Quote:
Originally Posted by madcatz1999
It depends. They might be less likely to send it to collections, but if you just opened an account yesterday with $50, and try to deposit (or worse, try to cash) a $3000 check, they're probably not giving you the $3000 until they have it.
good point.
as i understand it though, these types of banks are able to acquire funds faster than, and do not require sending to collections as much as, smaller banks, like pee en cee for example.
in any case, one can take their check into their bank and say to the teller, "i want to deposit this check into my account,
IF funds will be available in a timely manner and not sent to collections. Please tell me when the funds will be available before you proceed with this deposit."
i did this with a canaaddian check at pee en cee and they said they would have to send to collections, despite me being a long time account holder. so i said "No ty, I will take it elsewhere."
then i went to bee oh ay, where i also was a long time account holder, and they said funds would be available next morning. i deposited check, and they were.