comicards
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Depends on how quickly your payees cash their checks; if they merely deposit them, the bank just takes their word for it that the check is good until your bank returns it NSF (insufficient funds.) Since the banks post debits (deposits) before credits (returned checks), you *might* be OK.
On the other hand, if they go to the bank to cash it, you may be SOL (sh*t out of luck.)
modify) This can be an expensive habit; I recommend against it. |
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dawn18417
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If the deposit clears before all the checks do then no problem,but if checks cler before your deposit is available to spend then you will have a overdraft and probably a small fee to pay to the bank and bad check fees to pay to the recievers of those bad checks.The banks make alot of money off of this,you should not get in the habit of doing this.Why waste your money on dumb bank fees. |
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Dellajoy
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I know someone at my bank so when I have a problem I just call her and tell her about it. She is happy to take care of it for me. Once when I was trying to cash a cheque from my brother who lives in Texas (I live in Canada) the person who usually helps me was on vacation so I named someone else there whom I only vaguely knew and he cleared it....Usually they want to put a 6-week wait on American cheques. |
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fcsprt11
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As long as you deposited the money before the checks were cashed, you are fine |
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MiaDiva28
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did they electronically file the check? whenever you bounce a check you may be charged a fee plus the amount of the check. then when you deposit money, they automatically deduct the check amount and the bounce check fee. did you ask the teller why you only got 4.26? |
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WyoHunter
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You better hope so. Reconcile your checkbook with the bank. |
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webworm90
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If you deposited before 2 or your banks cut off time. The deposit should show the next day. It should show $104.26 if it is a local check. My bank does deposits, then debits. |
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billyandgaby
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soiunds like they cashed them and then the bank hit you with a fee. Get a statement from the bank, which will itemize everything and tell you if the checks were cashed. If this is a habit. Consider overdraft protection which sounds like you already have it |
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Wizzard2
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Lets hope that their checks didnt go thry until after you make the deposit. There are areas where the sherrif will show up |
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Bob
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The bank will pay the checks first, creating an overdraft situation.
The bank will charge you an overdraft fee, but if you speak to your bank and explain - the bank will reverse the overdraft charge.
Wachovia charges $30 for overdraft fee. |
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threesoares
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Maybe.
The easiest way to find the answer is to checkout your account -I'm sure you bank has online banking. |
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TxCatLuvr
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Depending on who you wrote the checks to, it may take awhile for them to clear. A check wrote to a friend or someone in town will clear your bank faster than a check written to a creditor or to a utility company. Someone needs to really teach you how a checking account works so you have a clear understanding of it. |
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mommacass76
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If you did the deposit after 2:00, then it will not post to your account until the following workday (Monday) if it was before 2, it should post tonight. You may want to call them to see if they tried to cash them. If she is only giving you a $4 balance, you may have been in the hole because of Insufficient funds charges. But, if you wrote them only yesterday, you should be fine. If they deposited them into their account yesterday, the check would have processed into their account last night, and then yours by tonight or Monday- unless you bank with the same bank- it could have try to clear and give you insufficient funds charges. Better call them and see. |
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lil pumpkin
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you can cancel the payments or call up the vendor and ask for delay in payment(ask them to hold the check). Or if you have a savings account sweep it over into the checking account. |
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jaybird1
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That could happen, deposits are not posted until 2:00pm the following day. Wrighting checks and then depositing the money in the bank is called "kiteing" and you could get into trouble with your bank. |
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shadowman
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that depends on when they submit the check to their bank for processing. If you deposit cash in your account it will usually post the same day, checks usually take 1 or 2. |
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lmnop
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Perhaps some of the checks have not yet been presented for payment. You may owe the bank a fee for insufficient funds and if you wrote the checks to businesses, you may also owe them fees for bouncing a check in the first place. If you are going to play the float, only doing it when a check is being mailed; most people deposit checks very quickly, thereby effectively taking away much of your benefit from the float. |
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kawika712
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no they got to cash their checks but they had to pay a fee usually around $15 or $16...and they think your a deadbeat now for writing bounced checks...oh and you have to pay the insufficent funds fee to your bank its $22 with Washington Mutual and $32 with BofA |
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?
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that will depends if you have overdraft protection when you write a check or more and have no more money then the bank will charge you the insufficent funds and with my bank I am charge a 23.00 fee.
the extra money when you deposit it will go on the insufficent funds. |
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CLF
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The people you wrote the checks for aren't going to turn them in right away so as long as the deposit went in before the checks then you are good. Don't worry but I would just call your bank just to be safe. |
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OU812
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Most banks will hold the cheques for 10 days, even if the funds are available. That would leave you enough time to make sure you have the funds to cover the cheque. It sounds like the cheque was cashed and the bank had overdrawn you account to cover the cheque. |
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