Think about it...

It never ceases to amaze me how, in this day and age, few financial institutions are actually on "real time." This is a good question to ask when opening a new account.

Many do not immediately credit your account for cash deposits or cash loan payments made into their own branch (NOT including ATMs.) Instead, they are a day behind.

It's even more antiquated when you go in at 4 p.m. and they are already on the next biz day! I understand that Saturday is generally not treated as a biz day (since the Feds are closed), but IMHO, if you are just depositing cash or making a cash loan payment, it should be IMMEDIATE.

This is advantageous to the financial institution. They get to sit on deposits and collect interest, while not PAYING interest until the next biz day. Sure, your $100 isn't much, but multiply that by 5000 other customers doing the same thing and it's darn ugly.

The banks are betting that you will incur one of their hefty fees; even though the money is in your account, it's still "pending." Not yours.

So, call your financial institution and ask them just to be informed about your current account. And call some others to find out their policy. You might be surprised!
The Last of Sheila (Coburn)