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What is the easiest way to establish credit?
A... |
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 Im 18 years old. Do i have any chance getting a loan/mortgage? |
I need to get a loan for 270,000 for a house.
Additional Details
i can put down 20,000. My financial status, well the house will pay off itself. im pretty sure theres some way for an 18 ... |
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| I have got a debt of £600 on a store card. Would it make more sense to transfer this to a credit card that has 0% on balance transfers and 0% interest for 6 months and pay it off via this instead of ... |
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Jake H | How does *depositing* money at an ATM work? Is it posted online instantly? |
There's an ATM in the lobby of my apartment complex and for the first time in what seems like ever, I noticed you could DEPOSIT money from an ATM. But how exactly does that work? If I were to go down right now, put $50 in one of the envelopes and punch it all into the machine, is that money instantly posted to my account online, ready to be accessed? Obviously it's all based on trust and law (more so the latter), but I was just wondering how that part worked? |
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livn4themin
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No, you must wait for a the business day's posting, which is usually on weekdays, before you can get the money back. |
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The Eagle Keeper
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nope, someone will collect the envelopes and then confirm your deposit. you have to wait until the dude gets it and turns in to the financial institution. |
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Bucknut
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it probably wont post until its collected and processed. a few days at best. |
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K.C.
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If you the ATM is the same bank you bank at then YES you cna deposit
EX You bank with WAMU and the ATM is WAMU
If the ATM is not the same bank you bank with you absolutely can't deposit money in the ATM
EX You bank with WAMU but the ATM is Wells Fargo
As far as your deposit posted instantly - YES!! if you check over the phone, online, etc right away it will show that you made a deposit ~ however all your money may not be available for immediate withdrawal with that said....
Most banks only allow for the first $100 of any deposit to be available without verification (meaning that someone doesn't actually have to physically check a deposit for ti's contents) and the remaining (depending on the amount deposited) would be available the next day
EX You deposit $200 only $100 of the $200 would be available right away the other $100 would be available the next day ~ your total depsoit of $50 would be available right away!!!
Banks are at risk if they make all deposits available right away without verification ~ however $100 is a reasonalbe amount of money to risk for a bank ~ to be clear on the amount that would be avaialble for you from your bank refer to your banks policies on deposits & funds availability |
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Littlesby
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It does work, but you should really just deposit through your bank's ATM, that way it will post right away. If it is associated with your bank then do it. I generally don't deposit cash. Oh yeah, I think half of it becomes available right away. |
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ThatGirl
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it should be posted within 24 hours. if you type in the wrong thing, you'll see the difference adjusted on your statement after the bank has received the payment. a portion of it is usually immediately available for withdrawal. |
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Think Big
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It would show that the money was deposited, but the transaction would be pending until the bank confirmed the deposit. So the money would not go through until the next day. I think. I think you can only deposit money to an atm at the bank you bank at. You need to have an account there. |
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Ted
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First, the transaction has to be allowed. That means that the owner of the ATM and the bank holding your account have to have an agreement which includes deposits. I can deposit (and have done this) in any ATM in the Chicago area that has the STAR logo. I can't do this in Alaska (I tried, just to see if it would work) I was told that they have a similar network of local banks, but I was to far away.
As far as security, there is no trust involved. It would be too easy for someone to type in $1000 and insert an empty envelope, then go to a teller and try to withdraw cash. The money gets posted to your account, so you can see the transaction went through, but it goes through with a hold. The funds get released when the deposit has been verified and given time to clear. I bounced some checks because a deposit I made at an ATM in the drive through of my own bank, was being held. I complained about how long the funds had been held and got as high as the operations manager, who pointed to the fine print in the account agreement where it said that the bank's published policy on holds only applies to teller transactions. ATM transactions can basically be held until they decide to release them. |
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Julia R
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No, a human being has to retrieve that $50.00 (cash) from the ATM and enter the deposit into the bank's computer. This would be done After (later than) the other banking business for that day had been completed. |
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haleymiller512
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I used to work at a bank, so I think my answer is pretty accurate. The ATM does not automatically "deposit" your deposit into your account. First off, you need to belong to the financial institution that owns the ATM. Bank of America ATMs, for example, cannot deposit money to Washington Mutual. If you have the correct bank's ATM in front of you, it may or may not make the deposit or a portion of the deposit available to you, depending on your bank's funds availability policy. But the money is not officially deposited until a human physically unlocks the ATM and collects your deposit, then deposits the cash/check the regular way at a banking terminal. Most banks in my area do this around 2-4pm, Monday through Friday. |
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Nibblet
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well, if you deposit before 5pm, then it should post to your account the following day... |
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