Nikki
Coconut Creek,#2Consumer Suggestion
Sat, April 26, 2008
If you get paid via direct deposit tonight, at midnight, it is as though you are paid tomorrow. Forget your thinking about tonight at midnight or you will get into trouble. Your direct deposit does not post with today's date, it posts with tomorrow's date. However, any purchases you make today are held off your available balance as of today's date, hence the fees. Then of course when they deduct the fees, you now don't have enough money for the purchases to hard post when the merchant submits them, so you get more fees. Also, sounds like if your $40 cash deposit was credited after your postings (check and auto payment) were debited. If you make a cash deposit today, you may as well figure you cannot use the money until tomorrow. If you make a cash deposit today, then something comes through for posting today, your postings will come out before your deposit goes in and you will incur the fees, even though you, in real time, made the deposit before the items posted. I'm not saying I agree with it, it's just the way it works.