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The business we work for uses M and T Bank. If we opened an account there, they seem to say on their website that any hold would be no more than one day. They will find out about how to do direct deposit, but wouldn’t having an account at the same bank make things a little easier in terms of check holds?
Of course, if any has anything to say about M and T Bank, I’m all eyes.
Bank of America has finally lost me as a customer.
Any recommendations for a bank that doesn't put 10 days hold on a valid check? If there are none, then one that employs someone who can resolve the problem when it happens? Don't say BOA because they all (phone, branch, twitter., etc...) say "'there is nothing we can do". I have noticed that they are doing this more often. Three times my card was blocked when buying gas. They have become unreliable. I"m done. Time for a new bank. Recommendations welcome.
How big was the check? That's a common thing for banks to do when it's a high dollar one. I put in a $3K one with Tek FCU and they took three weeks to approve...Yuck.
I'm with US Bank. Have always gotten really good service from them online and at branches...Drawback is I have to go 5 miles to the one open on a sunday...
USAA Bank is my primary checking and I've never had a hold put on any check of any size when I scan it in with my phone. ACH pull transfers from other institutions are also instantly posted to my account as available even though the ACH hasn't taken place yet. I don't hold much savings there because rates aren't good, but for the everyday checking account it's pretty tough to beat - and totally fee free to use.
I want to update the thread. BOA did not hold this months check. Everything was the same as the last check and all the checks before it..
One detail I forgot to mention was that these are bank checks, not check from the employer. The employer set it up to automatically send a check each month.
YES They will change it to direct deposit very soon.
Join a credit union as they are member owned. You get better customer care and it is often cheaper as to fees.
Ditto. Use a credit union. Better service, lower or nonexistent fees, lower credit card and loan rates. I have no idea why anyone would use a bank unless they were handling tens of millions of dollars. For personal finance, credit unions are where it's at.
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