Bank of America: Credit Pending?

Reynolds 101 · #1 03-11-2011, 04:57 PM

Today I deposited a check into my Bank of America account worth $166. It says $100 is available now, and for the $66 it says credit pending, available to cover debits on 3/11 (today) and for withdrawal the next business day.

I want to purchase my Bonnaroo ticket and I need that $66. Is it really available for use today or will I get charged some stupid fee if I try to buy my ticket today?

Let me know if you have an answer!

-T.

MatticusMania · #2 03-11-2011, 04:59 PM

Usually when you deposit a check over $100 into the bank (most banks, I believe) they give you $100 available immediately, and the rest once the check clears.

Relic · #3 03-11-2011, 05:00 PM

With checks, the first 100 will clear right away, the remainder in 3 to 4 business days. At least that's how my bank is

i_got_a_mohawk · #4 03-11-2011, 05:03 PM

Cheques take time to clear. Nout new about that sadly.

MJ5150 · #5 03-11-2011, 05:43 PM

I've been to Clinton Township. I had dinner at Cheli's with some friends, and happened to run into the biggest prick of a Red Wings fan there is when I was there.

-Mike

**lowendfriend** · #6 03-11-2011, 05:52 PM

If you are writing a check to buy the ticket, it'll take a couple days to clear from the ticket agency into your account. Are you mailing a check or handing it to someone?

If mailing, I'd go ahead. If handing, you may want to wait a day.

Do you have a savings account there too with overdraft protection? That's another angle.

duff beer · #7 03-11-2011, 06:13 PM

My bank gives me $1000.00 immediately on deposited cheques, and puts a 24 hour hold on the rest. I could probably have that increased but haven't bothered to asked.

Reynolds 101 · #8 03-11-2011, 08:57 PM

Ouch, I suppose I'll shall hold onto my Bonnaroo anxiousness until the night passes. Thanks everybody.

m0nst3r · #9 03-11-2011, 09:01 PM

If the check is over $100, the first $100 is available immediately, and the rest is given to you the next day, usually at midnight (so it's available when you wake up). If they didn't give you a hold receipt, you should be fine. (They're required by law to let you know if you have a hold on the check)

Since it says it can cover debits, that means it can cover electronic withdrawals from your account, i.e. purchasing the ticket online. Just look at your current "available balance" online. If it includes the $66, you can go ahead and make the purchase.

How do I know? I work for B of A.

A.Diva · #10 03-11-2011, 09:57 PM

Quote:

Originally Posted by lowendfriend

If you are writing a check to buy the ticket, it'll take a couple days to clear from the ticket agency into your account. Are you mailing a check or handing it to someone?

If mailing, I'd go ahead. If handing, you may want to wait a day.

Do you have a savings account there too with overdraft protection? That's another angle.

Not necessarily. Many companies now turn your check into an electronic transaction on the spot. And BoA is VERY unforgiving with the fees.

Demon_Hunter · #11 03-12-2011, 07:53 AM

Why not call the bank and ask them?

A.Diva · #12 03-12-2011, 02:10 PM

Really? You ever tried to call B of A?

jp58 · #13 03-12-2011, 04:30 PM

I think with Bank of America, they allow you to use the "credited" money on things like debit card purchases and the like, but not for cash withdrawal.

I may be wrong though.

Hope you enjoy your stay in Tennessee!