Thursday, September 18, 2008

Oh No, a Bank Robbery!!

Remember those chicks who robbed the bank and were caught laughing about it on camera? I feel like applauding them right now. Well, not really. But my bank has robbed me of $80. It's going to give it back, but still, it's annoying. Here's what happened:

Yesterday was Payday! I announced my plans to buy a plane ticket to an out of town wedding for the cost of approximately $520. Since my primary bank account has decided to deny me debit card functionality for six months, whenever I order something online, I have to do a bank transfer. Not a regular bank transfer, mind you, but a physical taking money out of one bank and handing it to the other kind of transfer. It's much much faster that way.

Have you ever noticed that when the bank wants its money, it can get it whenever it wants, but when you want YOUR OWN money from the bank, there are delays?

The original plan was to go on my lunch break to the branch of my primary bank and take out $580 in cash and then walk in to the branch of my secondary bank. Alas, you can't take that much money out of an ATM and standing on lines at two banks was not my idea of a fun lunch hour. Also, I just really didn't feel comfortable walking around with all that money in my pocketbook. The way I walk to my secondary bank takes me through a parking garage and it would be the perfect place to mug someone in my opinion. I've never been mugged but I also don't often carry around $580 in cash.

So alas I just went to the second bank armed with a check made out to CASH.

Today I go to book my plane ticket using my debit card and find to my amazement that I don't have enough money in my account. What? How can this be so?

Despite my deposit of $580, the bank has decided to only credit my account $499 worth. According to the woman on the phone the rest should be available tomorrow. I had half a mind to walk to the bank again today and just deposit the $12 or so I need to buy the plane ticket, but I was too busy all day.
Also maybe the universe is telling me to wait until tomorrow to buy the plane ticket. Maybe it will be cheaper (cross fingers). Stupid bank robbers.


Jim ~ said...

Usually there is a delay when you make a deposit. My bank will authorize up to $100 from the amount I deposit. I have to wait about a day before it is all there in full. The reason they do this is to give the deposit enough time to clear. They didn't steal anything from you though, banks still operate on batch processing the days transactions usually at midnight. Your money will be there in the morning most likely.

Those girls who robbed the bank and were laughing are now felons. It doesn't matter what they were thinking at the time, a stupid move like that got them in big trouble.

I don't like all the rules banks have. There is a reason they have denied you a debit card though. You could switch banks to a different one, but they're going to have rules too. I got bit with a fee over the summer when the EF took a hit. My bank charges a fee when my savings falls below $500. I get charged to actually use my own money. There's not much a consumer can do other than try to stay on top of the changes these places make before we find out later.

paisley penguin said...

I just recently closed an account at a bank I was a member of for fourteen years. I now only bank at a credit union which charges me NO FEES. In fact, the kids of account I have actually pays me money as long as I have $25 in it and have direct deposit go to it.

Funny thing is I almost opened an AIG savings account online a few weeks ago. So glad I didn't!

Good luck with your airfare!

Shtinkykat said...

The delays of crediting the account for a deposits are even worse for online banks since it takes about 3 business days for the deposit to go through. That's why I keep a $100 cushion (that I don't show in my check register) in my checking account just in case. Hope you get a good price on your plane ticket!

Savings not Shoes said...

I had to do the same thing to buy my emergency plane ticket last week. I don't know what I would have done if they hadn't allowed the money through. It seems like an arbitrary amount to hold back. Banks are shaking in their boots right now, so I don't think deposit accounts will be quite so one-sided for long.

HS @ Our Debt Blog said...

Is that bank of america?? looks similar to mine..

Sallie's Niece said...

Nope not BOA.

undercover vixen said...

how did they come up with such an arbitrary number. It's usually like a 100 bucks or 200. Why r jim's post so long?