounced it since there was a two day wait on my deposit. This sent a red flag up to my bank and they added an ADDITIONAL hold on the deposit. What's even worse is that I deposited a ton of additional much smaller checks ($25 birthday check, a paycheck, etc..) at the same time and they have delayed the ENTIRE deposit. I was told I won't see my money now until Monday at midnight at the earliest. I now have 0 cash for the weekend.

Both these checks were writted to/from a local bank to/from another local bank and they can clear drawn checks in a few hours but they take days to clear a deposited check. WTF???

There once was a bill called the CCAFA (Consumer Checking Account Fairness Act, introduced last year) that was supposed to make it illegal for banks to do this crap (among other things) but of course Congress didn't pass it and killed it dead....

End of Rant

Vlorg

[/ QUOTE ]

Don't get me into how much I hate it when this happens...one way to try and combat it is get a cash reserve account so that you have overdraft protection and some extra cash on hand when u get into a situation like this...